Brazil heavy machinery sales to LATAM climb to US$ 747.5 million

The heavy machinery industry from Brazil grew in sales to Latin America (LATAM) countries. Nations such as Colombia, Mexico, and Paraguay combined imported up to US$ 747.5 million in the first half of the year. In terms of worldwide exports, the Brazilian industry exported US$ 5.6 billion in the period, a volume 29% higher than the first half of 2021, pointing to a recovery, albeit the dollar-real exchange rate remains unfavorable to national producers.

Over the years, Brazil has become a reference in the export of industrial equipment to Latin America. However, China leads the export ranking in mechanical engineering. In 2021, the Chinese increased the global volume sold by more than 26%, reaching €210.1 billion.

Colombia acquired US$ 204.9 million, a growth of 61.8% in comparison with the first half of last year. The main categories of products traded are road machinery (16.1%), heavy machinery (15.6%), and agricultural machinery and implements (11.3%).

Mexico reached US$ 239.9 million, an increase of 26.2% compared to the same period in 2021. The main items were road machinery (27.6%), machine tools and integrated manufacturing systems (8.6 %), and agricultural machinery and implements (8.4%).

Neighboring Paraguay, on the other hand, provoked a cash flow of US$ 302.7 million, up 28.6% over the same period of the previous year, buying agricultural machinery and implements (57.4%), equipment for logistics handling and storage (8.2% ) and items for the food, pharmaceutical and refrigeration industries (6.1%).

“Actions such as those supported by the Brazil Machinery Solutions [BMS] program are vital in so much as they illustrate the significance of foreign commerce as a determining factor in Brazilian foreign policy. BMS has participated in fairs, market studies, and business roundtables, capitalizing on the desire for international involvement and supporting international mobility. Export incentives, including those for small and medium-sized businesses in the sector primarily responsible for job creation in the country, have a significant impact on the economy,” according to Patricia Gomes, foreign market director of the Brazilian Machinery and Equipment Industry Association (Abimaq). The Brazilian Trade and Investment Promotion Agency (ApexBrasil) and Abimaq collaborate on the BMS program.

Source: Money Report

To read the full original article, please go to: https://www.moneyreport.com.br/economia/exportacao-de-maquinas-e-equipamentos-a-paises-latinos-soma-us-7475-mi/

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