Brazilian Machinery and Equipment Sector Sees Mixed Performance in July

The machinery and equipment sector in Brazil reached a total net revenue of R$ 24 billion in July 2024, marking a 2.2% decrease compared to the same period last year. However, compared to June 2024, the sector saw a growth of 3.2%, driven primarily by exports.

According to the Brazilian Association of Machinery and Equipment Industry (Abimaq), the sector’s exports totaled $1.3 billion in July, representing a significant increase of 45.1% compared to the previous month and a 14.2% rise compared to July 2023.

Imports also saw substantial growth during this period, reaching nearly $2.7 billion—the highest value ever recorded for July. This marks an increase of 15.9% compared to June and a 16.6% rise from July of the previous year.

The apparent consumption of machinery, an indicator that includes both domestically produced and imported equipment, recorded a 5.1% increase compared to July 2023 and a 2.6% rise from June 2024, driven by higher imports.

Additionally, the machinery and equipment sector saw a slight improvement in employment levels in July. The month ended with 389,279 workers employed, a 0.3% increase compared to June.

Source: Jornal de Colombo

Click here to access the original news report: https://jornaldecolombo.com.br/setor-de-maquinas-e-equipamentos-registra-queda-em-julho/

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