Brazil’s speedboats, yachts exports exceed imports for the first time

Brazilian boats are sailing towards success as, for the first time ever, in 2022, exports exceeded imports. Brazilian-made yachts and speedboats are increasingly reaching the waters of several countries, including key markets such as European nations and the United States.

According to data from the Brazilian naval construction association Acobar, sector-specific exports reached a record of USD 30.1 million last year, almost four times higher than imports ($7.6 million). As a comparison, in 2021, the country had already exported virtually the same amount ($29.9 million), but imports at that time reached $75.7 million.

For the president of Acobar, Eduardo Colunna, the industry is “beginning to reap the fruits” of an initiative that began almost a decade ago and gained strength in the last four years. “(The sector) has always been left out (of exports) due to mistakes made by the shipyards themselves, who did not invest internationally.” Now, however, he believes the segment is “solid” and that the trend is to “grow and prosper.” He estimates an annual growth rate of around 20% solely through exports.

Factors such as favorable exchange rates and the development of attractive designs for foreign customers favored external sales. In addition, Colunna says that during the isolation period imposed by the COVID-19 pandemic, the sea began to be seen with new eyes. “From the pandemic onwards, the market has improved significantly, and opportunities have arisen worldwide,” he says.

According to him, in February, at least six Brazilian companies exhibited their boats at the Miami Boat Show – considered the world’s largest nautical event – proof that national shipyards are investing in the foreign market. “Companies are exporting more than 40% of their production,” he said, adding that Brazilian boats “do not fall short of anything (in relation to foreigner models) in terms of technical quality, design, and finishing.”

Source: O Estado de S. Paulo

To read the original news report, see: https://www.estadao.com.br/economia/negocios/exportacoes-iates-e-lanchas-superam-importacoes/

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