Exports of auto parts grow 15.1% in 2022

Jul, 04, 2022 Posted by Gabriel Malheiros

Week 202227

Auto parts businesses, like manufacturers, have been challenged by high costs and a scarcity of components, particularly semiconductors. Despite the obstacles, the sector has managed to grow its overseas sales, with US$ 3.1 billion delivered from January to May, a 15.1% rise over the same time in 2021.

May recorded the best result of the year and a rise of 17.9% compared to the same month last year. Imports are also rising, but at a lower rate than at the beginning of the year. In the year-to-date, from the five initial months, U$ 8.1 billion was paid in exchange for exports, a growth of 22.3% over January-May 2021.

According to a trade balance report published on the Sindipeças website, the value of imports has been exceeding US$ 1.5 billion each month, “although there is an interannual variation in growth that is lower than that of exports since March.” In a situation similar to exports, May was the month with the highest volume of imports (US$ 1.8 billion).

“Due to international turmoil and the domestic macroeconomic scenario, the auto parts industry has faced problems in the supply chain, high costs in international operations, and internal imbalances,” confesses Sindipelas in its report, stressing that the current exchange rate and the growth of the automotive market in neighboring countries are feeding the industry’s foreign sales.

Nonetheless, the trade deficit was $5.9 billion in May, up 8.1% from the same period in the previous year. Argentina continues to be the primary trading partner of the Brazilian automotive sector, accounting for 35.6% of auto parts exports through May, followed by the United States and Mexico. China leads the way with a 16.3% share year-to-date in terms of imports.

Source: G1

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