Imports of auto parts slow down in the year

In May, the Brazilian auto parts industry achieved its highest foreign sales result of the year. A total of US$ 893.5 million worth of goods was shipped, marking a 28.3% growth compared to the same month in the previous year and a 20.5% increase compared to April.

The data were published on Monday, the 26th, on the website of Sindipeças, the union representing automaker suppliers in Brazil.

“Despite the slowdown in the automotive market in some neighboring countries, particularly Argentina, which experienced a 2.1% production decrease from April to May, the increase in volumes shipped to other markets has ensured a positive performance for automotive exports and auto parts,” highlights the organization in its trade balance report.

In the year-to-date result, foreign sales reached US$ 3.8 billion, with a positive variation of 24% compared to last year. Imports in May amounted to US$ 1.8 billion, reflecting a 3.2% decrease compared to the same month in the previous year but a 13.3% increase compared to April.

“It is worth noting that, in the year-to-date period up to May – contrary to previous years’ trends – there has been a 1.1% decline in imports, indicating a lower annual result, albeit only slightly, compared to 2022 (US$ 19.6 billion),” evaluates Sindipeças.

Although the auto parts industry’s trade balance remains in deficit, the deficit is lower than last year. The accumulated deficit until May amounted to US$ 4.3 billion, representing a 16.2% decrease compared to 2022.

Source: AutoIndústria

To read the original news report, see: https://www.autoindustria.com.br/2023/06/27/importacoes-de-autopecas-desaceleram-no-ano/

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