The pace of the imports of auto parts is slowing down

Auto parts imports continued to rise year-on-year, although at a much slower pace when comparing the second quarter of the year with the first. Compared to the same months last year, growth was around 70% in January and February. In turn, in March and April, the expansion rate was much smaller, only reaching 2.3% and 3.5% respectively.

This info is part of the trade balance report released on the 23rd by Sindipeças, which reveals accumulated imports of 25.2% in the first four months, with a total of US$ 6.3 billion this year compared to US$ 5 billion in 2021. Exports until April reached US$ 2.4 billion, up 14.3% in the same comparison period (US$ 2.06 billion).

Based on these results, the auto parts industry ended the four months with a trade deficit of US$ 3.96 billion, a figure 22.7% higher than that recorded in the first four months of last year (US$ 2.96 billion).

“Despite the growth in the value of auto parts imports, there is a certain deceleration trend when it comes to inter-annual variations used as a reference,” according to the report by Sindipeças. “This situation, in our opinion, may result from a combination of three factors: unusually high economic activity recorded in March and April 2021, weaker results from the automotive industry in 2022, and a cooling off of purchase intentions abroad, partly due to the softening of the crisis in the supply of inputs.”

Argentina remained the largest trading partner of the Brazilian automotive sector, absorbing 34.7% of auto parts exports until April. Sales to the neighboring country totaled US$ 819 million in the four-month period, up 44% over the same period in 2021. The United States ranked second with US$ 390.9 million, and Mexico third with US$ 213.5 million.

China, with a share of 17.1% in the year to date (recorded until April), sent to Brazil more than US$ 1.08 billion in auto parts this year, compared to US$ 803 million in the first four months of last year. Next on the list comes the United States, with a share of 11.1%.

Source: Autoindústria

To read the full original article, please go to:

https://www.autoindustria.com.br/2022/05/23/cai-o-ritmo-de-crescimento-das-importacoes-de-autopecas/

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