Brazil’s machinery and equipment sector’s turnover up 72% in April
RIO DE JANEIRO, BRAZIL – The Brazilian machine and equipment industry’s turnover increased 72.2% in April compared to the same month last year, totaling R$16.6 (US$3.12) billion in 2021. Brazil’s machinery and equipment sector’s turnover up 72% in April
In the past 12 months, sector sales totaled R$179 billion, an increase of 18.1%. The data were released today, May 26, by the Brazilian Association of Machinery and Equipment Industry (ABIMAQ).
In the first 4 months of the year, the industry’s revenue increased by 37.4% compared to the same period in 2020. The revenue from January to April totaled over R$62 billion. “The road machinery sector has grown tremendously, and it has nothing to do with the pandemic. The infrastructure sector as a whole is growing, and the one that grew most was agriculture,” said José Velloso, president of ABIMAQ.
The estimate for the sector in 2021 is for 13.5% growth.
When observing April, the association points out that the foreign market was responsible for the improvement in the performance of the machinery and equipment industry. The sector sold US$702.3 million in equipment abroad, 37.3% more than in the same month of 2020. Compared to March, exports were 8% higher. In the past 12 months, the sector registered a 16.5% drop in exports.
In contrast, sales in the domestic market fell by 6.1% compared to the preceding month. However, in the interannual comparison, there was an increase of 102% compared to April 2020.
The association points out that the result is due to the fact that sales fell 33% in this period last year because of the arrival of the Covid-19 pandemic. With vaccination underway, ABIMAQ estimates that international trade is picking up, which has repercussions on exports.
In terms of employment in the machinery and equipment industry, 47,000 jobs were created in April, compared to last year. The sector employs 346,000 people.
This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error
Read More from The Rio Times