• Categories
  • Archives

US Keeps by Far Title of Brazil’s Number 1 Exporter and Importer of Capital Goods

Brazilian exports of capital goods yielded US$ 8.6 billion in 2005, performance 25% above that registered in 2004 and a new record for the sector. The imports of machinery and equipments, in turn, increased by 24% and reached US$ 8.5 billion.

With this result, the sector, which traditionally presented deficits, registered for the second consecutive year a surplus in it’s trade balance. The information was released Tuesday, February 7, by the Brazilian Machinery Manufacturers Association (Abimaq).

According to the entity, the increase in exports was influenced by the consolidation of markets, the diversification of destinations and incentives offered by the Brazilian government.

On the other hand, external purchases were influenced, according to Abimaq, by the warm up in the country’s economy, which generated an increase in demand for products not manufactured by national industry. The surplus in the sector’s accounts increased from US$ 4.57 million to US$ 100 million.

The main destinations of Brazilian exports were the United States (28.1% of the total), Argentina, (11.5%), Mexico (6.6%), Germany (6.3%) and United Kingdom (5.3%).

The greatest suppliers to Brazil were the United States (27.9%), Germany (18.3%), Japan and Italy (8.5%), France (4.7%) and China (3.2%).

The sector as a whole had revenues of US$ 25.5 billion last year, an increase in 18.3% in comparison to 2004. As well as the performance in exports, there was an increase in 17.8% in the internal consumption of machinery and equipments.

Investments made by the industrialists in the sector in 2005 added up to US$ 6.2 billion. Although this is a record, Abimaq says it is below the expected. The industry of machinery and equipment sealed the year with 212,000 employees, 2.4% more than in 2004.

Anba – www.anba.com.br

Tags:

  • Show Comments (0)

Your email address will not be published. Required fields are marked *

comment *

  • name *

  • email *

  • website *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Ads

You May Also Like

Why Is IMF Director in Brazil?

The new Managing Director of the International Monetary Fund (IMF), Rodrigo Rato, arrived today ...

Brazzil? What Is It All About?

Created in April of 1989, BRAZZIL has been a national respected link between Brazil ...

Brazil’s Senate President Vows to Help Venezuela’s Political Prisoner

Former Brazilian president and current President of the Brazilian Senate, José Sarney, met this ...

Brazilian Finance Minister Says Government Scandal Will Not Taint Economy

Brazil’s Minister of Finance, Antonio Palocci, declared that there is no question in the ...

Brazil participates in Dubai's Gulfood fair

Brazil’s Beef, Poultry and Fruit Present at Dubai’s Gulfood Fair

One of the greatest food industries in Brazil, Avipal group, is going to participate ...

Bitter Defeat for Brazil’s Lula in Congress

For the first time in the recent history of the Brazilian Parliament, the Chamber ...

Brazil: Indians Demand a Piece of Land

In Mato Grosso do Sul, a state where around 30,000 Guarani-Kaiowá live, there are ...

Brazil Wants a Larger Piece of World’s Software Pie

The president of the Brazilian Export Promotion Agency (Apex), Juan Quirós, signed February 21 ...

Brazil Justice Orders Google to Close Communities Promoting Drugs

Google has been ordered by Brazil’s Federal Justice to close immediately four Orkut communities ...

Amnesty Uses Brazil Violence to Promote Gun Control in the World

During the course of 2006, Amnesty International plans to present its report entitled "They ...