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:

Ads

You May Also Like

Handicapped Get a Place Under the Sun in Brazil

Representatives of 21 Iberian-American countries will meet in Rio de Janeiro between November 7 ...

Brazilian Police After Thieves of Rare Albino Alligators

Brazil's federal police are investigating the disappearance of seven albino alligators from the UFMT ...

Brazilian Beer: This Xingu is for You!

Excellent beers come to Brazil from different countries including Germany and England, but Brazilians ...

Brazil Never Again for American Pilots Back in the USA

Joseph Lepore and Jan Paladino, the two American pilots of the Legacy executive jet ...

Past Political Scandal Brazil’s Banco Rural Is Reevaluated by Fitch

Fitch Ratings has removed from Rating Watch Negative and affirmed the long and short-term ...

Brazilian Road Equipment Maker Growing Exports 33% a Year

Brazilian road equipment maker Randon exported US$ 138.4 million in the first half of ...

Brazil: Another Hurdle on Dilma Rousseff’s Way to the Presidency

Lina Maria Vieira, a former high ranking officer from Brazil's Tax Office accused Brazilian ...

Indian’s Old Dad

Located in the northwest of Brazil, Roraima, which was upgraded from territory to state ...

Brazil Wants Its Own Atlantic-Pacific Road from Sea to Shining Sea

The presidents of Brazil, Bolivia and Chile want to step up plans to build a ...

In Brazil, a Full Week of Bad News in Politics and the Market

Latin American markets ended mixed, with share movement somewhat muted. Brazil posted its fifth-straight ...