Brazil Boosts Machinery Exports by 12%. US Is Main Buyer

Brazzil Magazine covers

Brazilian machinery exports generated US$ 9.6 billion in 2006, a 12.4% increase compared with 2005, according to data released today, February 9, by the Abimaq (Brazilian Machinery Manufacturers Association).

According to the organization, foreign sales increased by nearly 160% in five years. In 2002, they amounted to US$ 3.7 billion.

But the president of Abimaq, Newton de Mello, stated in a press release that the growth rate decreased in 2006, since exports in 2005 saw a 40% increase compared with 2004.

In Mello's assessment, the appreciation of the Brazilian real against the dollar has been detracting from the competitiveness of Brazilian industries, because it makes domestic products more expensive abroad.

Mello ascribes the positive performance, despite the exchange rate, to businessmen's efforts to sell their products in foreign markets.

According to Abimaq, Brazil ranks 20th in the list of the world's premier exporters of machinery and equipment, the leaders being Germany, the United States, Japan, Italy and the United Kingdom.

The main importers of Brazilian products are the United States, which spent US$ 2.7 billion in 2006, a 12.5% increase compared with 2005, Argentina (US$ 1.2 billion, a 19.5% increase), Germany (US$ 610 million, a 12% increase), Mexico, the United Kingdom, Venezuela, Chile and China.

Brazilian imports of machinery and equipment, on the other hand, stood at US$ 9.8 billion in 2006, a 15.9% increase compared with 2005. The trade balance for the sector recorded a deficit again, whereas in 2005 it had a US$ 100 million surplus, according to data provided by Abimaq. The main suppliers of Brazil in 2006 were the United States, Germany, Italy, Japan and China.

Overall, the sector had a revenue R$ 54.8 billion (US$ 26.1 billion) last year, 1.9% less than in 2005. The number of jobs in the machinery sector was 207,938 on December 31st 2006, a 2% decrease compared with December 31st 2005.

Anba

Tags:

You May Also Like

Brazzil Magazine covers

Lured by Lower Taxes Brazilians Flock to Car Dealers

In Brazil automobile output climbed in June for the second straight month as car ...

Brazzil Magazine covers

Amapí¡ Is Back on the Map of Gold in Brazil

The northern Brazilian state of Amapá is once again one of the golden regions ...

Brazzil Magazine covers

Brazil to Pay 13% of Debt Due in 2006. Rest to Be Renegotiated.

The Brazilian government’s federal debt (domestic and foreign together) is expected to grow at ...

Brazzil Magazine covers

1500-Mile Military Flight in Brazil Rescues Hundreds of Stranded Penguins

Once again Brazil got involved in an operation to save stranded penguins. Close to ...

Brazzil Magazine covers

Brazil Has a Pact of Mediocrity in Economy, Society and Culture

Brazil has a pact of excellence in soccer and in sports in general. But ...

Brazzil Magazine covers

Promising Land

Rancharia is 1 of 49 special projects in the state of Bahia supporting 2,250 ...