• Categories
  • Archives

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

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.



  • 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Your email address will not be published.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.


You May Also Like

Brazil to Produce 35% of World’s Food in a Decade

Brazil plans to increase its farm output by 40% in the next 10 years, ...

Brazil’s Petrobras Is Still Calling for US$ 112 Billion in Investments

Brazilian state-controlled oil multinational Petrobras's business plan for the 2009/2013 period, which is currently ...

The FTAA Is Dead. Brazil and Mercosur Have Buried It.

The stage was set for a showdown. When the Bush cabinet announced intentions to ...

Brazilian Company Becomes McDonald’s Main Supplier for Hamburger and Chicken

Brazilian company Marfrig Alimentos SA, Latin America’s second-largest beef producer, agreed to buy meat ...

Brazilian Coach Joins US Academy Soccer Club

Florida-based Schulz Academy soccer club announced yesterday the launch of an additional training program ...

Lula Conveys a Calming Message about Brazil to Japanese Investor

Brazil’s Minister of Finance, Antônio Palocci, evaluated as positive the Brazilian presidential delegation’s trip ...

Massacred by the Mainstream Media Brazil’s New President Was Rescued by the Internet

Worker’s Party (PT) Candidate, Dilma Rousseff, will be the first woman president in Brazilian ...

All of Brazil Grinds to a Halt for World Cup, Even Supreme Court Closes Shop

82% of Brazilians intend to watch the World Cup games at home, according to ...

Cover story July 95

For decades, oil in Brazil has been a state monopoly and the vast majority ...

Porto Murtinho, in the Brazilian Pantanal

A Crazy Lady Tries to Make Sense of Life on Brazil’s Frontier

To the uninitiated, Porto Murtinho may seem like the middle of nowhere – or ...