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25/10/2017 - 18:37hs

Machinery exports climbed in September

Foreign sales of capital goods from Brazil were up 33% in the month and 9.4% year-to-date, the Brazilian Machinery and Equipment Industry Association (Abimaq) reported this Wednesday.

São Paulo – Machinery and equipment exports from Brazil were up 32.8% year-on-year in September. The Brazilian Machinery and Equipment Industry Association (Abimaq) reported this Wednesday (25) that the industry grossed a combined USD 813 million from foreign sales last month. The amount is down 2.7% from August numbers.

Year-to-date, the Brazilian capital goods industry saw exports go up 9.4% to USD 6.5 billion. Abimaq said domestic demand weakened while activity picked up on international markets.

“Many companies are keeping afloat by deriving much of their revenue from exports, despite low margins or even losses stemming from exchange rate fluctuations,” Abimaq said.

The biggest destinations were Latin America, the United States and Europe, Abimaq reported. Conversely, the biggest exporters of machinery to Brazil were China, the United States and Germany.

Imports to Brazil came out to USD 9.5 billion year-to-date through September, down 21.9% year-on-year. In September alone, imports amounted to USD 1.17 billion, up 16.8% from September 2016 and 7% from August 2017.

Apparent consumption, which gauges domestic consumption and is tantamount to the sum of domestic sales and imports, slid by 21.8% year-to-date through September to BRL 64 billion (USD 19.7 billion). Last month, apparent consumption reached BRL 7.5 billion (USD 2.3 billion), down 6.3% from September 2016, but up 1% from August.

Total Brazilian machinery and industry revenue reached BRL 50.05 billion (USD 15.4 billion) year-to-date, down 4.5% year-on-year. Industry revenue reached BRL 5.8 billion (USD 1.7 billion) in September, down 5.7% year-on-year and 4.3% month-on-month.

*Translated by Gabriel Pomerancblum

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