Other Cargo

Machine and equipment sales maintain stability in October

Nov, 26, 2019 Posted by Sylvia Schandert

Week 201949

In October, sales of the Brazilian machinery and equipment industry remained stable compared to the previous month (0%), but grew 1.9% compared to the same month last year, according to today’s (11/26) report by the Brazilian Machinery Builders’ Association (Abimaq).

According to Abimaq, the best sales performance is due to the domestic market. Sales to the foreign market declined, with a negative performance of 11% compared to September and -21.1% compared to the same month last year. Abimaq attributed the result to the slowdown in production activity in several trading partners.

On the other hand, imports grew 31.9% in the monthly comparison and 39.7% in relation to the same month of 2018.

As for jobs, there was a growth of 1.2% last month in the annual comparison and fall of 0.4% compared to September.

“In October, [industry] numbers were good, [they were] even better than expected. Usually October is a month of slowdown in activity,” said Maria Cristina Zanella, manager of Abimaq’s Department of Economics, Statistics, and Competitiveness.

She added that such a sharp slowdown in the international market was not expected and that this would reflect in export data. “Exports in the sector represent about 40%. With a strong fall, of almost 10%, it has greatly compromised our result and, therefore, [previous] expectations were not fulfilled.”

The sector expects to close the year with growth of 1.6%. For next year, the expected growth is around 3.2%.

Source: Agência Brasil

Sharing is caring!

Leave a Reply

Your email address will not be published.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