According To Abimaq, Machinery Industry Revenue Fell 27% In April

R$ 7.7 Billion Was The Revenue Of The Machinery Industry In April, According To Abimaq

According to the Brazilian Association of Machinery and Equipment Industry (Abimaq), the total revenue of the machinery and equipment industry decreased by 27% in April compared to the same period last year, to R$ 7.7 billion.

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Once again due to the coronavirus crisis, the poor performance canceled the 1.1% growth until March. The indicator for the year 2020 shows a decrease of 6.5%, to R$ 36.52 billion.

According to Valor, both domestic sales and exports experienced a significant decline. The revenue from domestic sales totaled R$ 4.98 billion, a drop of 28.5% compared to April last year. In 2020, the figure reached R$ 24.73 billion, 6.0% lower than recorded between January and April 2019. As for exports, the decline was 41.6% in April.

According to Abimaq, this result reflects the slowdown of international trade amid the pandemic, which paralyzed a significant part of the global economy. Despite this, the decline was mitigated by the devaluation of the real against the dollar during the period — in reais, the revenue from sales fell by 24%. Year-to-date, machine and equipment exports shrank by 20.8%, to US$ 2.5 billion.

Additionally, according to Abimaq data, companies in the sector closed April with 300.2 thousand jobs. This number is 2.3% lower than recorded in the same month of 2019.