08/11/2008 14h49
Abimaq increases growth projection for the year
Gazeta Mercantil - 08/11/2008
Even though discouraged by the interest rates, the increasing competition of the importations and accounting of a commercial deficit that doubles every year, the Brazilian Machinery Manufacturers Association (Abimaq) recognizes the good moment of the national industry and, due to the results achieved by the sector in June, it increased the growth projection it had for 2008. In the beginning of the year the entity announced a perspective of earnings between 10% and 12% greater, and it now expects from 15% or 16%. That can increase the annual sales of the sector to R$ 71 billion (US$ 45.2 billion). "Brazil has always been the Country of the future. I believe now it is the chance ", said the president of Abimaq, Luiz Aubert Neto. The period ending in June, in fact, indicates stabilization in the rates of growth of the sector, "but it stabilized at a high level", emphasizes Aubert. The sales in the half reached R$ 36.2 billion (US$ 23.1 billion), 25% above the sales of the same period of last year, a variation equal to that registered in the accumulated until May. But, in January, the growth rate was 47%. The apparent consumption - production plus importation less exportations - grew 32%, to R$ 44.1 billion (US$ 28.1 billion). Part of this increase results from the rise in the importations. The external purchases of capital goods had an increase of 45.9%, going from US$ 6.8 billion in the first half of 2007 to the current US$ 9.9 billion. The exportations, on their turn, grew 12.9%, from an income of US$ 4.7 billion in 2007, to US$ 5.3 billion in 2008, in the period from January to June. Converted to Real - the dollar devaluated 18.4% since the beginning of the year -, the income from the exportations of the half is 9% below that of 2007 whereas the importations are 21% above.
