Sale of machines should be 12% higher in 2008, foresees Abimaq
Gazeta Mercantil 12/21/2007
The Brazilian industry of mechanical capital goods projects growth between 10% and 12% for the nominal sales of 2008, in comparison with the R$ 60 billion (US$ 33.7 billion) that it may reach at the end of this year, when it will grow 13.2%. The calculations are from the National Machine Industry Union (Sindimaq) and the Brazilian Machinery Manufacturers Association (Abimaq) and they are based on an estimate of the entity with the Dollar at R$ 1.80, on an average, and the IPCA (Broad Consumer Price Index) close to 4.5% next year. Luiz Aubert Neto, the president of the entities, considered the performance of the sector good in 2007, mainly pushed by the expansion of the industries of oil and gas, mining, paper and cellulose, metal works, and sugar and alcohol. Aubert Neto remarked, however, that it could have been better, wasn't it for the foreign exchange policy. The commercial deficit of the sector may hit a record and reach US$ 4.9 billion in 2007, the greatest since 2002, when it closed at US$ 4.8 billion. With the US dollar rate being kept at R$ 1.80 for 2008, the negative trade balance scenario should be maintained, that's what the officer believes. "If this year's record is confirmed, we may have another one in 2008".