Brazilian exports of machinery and equipment to Latin countries total US$747,5 million in the 1st half of the year

In 2022, Latin America has been highlighted in imports of Brazilian machinery. Countries such as Colombia, Mexico and Paraguay together imported a sum of US$747,5 million in machinery and equipment in the first half of the year. 

To stimulate exports and bring the foreign market closer to national suppliers, mixed economy bodies, trade associations and the Brazilian government have been creating successful initiatives. Programs such as BMS – Brazil Machinery Solutions, a partnership between ApexBrasil (Brazilian Export and Investment Promotion Agency) and ABIMAQ (Brazilian Association of the Machinery and Equipment Industry), have promoted Brazilian companies by organizing business missions and sponsoring their participation in main international events.   

In the first half of 2021 alone, there were 13 events in sectors such as agriculture, poultry, metal-mechanics, textiles, food, plastics and mining.

Brazil has overcome the challenges with bureaucracy and logistics in recent years. Holding the ninth world economy with a GDP of US$1,87 trillion, the machinery and equipment sector exported US$5,6 billion in products in the first half of this year, a volume 29% higher than the same period in 2021.

Of this total, Colombia imported US$204,9 million, an increase of 61,8% compared to the first half of last year. Among the main imported segments are Road Machines (16,1%); Heavy Projects and Equipment (15,6%) and Agricultural Machines and Implements (11,3%).

Mexico reached US$239,9 million, an increase of 26,2% compared to the same period in 2021. The country mainly imported Road Machinery (27,6%); Machine Tools and Integrated Manufacturing Systems (8,6%) and Agricultural Machines and Implements (8,4%).

Paraguay, in turn, generated US$302,7 million, an increase of 28,6% compared to the same period of the previous year. Agricultural Machines and Implements (57,4%); Material Handling and Storage (8,2%) and Food, Pharmaceutical and Industrial Refrigeration (6,1%) were the most imported machinery by the country in 2022.

In addition to the international situation with a combination of factors such as technology, economy and geopolitics, what exactly has changed?

Patrícia Gomes, Director of Foreign Market at the Brazilian Association of Machinery and Equipment Industry (ABIMAQ) explains: “Actions such as those supported by Brazil Machinery Solutions are quite strategic as they demonstrate the importance of foreign trade as a determining part of Brazilian foreign policy. BMS has invested in fairs, developing market studies and business rounds, taking advantage of the demand for international participation and facilitated international mobility. Encouraging exports - including small and medium-sized companies in the sector that are mainly responsible for generating employment in the country - brings important results to the economy.”