By Alzira Rodrigues | Translated by Jorge Meditsch
Data from the Brazilian autoparts industry trade balance in 2022 show an US$ 11.3 billion deficit, 7.5% more than in the previous year, according to Sindipeças, the association of Brazilian autoparts manufacturers.
Autoparts exports reached US$ 8.3 billion, expanding by 26.5% from 2021 when US$ 6.6 billion were shipped. Imports also grew, but to a lower index, 14.8%. Purchases abroad totaled US$ 19.6 billion, compared to US$ 17 billion one year before.
Sindipeças explain the export high as a result of the gradual post-pandemic economic opening started in 2021. “The diversification of target markets and a more competitive exchange rate in Brazil favored the expansion of Brazilian parts sales to other markets,” told the association in its trade balance analysis.
In the same document, Sindipeças says, “the positive performance by the automotive sector in Argentina in 2022, despite caused by negative reasons (purchase of assets to protect patrimony due to the explosive near-100% inflation), expanded the participation of the neighbor country in the sector’s total exports to 35.5%”.
With Argentina, the four largest Brazilian autoparts buyers were the USA (16.4%), Mexico (9.4%), and Germany (7.0%). The countries that sell more automotive components to Brazil are China (16.3%), the United States (12.4%), Germany (9.9%) and Japan (8.6%).
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