Figures released by the National Association of Brazilian Auto Parts Manufacturers (Sindipeças) show exports of auto parts to 198 countries from January to August amounted to $5.19 billion, a rise of 9.3%. Imports, however, which came from 174 countries, increased by 15% to $9.67 billion.
Sindipeças’ calculations are based on figures from the Ministry of Industry, Foreign Trade and Services. These show that in August alone, year-on-year exports rose by 9.2% to $763m, while imports declined by 1.7%, totalling $1.23 billion. The sector deficit in August therefore fell by 15.4%, compared to August 2017.
Argentina remains the leading consumer of Brazilian car parts but exports from Brazil to Argentina have slowed in recent months (although they were still up 3.7% overall to the end of August). Exports to the more buoyant markets of Mexico, the US and Germany were up 46.2%, 17.7% and 16.6% respectively.
As for imports, those from China over the first eight months grew by 24.8% to $1.24 billion, while those from Germany were up 33% to $1.16 billion and those from the US grew 9.8% to $1.09 billion.
Brazil’s automotive trade performance will be among the issues under discussion at next month’s Automotive Logistics South America summit in Sao Paulo, which takes place on November 28.