According to the Brazilian industrial industry, there was a significant growth of 6.1% in July 2024 compared to the same month of the previous year, consolidating a positive trend that has been going on for the past twelve months.
This data places the sector 1.4% above the pre-pandemic level of February 2020, indicating a significant recovery in the country’s industrial economy, as reported by the Sputnik agency.
The numbers were released by the Brazilian Institute of Geography and Statistics (IBGE) this Wednesday (4), based on the Monthly Industrial Survey (PIM Brazil).
The sector has accumulated a growth of 3.2% throughout 2024, and in the twelve-month period, the expansion reached 2.2%.
This performance reflects a favorable scenario, even in the face of occasional fluctuations, such as a 1.4% decline in industrial production in July, after a sharp increase of 4.3% the previous month.
The survey results show that, in the year-on-year comparison, the 6.1% growth in July benefited 21 out of 25 industrial sectors, as well as 60 out of 80 groups and 67.3% of the 789 products analyzed.
The automotive, trailers, and bodies sector was the highlight, with a leap of 26.8%, followed by the chemical products, which grew by 10.5%.
In the comparison between June and July 2024, the automotive sector remained in the spotlight, registering an increase of 12%, reinforcing the 4.8% growth observed in the previous month. Other sectors that showed remarkable performance include metal products (8.4%),
leather goods and footwear (12.1%), and machinery and equipment (4.2%).However, July also marked a slight overall contraction in the sector, partly reflecting the effects of a high comparison base.
“The negative performance of the industry in July comes after intense growth in the previous month, when there was a recovery of production units affected by the rains in Rio Grande do Sul in May,” explained André Macedo, manager of PIM Brazil.
Despite this slowdown, the accumulated balance in 2024 remains positive, pointing to an upward trend for the industrial sector.
Compared to December 2023, the Brazilian industry is 1.2% above, consolidating a recovery scenario.Support from BNDES.
The Brazilian Development Bank (BNDES) has played a crucial role in the industrial restructuring of Brazil. Financial support, especially focused on strategic sectors such as vehicle and machinery manufacturing.
These contributions are crucial to maintain the competitiveness of the national industry and ensure its integration into global value chains, especially in high technology and clean energy areas.
