Despite the auto parts industry being on an upward trend regarding exports, foreign purchases have been twice as representative as shipments this year. From January to August, exports reached $6.2 billion, while imports amounted to $12.9 billion during the same period.
In the case of exports, the auto parts industry has seen a growth of 16.7%, as compared to the $5.3 billion sold to other countries in the first eight months of 2022.
On the other hand, imports shrank 2.6%, dropping from $13.3 billion to $12.9 billion, according to the trade balance report from Sindipeças published on its website.
In August, with foreign sales of $870.1 million, the sector recorded its best performance of the year, second only to May. Month-to-month comparisons showed an expansion of 6.5% both over July and compared to the same month last year.
Regarding imports, with a total of $1.76 billion, there was a 6.1% decrease compared to August 2022 and an 11.6% increase over the previous month.
The trade balance of the automotive parts industry ran a deficit of $6.7 billion this year, “reflecting a 15.6% decrease compared to the deficit observed during the same period last year,” according to Sindipeças’ publication.
Source: Autoindústria
To read the original news report, visit: https://www.autoindustria.com.br/2023/10/04/autopecas-ainda-importam-o-dobro-do-que-exportam/
