Brazil has the largest area, the largest population and the highest economic strength in Latin America. Since the 1970s, Brazil's economy has occupied half of South America, which is an important export market for sewing equipment in China and China's largest trading partner in Latin America. Brazil is a major textile and garment producer in the world, with more than 1.7 million textile and garment employees and more than 30,000 enterprises.
The annual output value of textile and garment industry is nearly 50 billion US dollars. In recent years, the government has continuously promoted structural reform and privatization, reduced taxes and trade barriers, promoted infrastructure construction, continuously improved the business environment, and has broad market prospects. The investment scale of China enterprises in Brazil has been expanding. According to the estimation of the International Monetary Fund, Brazil's GDP growth rate will be 3.1% in 2022, and it is expected to achieve 1.2% growth in 2023.
picture Import situation In 2022
Brazil imported a total of 183.1568 million US dollars of various sewing machines, an increase of 11.37% year-on-year (see Figure 1 for details). Among them, all kinds of sewing machine imported from China totaled 115.0432 million US dollars, up 5.99% year-on-year. picture Figure 1 Import value of sewing equipment in Brazil from January to December, 2022 (USD 10,000)
In 2022, the most imported sewing equipment in Brazil was industrial sewing machines including the automatic sewing machine such as pattern sewing machine and cnc sewing machines, with an import value of 89.6975 million US dollars, accounting for 48.97% of the total import of sewing machinery in Brazil; Followed by the equipment before sewing and after sewing, the import value was 51.7531 million US dollars, accounting for 28.26%; The third is the home machine, with an import value of 16.7484 million US dollars, accounting for 9.14%; The fourth is embroidery machine, with an import value of 13.5461 million US dollars, accounting for 7.40%; Finally, parts and components, with an import value of US$ 11,411,700, accounting for 6.23% (see Figure 2 for details).
In 2022, China was the largest import market of sewing machinery in Brazil, with an annual cumulative import value of US$ 115,043,200, an increase of 5.99% compared with 2021; The second largest import market is South Korea, with a cumulative import value of US$ 16,529,000, a sharp increase of 1903.52% compared with the same period in 2021; The third largest import market is Vietnam, with a cumulative import value of US$ 12,267,800, a decrease of 35.83% compared with the same period in 2021.
Post time: Feb-14-2023
