Economy & Business - August 2022

BRAZIL | Figures highlight shrinking industrial sector. On 21 July, Brazil’s national statistics institute (Ibge) released new figures from its annual industrial survey which reveal how the country’s industrial sector has shrunk over the last decade. In 2020, Brazil had 303,600 industrial companies employing one or more people, of which 6,300 were in the extractive sector and 297,300 in manufacturing – but these figures were lower than a year earlier for the seventh consecutive year. From 2011-2020, 9,579 companies in the industrial sector went out of business (3.1% of the total), while 1m jobs in the sector were lost (11.6% of the total). The majority of lost industrial jobs were in the clothing and accessories sector (258,400), in shoe and leather manufacturing (138,100), and in the manufacture of metal products other than machinery (134,200). The best performing industrial sector over the 2011-2020 period was the food industry, which grew by 5.9 percentage points over the 10-year period, with more than half of this growth taking place between 2019 and 2020.

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