Crisis in the Brazilian industry

According to the Annual Industrial Survey, published by IBGE, the Brazilian industry cut 1.1 million jobs between 2014 when the country officially went into recession, and 2017 – a decrease of 12.5%. The remaining vacancies had wages cut by 14.7%. In addition, Brazilian industry revenue fell 7.7% in the period. Between 2008 and 2017, the segments that lost most jobs were mining coal (-38.7%), manufacturing of petroleum products and biofuels (-32.9%) and manufacturing of wood products ( -22.4%).

The Brazilian industry suffers from the economic crisis that affects Argentina and the decrease in the rhythm of sales of products to the United States. These countries are big buyers of Brazilian industrial products: vehicles, engines, parts, machines, airplanes, according to analyst Vinicius Torres Freire.