LatinNews Daily - 21 March 2025

*Brazil’s national statistics institute (Ibge) has released new figures showing that innovation in the country’s industrial sector has dropped from a rating of 68.1% in 2022 to 64.6% in 2023. The Ibge’s innovation report (Pintec), a research collaboration carried out in partnership with the government’s industrial development agency (Abdi) and public university Universidade Federal do Rio de Janeiro (UFRJ), measures the number of Brazilian companies that have introduced a new product to the market or have substantially improved a function of the business. According to the latest Pintec data, 2023 marks the second consecutive year to register an annual decrease in industrial innovation, as 2022 also saw a drop from a rating of 70.5% in 2021. The industrial categories that had the highest innovation rating in 2023 included chemical products (88.7%) and machinery and equipment (88.0%), while the categories with the lowest ratings were tobacco and smoking products (38.7%) and wood manufacturing (31.2%). The latest Pintec report also showed that only 34.3% of Brazilian manufacturers invested in research and development (R&D) in 2023, a very slight decrease from 34.4% in 2022. When the researchers surveyed companies about the main obstacles hindering innovation, 44.2% of respondents pointed to ‘economic instability’, followed by ‘limited capacity of internal resources’ (42.1%) and ‘increased competition’ (41.4%).

End of preview - This article contains approximately 224 words.

Subscribers: Log in now to read the full article

Not a Subscriber?

Choose from one of the following options

• Subscribe
• Sign up for a one-time, 14-day trial