LatinNews Daily - 25 July 2022

In brief: New figures highlight shrinking of Brazilian industry

*Brazil’s national statistics institute (Ibge) has released new figures revealing the shrinkage of the country’s industrial sector in the 2010s. Ibge highlighted that from 2011-2020, 9,579 companies in the 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 from 2011-2020 was the food industry, which grew by 5.9 percentage points over the ten year period, with more than half of this growth taking place between 2019 and 2020.

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