LatinNews Daily - 06 February 2023

In brief: Brazil’s industrial production drops in 2022

* Brazil’s national statistics institute (Ibge) has released the latest figures on industrial production for December, which showed no change from the previous month, although it marked a 1.3% drop from December 2021. The total accumulated production for 2022 showed a 0.7% drop compared with the previous year. The biggest decreases in 2022 were registered in sectors including the extractive industries (-3.2%); metal production (-9%); and IT and electronic equipment (-10.7%). Out of the 26 product categories measured, nine showed increases in production, including coking coal, petroleum-derived products & biofuels (+6.6%) and food products (+2.4%). Ibge’s research coordinator, André Macedo, pointed out that “a lot of the growth in 2021 (3.9%) was directly related to the significant drop in 2020,” which he said was caused by the start of the coronavirus (Covid-19) pandemic.

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