It is the first time since 2016 that the industrial sector has received more support, signaling a change in resource allocation
The (National Bank for Economic and Social Development) expanded support for Brazilian industry until September 2024. Credit approvals for the industrial sector totaled 27% of the total and surpassed the 26% allocated to agriculture. This is the first period in 8 years in which the industry receives more support than agribusiness, signaling a change in resource allocation.
In addition, BNDES directed R$154 billion to Nova Indústria Brasil. Of this total, R$9 billion went to innovation projects, the largest amount so far.
“Brazil’s growth profile is changing, with a focus on industry and investments. The challenge now is to maintain these indicators. They point to an expansion of production capacity. This growth benefits from macroeconomic conditions and initiatives such as Nova Indústria Brasil, which promotes a digital, sustainable and exporting industry”, said Aloizio Mercadante, president of BNDES.
At the beginning of the month, the IBGE (Brazilian Institute of Geography and Statistics) reported that industrial production increased 1.1% in September, compared to the previous month. Furthermore, the manufacturing of capital goods rose 4.2% in the same period. The unemployment rate fell to 6.4% in the July-September quarter, the 2nd lowest in the Continuous PNAD historical series, which began in 2012. The 3.2% growth in industrial employment helped boost this result.
