Friday, March 27, 2020

Packaging sector grows and moves more than R$ 80 billion in 2019

Physical packaging production grew 3% in 2019, after advancing 1.9% and 2.6% in 2017 and 2018, respectively. The data are from the ABRE Macroeconomic Study of Packaging and Consumption Chain in Brazil, under the seal of the Brazilian Institute of Economics of the Getúlio Vargas Foundation (IBRE/FGV), which was released on the last day 18 for the entire sector. The gross value of physical packaging production is expected to reach R$ 80.2 billion, an increase of 6.5% over the R$ 75.3 billion achieved in 2018. The positive results were influenced by some of the main consumer goods manufacturing industries, especially in two important segments that are considered the main customers of the packaging industries: food up 1.6% from a -5.3% drop in 2018 and beverages that grew 4.0% last year. Within the physical production of packaging by classes, glass and metallic packaging stood out with the highest rates of increments in its production, with growth of 12.2% and 6.1%, respectively. The wooden packaging was the only ones to show shrinkage in their physical production. The good results of the sector also influenced the level of employment in the packaging industry, which reached a total of 223,280,000 jobs in December 2019, a growth of 1.9% compared to the same period a year earlier. For 2020, the scenario is still uncertain. The coronavirus pandemic has caused shocks in global markets, global supply chains and economic activity as a whole. According to Aloisio Campelo Junior, Superintendent of Public Statistics at IBRE/FGV and responsible for the Study "in a more conservative scenario, GDP can grow close to 1% and the packaging industry 0.6% in 2020. But surely any recovery will come in the second half. And if the health work is done well, in June, July we can return to normality. Investments tend to slow down. Even so, the inflation scenario remains benign. But certainly uncertainty will be a worrisome factor." In addition to Covid-19 other threats to the base scenario are oil instability, discontinuity of the reform agenda and increased political and fiscal uncertainty. The manufacturing industry is expected to grow by only 0.8% by 2020. The Argentine Effect has played a prominent role in the poor performance of the transformation in recent years. This sector will be the most affected by coronavirus shock.
ABRE - 23/03/2020 News Item translated automatically
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