Wednesday, June 17, 2020

Mining industrial production has a slightly lower drop than the national

The shutdown of several activities due to the pandemic has affected the economy of the state and the country. A survey conducted by the Federation of Industries of the State of Minas Gerais (Fiemg) shows that industrial production in Minas Gerais between March and April fell 15.9%. In Brazil, the drop was 18.8%. According to Daniela Britto, Economics Manager at FIEMG, the figures are worrying but expected. "The fact that industrial activity has been considered essential since the beginning of the pandemic ensured that the decreases in production in Minas Gerais were smaller than those that occurred in Brazil. This means more people working, more income being generated and more tax collection," he said. Compared to April 2019, the state's industrial production fell 20.4% driven by a 1.3% drop in the extractive industry and 24.2% in the processing. Of the 13 activities surveyed by IBGE, 10 recorded negative performance, with greater emphasis on: vehicles (-94.2%), metal products (-57.0%) and machinery and equipment (-49.6%). On the other hand, after an advance of 12.1% in March, food sector production grew 15.9% compared to the same month last year, influenced by the advance in sugar production. Like the food sector, there was an increase in production: other chemicals (41.0%), driven by the production of agricultural inputs; and tobacco (5.3%).
Uai - 16/06/2020 News Item translated automatically
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