Consignment of automakers ' profits grow 86% in the first half

After substantial fall in 2012, remittances of profits of automakers of Brazil for its headquarters abroad returned to grow. The advance was 86% in the comparison of half against half, $ 845 million to $ 1.57 billion, according to figures released by the Central Bank this week. With this value, the vehicle manufacturers in the period between the economic sectors in the country that paid dividends for foreign controllers. Is behind the drinks, but for little, with the minor difference of $ 203 million.
According to the data recorded by BC, in 2011 the automotive sector was the champion in sending profits to arrays, totaling $ 5.6 billion. The figure fell to less than half in 2012, amounting to US $ 2.44 billion, but still the automakers were in second place among the sectors that most referred dividends abroad last year.
The exchange rate variation had strong influence to lower remittances. As the dollar jumped to something like $ 1.80 to $ 2.00 at the end of 2012 and now the hillside in R $ 2.30, became more expensive for the companies located in Brazil to pay profits to arrays, because the local billing in real worth less at the time of conversion to dollars. Even at that time, sending money abroad is increasing. This move proves the good profitability of Brazilian business, in addition to the need of the arrays to receive more and more of its subsidiaries to compensate for losses in developed markets, especially in Europe.
The increase in remittances is faster than the evolution of direct investments in Brazil. According to data from BC, from January to June the automakers took $ 830 million for investments of Brazilian subsidiaries, 39.5% more value than the $ 595 million for the first half of 2012. Last year, the industry received from out the total of $ 1.25 billion.
In terms of foreign direct investment, the automotive industry in Brazil received in the first half only 3.8% of the total, getting in eighth position (the first was the oil and gas sector).
The volume of investments comes from the arrays so far is well below the amount projected by Anfavea, the manufacturers ' Association. In its latest survey, the entity estimates that automakers in Brazil will invest $ 60 billion over the period 2013-2017. Much of it must not come from outside, but here the same, probably of financing from BNDES.