Electronics sales in Brazil grow by 13% in the first half of the year

The electronics industry in Brazil, a significant player in Latin America’s economy, saw a notable increase of 13% in sales during the first half of this year compared to the same period in 2022.

This information was shared by the National Association of Electronics Manufacturers (Eletros) on Monday.

Between January and June, 44.02 million electronic devices were sold, surpassing the 39.07 million units sold during the corresponding period last year.

The announcement was made in São Paulo by Eletros.

During a press conference, Jorge Nascimento’s head of Eletros stated that this growth marks a turning point after experiencing a continuous decline over the past 18 months.

“If the second half of the year maintains a performance level similar to the sector’s historical average, we anticipate an annual growth rate of up to 6% compared to 2022,” he explained.

The executive further highlighted that high interest rates continue to pose a major challenge to the industry’s sales recovery.

These rates, determined by the Central Bank at 13.75 percent, particularly impact the sales of financed items such as refrigerators, televisions, stoves, and washing machines.

The most popular product in the first semester was the air fryer, which experienced a substantial 85% growth compared to the first six months of 2022.

Eletros expressed that these results may signify a potential turnaround for the industry’s prospects if sustained throughout the second half of the year.

More: Brazil news in English, every day from The Rio Times.

This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error