Brazil Industry

Brazil Industry is developing at a fast pace and is enhancing the financial status of the country. Major Brazil Industry is said to be the iron and steel production, chemicals production, petroleum processing, automobile assembly and cement making. With the course of time Brazil Industry is becoming mostly dependent on technology, but still that technological advancement have not been able to occupy the traditional industries.

In 1973, the highest industrial growth was gained when the manufacturing sector developed by 15.8%. According to the Brazilian Statistical Institute, IBGE, manufacturing reached an annual average of 0.7% between 1988 and 1998 whereas manufacturing expanded from 2.6% growth in the third quarter of 2002 to 6.6% in the fourth quarter. In 2002 construction industry flourished a lot.

In 1969, 3.7 million tons of crude steel had been produced, in 1998 the total output of processed ore reached to 190 million tons. Production exceeded domestic needs, which are really a good sign of economic growth for all countries. The major negative factor is lack of domestic soft coal. Companhia Vale do Rio Doce is probably the biggest mining company of Brazil. It produces around 23% of the mineral output of the whole country.

Apart from this, the motor vehicle production is considered to be the industrial backbone of Brazil Industry. On the other hand, the automobile industry is expanding rapidly with the aid of foreign investment.

Brazil is also strong in mining and refining petroleum products. In recent times the foreign countries are pouring a lot of money for the sake of advancement of Brazil Industry.