Brazil

Content type

Dental Products Revised Upwards As Brazil's Medical Devices Market Revised Downwards

Fitch Solutions / Article / Medical Devices / Brazil / Tue 16 Aug, 2022

Key View:

  • We have revised downwards our CAGR forecasts for Brazil's medical device market, but have revised upwards our forecasts for dental products amid an increase in dental plans.
  • Political instability amid Brazil’s presidential election will continue to weigh on Brazil’s medical devices market in the short-term.
  • The US is Brazil's most significant medical devices trading partner, while dental imports and exports will increase at the fastest rate.
  • The recovery in the medical devices manufacturing industry post pandemic is led by initiatives to boost their domestic production.

We have revised downwards our CAGR forecasts for

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Lula Plans To Ramp Up Health Spending In Brazil If Elected, However Challenges Remain

Fitch Solutions / Article / Healthcare / Brazil / Mon 18 Jul, 2022

Key View

  • Brazil's presidential candidate Luiz Inácio Lula da Silva (Lula) will prioritise healthcare and scientific innovation if elected in October 2022, with plans to repeal the country’s long-standing budgetary spending cap.
  • Drugmakers would benefit from a strengthening healthcare system, with heightened demand for and access to medicines.
  • That said, drugmakers will continue to face a challenging business environment, although easing of political uncertainty after the election will support economic growth.

Lula is expected to win the October 2022 election. We at Fitch Solutions believe that former president Luiz Inácio Lula da

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Brazil 2022 Consumer Outlook: Consumer Confidence Positive Despite Prevailing Headwinds

Fitch Solutions / Article / Consumer & Retail / Brazil / Tue 12 Jul, 2022

Key View

  • We expect real household spending in Brazil to grow by 1.3% y-o-y in 2022, with the consumer recovery weighed down by high, rising inflation, even as the effects of the Covid-19 pandemic begin to fade.

  • High inflation will be the main downward pressure for household spending in 2022. Other risks include low real wage growth and the possibility of new Covid-19 variants, which could lead to the re-imposition of Covid-19-related restrictions of supply-chain issues.

Outlook For 2022 And 2023

Real household spending in Brazil will grow to 1.5% y-o-y in 2023, up from 1.3% in 2022. Near-term household

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Brazil's Medical Devices Market Constrained By High Inflation Approaching October 2022 Presidential Election

Fitch Solutions / Article / Medical Devices / Brazil / Thu 07 Jul, 2022

Key View

  • We have revised down our forecast for Brazil’s medical devices market, which is impacted by a slowdown in economic growth, due to high inflation.
  • Growth in the country's medical devices market will be led by the other medical devices and consumables categories.
  • The upcoming presidential election in October 2022 is creating uncertainty for Brazil’s medical devices market.
  • There will be a shift in medical device approvals in Brazil, driven by regulatory changes.

We have revised down our forecast for Brazil’s medical device market, which is impacted by a slowdown in economic growth, due to high inflation. We now project

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America Movil-Gerdau Partnership Highlights Brazil's IIoT Investment Prospects

Fitch Solutions / Article / Telecommunications / Brazil / Mon 04 Jul, 2022

Key View

  • We believe that, despite some infrastructure and digital services engagement shortcomings, Brazil is slowly becoming a digital-ready economy.
  • Businesses are already using a wide range of mass-market connectivity solutions and applications - such as email, messaging, social media, etc - for simple day-to-day workflow processes and recent large-scale investments in infrastructure such as 4G, fibre and data centres will enable more businesses to digitalise their operations.
  • However, industrial Internet of Things-focused projects remain few and thinly spread, further inhibiting Brazil's progress towards digital readiness.

In

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Mixed Outlook For 2022 Fuel Demand In Brazil

Fitch Solutions / Article / Oil & Gas / Brazil / Wed 22 Jun, 2022

Key View

  • Brazil's refined fuel demand is set to grow 2.0% in 2022 on the back of relatively strong consumption of gasoline and diesel, which will outweigh a decline in demand for residual fuel.
  • Gasoline consumption in Brazil is set to continue robust growth of 8.3% over 2022, while diesel is set to see more moderate growth of 1.4%. The demand growth is being supported by state government actions, Petrobras' price parity adjustments and surging ethanol prices.
  • At the same time, we expect residual fuel consumption to shrink amid lower demand from the power sector.
  • In our view, the balance of risks for our refined fuel consumption
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Rising Inflation Expectations Suggest Brazil's BCB Will Continue Hiking Cycle Through August

Fitch Solutions / Article / Country Risk / Brazil / Thu 16 Jun, 2022

Key View

  • We at Fitch Solutions now expect the Banco Central do Brasil (BCB) will extend its rate hiking cycle through its August meeting, and as a result have increased our year-end interest rate forecast to 13.75%.
  • This is an upward revision from our previous forecast that the bank would hold after hiking to 13.25% on June 15. However, rising inflation expectations, more aggressive rate hikes globally, fiscal risks and the bank’s hawkish tone have led to our revision.
  • We continue to expect inflation to moderate towards the end of the year, reaching 8.6% y-o-y from 11.7% in May, though we forecast it will remain far above the BCB’s
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Brazil Coffee: Production To Increase 6.2% Y-O-Y In 2022/23 As Crop Returns To On-Cycle

Fitch Solutions / Article / Agribusiness / Brazil / Mon 06 Jun, 2022

Key View

  • At Fitch Solutions, we maintain our production forecast of 60.0mn 60kg bags for the 2022/23 Brazilian coffee crop, an increase of 3.5mn 60kg bags, or 6.2%, on the 2021/22 crop.
  • We highlight that the potential for severe frost conditions up to the end of August 2022 poses a downside risk to our production forecast, whereas cold conditions in mid-May 2022 did not see temperatures fall below crop-damaging levels.
  • We note that Brazilian coffee output in 2021/22 appears set to exceed our forecast by 5.2%, or 2.8mn 60kg bags, and thus the fall in production from 2020/21, will land at 19.5% instead of 23.5%.
  • Our long-term view
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Brazilian Growth Revised Up To 1.0% In 2022 On Stronger Q1 Data, Though Headwinds Remain

Fitch Solutions / Article / Country Risk / Brazil / Thu 02 Jun, 2022

Key View

  • We at Fitch Solutions we now expect Brazil will post 1.0% real GDP growth in 2022, up from our prior forecast of 0.7% but down from 4.6% in 2021, after growth in Q122 came in above our expectations.
  • Despite the strong Q122 data, we continue to expect the economy to lose steam in the months ahead, weighed down by high inflation and interest rates, political uncertainty and softening demand from China - one of Brazil’s key export markets.
  • In 2023 we expect growth will accelerate, to 1.5%, as inflation and interest rates come down and investor confidence is improved by clarity on the country’s medium-term policy direction.

A

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Brazil Tourism SWOT

Fitch Solutions / Article / Tourism / Brazil / Wed 11 May, 2022

SWOT Analysis

Strengths

  • Brazil remains a popular location for international tourists and has significant cultural wealth, as well as outstanding natural beauty.
  • The Ministry of Tourism continues to provide strong support to the development of the industry.

Weaknesses

  • The hotel industry is fragmented, with many players operating below optimal levels of scale. Hotels in major tourist destinations, such as Rio de Janeiro, are overpriced which deters some visitors.
  • Many legal, environmental and other obstacles impede the building of new hotels.
  • Security issues, particularly in major
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