Brazilian electronics industry sees 29% growth in 2024
Frequent heatwaves, along with economic growth, employment increase, and rising incomes, drove a 29 percent increase in the electronics industry in 2024 compared to the previous year. A total of 117.7 million units of products, including refrigerators, televisions, fans, and water filters, were sold, according to data from the National Association of Manufacturers of Electrical and Electronic Products (Eletros), released Monday (Mar. 17).
The standout performer was air conditioning, which reached a record 5.9 million units manufactured, marking a 38 percent increase from 2023 to 2024. This surge propelled Brazil from fifth to second place among the world’s largest manufacturers of the product, trailing only China.
“We’ve seen increased job creation, better inflation control in the first half of last year, and a reduction in interest rates for part of the year, all of which made it easier to purchase our products, which are typically paid in installments that must fit within people’s budgets. Another key factor was the weather. The rising temperatures have led people to seek comfort, convenience, and well-being,” said Jorge Nascimento, president of Eletros, following a meeting with President Luiz Inácio Lula da Silva and ministers at the Planalto presidential palace.
For the brown goods sector, which includes televisions, production reached its highest level in the past decade and the second-highest in history, with 13.5 million units sold, a 22 percent increase compared to 2023. In the white goods sector, which encompasses refrigerators, stoves, and washing machines, the Brazilian industry saw a 17 percent growth in 2024, with an additional 15.6 million units sold compared to the previous year.
During the meeting, industry leaders presented key figures from the household appliance sector and called for a return to an economic environment similar to last year’s.
“It’s crucial to maintain a prosperous economic environment—this includes fiscal adjustment, inflation control, and managing benchmark interest rates. If these are handled with the same care as in the first half of last year, we expect to at least match 2024’s figures and, in a more optimistic scenario, achieve 10 percent growth,” estimated Nascimento, from Eletros, which represents 36 companies employing approximately 200,000 workers and accounting for 3 percent of the national industry’s Gross Domestic Product (GDP).
“It’s not just ovens bringing good news, but also refrigerators, washing machines, televisions—everything is growing, and that’s something to celebrate. A 29 percent growth in the durable goods industry is exceptional in today’s global economy,” emphasized Brazil’s Vice President, Geraldo Alckmin. He also highlighted economic factors such as increased employment and income, as well as government’s industrial policies, as key drivers behind this expansion.
