Brazil's industrial output gains momentum in 2004

Brazil’s industrial output gains momentum in 2004

Brazilian industrial output reached its highest level in ten years in 2004, rising 8.3% Brazil's statistics office IBGE said. Strong exports and growing domestic demand contributed to 2004's positive result, indicated IBGE. Mining and steel companies, which produce raw materials for Brazil's industrial sector, also exhibited robust growth in 2004. Iron ore extraction rose 11% in 2004, while extraction of non-iron metallic minerals climbed 17.2%. Furthermore, output of crude steel and metal products rose 3.4% and 10% respectively in 2004. Brazil's pig iron production saw a 4.4% increase last year, while laminated steel production recorded a rise of 3.5%; however, production of steel and iron tubes fell 7.3%.