October 10, 2018 / 7:54 PM / 7 months ago

After World Cup bonanza, Brazilian electronics imports fall -Maersk

SAO PAULO, Oct 10 (Reuters) - Shipment of electronic products fell in Brazil after the soccer World Cup in June and July with foreign exchange volatility and uncertainty over the presidential election also playing a part, a senior official at AP Moeller - Maersk A/S said on Wednesday.

“The first quarter had extremely high volumes due to imports of TVs for the World Cup, but now we are going through a ‘hangover’ due to the uncertainties affecting importers and consumers,” said Fabio Britto, gereral import manager in Brazil at Maersk.

The electronic product volume rose 22 percent, 32 percent and 49 percent in January, February and March respectively compared to the same months a year earlier.

But volumes reversed and fell 2 percent in July and 15 percent in August, according to Maersk in what could be an ominous sign for major electronics retailers such as Via Varejo SA and Magazine Luiza SA.

Smartphones may have the largest import volume in coming months as retailers prepare for so-called Black Friday shopping on Nov. 23, an annual sales event that has been gaining popularity in Brazil. Consultancy Ebit|Nielsen expects e-commerce sales overall to rise 15 percent this year during the sale. (Reporting by Gabriela Mello and Tatiana Bautzer; editing by Grant McCool)

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