A price slump for natural resources shrunk Brazilian revenues in 2015. The country has seen political instability, inflation, and currency deterioration. This triggered unrest both economically and socially.
Investment in equipment was negatively impacted. In 2015, Brazil saw a GDP growth of -3.8%, and the growth rate of the building industry was -11%. Summer in 2015 was not as scorching as in 2014.
JARN estimates that air conditioner sales fell by 17.4% in Brazil, and market scale came to 3.8 million units in 2015. Owing to the recession in the country, many foreign manufacturers including Japanese manufacturers faced operational difficulties, and some even shut down factories or closed their business.