Well, with exports growing at record levels and imports relatively stable, Brazil's agribusiness balance is growing significantly, as shown in the data in the first figure below
The figure shows Brazil's agricultural trade balance between 2000 and 2023, in billions of dollars, according to AgroSTAT data.
Brazil's agricultural trade balance increased for the fourth consecutive year in 2023 and exceeded the previous record set in 2022.
The fact is that agribusiness exports amounted to the equivalent of US$166.5 billion in 2023, an increase of 4.8% compared to 2022 (US$158.9 billion). Since 2000, Brazilian agribusiness product exports have jumped from US$20.6 billion in revenue to US$166.5 billion in 2023, a cumulative growth of more than 8 times in this period or an average annual growth of about 30.0%.
In contrast to exports, Brazil's imports remained relatively stable throughout the series that began in 2000 (Figure II). This is because Brazil's imports of agribusiness products remain relatively constant, fluctuating between US$13.0 billion and US$17.0 billion annually.
The figure shows the evolution of Brazil's exports and imports of agribusiness products, between 2000 and 2023, in billions of dollars, according to AgroSTAT data.
This growth in the agricultural trade balance was stimulated by increased exports in sectors such as the soybean complex, which leads agricultural sales in Brazil, with revenues in 2023 of US$67.3 billion or 40.0% of total revenues for the year for the United States. $166.5 billion. Revenues of $67.3 billion from soy complex products were a record and 10.6% higher than those recorded in 2022 ($60.8 billion)
The meat sector (beef, pork and chicken) in Brazil sold the equivalent of US$23.5 billion, a decrease of 8.1% compared to 2022 (US$25.6 billion). The sugar and alcohol complex, Brazil's third major agricultural export sector, exported the equivalent of US$17.3 billion in 2023, an increase of 36.0% compared to 2022 ($12.7 billion).
Speaking of exports, click here and see annual data on beef exports from Brazil over the past few years!
Changing the subject, see also the annual data on fertilizer imports by Brazil. It is worth noting that the prices of fertilizers imported by Brazil in 2023 fell, on average, by about 45.0% compared to 2022. Click here and check it out!
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