Agribusiness exports grow 17.5% in first four months of 2020

Brazilian agriculture exports grew 17.5% in the first four months of the year, compared to the same period last year. Despite the new coronavirus pandemic, there was an increase in exports to Asia, especially China.  Agribusiness’ share of total exports went from 18.7% in 2019 to 22.9% in 2020.

The products that increased in the period were soybeans (up 29.9%), raw cotton (up 69.5%), raw wood (up 28.9%), natural honey (up 17.2%), and spices (up 3.2%).  According to data released on Monday (May 4) by the Ministry of Economy, in April Brazilian exports totaled US$18.3 billion and imports, US$11.6 billion, with a positive balance of US$6.7 billion, and current trade volume of US$29.9 billion. In the year so far, exports totaled US$67.8 billion and imports, US$55.6 billion, with a positive balance of US$12.3 billion and a trade flow of US$123.4 billion. Unlike the scenario in much of the world, Brazil kept its trade balance quite stable.

Some agribusiness products broke monthly historical records for exports in April, such as soybeans with 16.3 million tons; soybean meal with 1.7 million tons; fresh, chilled, or frozen beef, with 116,000 tons; pork meat with 63,000 tons and raw cotton, with 91,000 tons. On the other hand, there was a fall in exports of wheat, rye, and unground corn, except sweet corn, unroasted coffee, live animals, fruits, and nuts.

Asia

Brazilian exports (from all sectors) to Asia rose 15.5% in the first quarter of the year, compared to the same period in 2019. The Asian market now represents 47.2% of our total exports. Despite the impact of the pandemic on the Chinese economy, Brazilian exports to China grew 11.3% in the period, with emphasis on soy (+ 28.5%), fresh, chilled or frozen beef (+ 85.9% ), fresh, chilled or frozen pork (+ 153.5%) and raw cotton (+ 79%).

The figures for the first four months show that, in dollars, China bought from Brazil three times the amount imported by the United States and twice as much demanded by the European Union.

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