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Latin American agricultural exports grew 8,5%

Posted by Marina

Agricultural exports from Latin American countries grew 8.5% in April, year-over-year, and the growth trend is expected to continue in May, in a scenario in which the region's total exports fell 29.9% . "Agricultural exports from 14 countries in Latin America and the Caribbean increased by 8.5% in dollars in April compared to the previous year, in the context of a profound 29.9% drop in total foreign sales," noted the Inter-American Institute of Agriculture and Cooperation (IICA).

Meanwhile, he pointed out that "the preliminary data for May ratify this trend, indicating that the production and trade of agricultural products will be one of the drivers of the region's economic recovery". The countries considered for the statistics were Argentina, Belize, Bolivia, Brazil, Chile, Colombia, Costa Rica, Ecuador, El Salvador, Guatemala, Mexico, Paraguay, Peru and Uruguay.

In May, according to preliminary data available in seven countries, the trend over the previous month was maintained, with an increase in agricultural exports of 11.1%, while that of total goods decreased by 15.7%. The countries that recorded the largest increase in agricultural exports in April were Brazil (28.9%), Costa Rica (8.2%), Argentina (4.95%), Bolivia (4.9%) and Guatemala (4 , 7%), while agricultural exports from Peru and Uruguay fell significantly, contracting 41.7% and 16.8%, respectively.

The products whose exports registered the biggest increase in April were soy, sugar, beef and pork in the Mercosur countries, which benefited from Chinese demand.

Source: Agrolink