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Agribusiness trade balance is record in the accumulated result for the year

Posted by Marina

The Brazilian agribusiness trade balance registered a record surplus of US $ 61.5 billion from January to August 2020. Exports totaled, in revenue, US $ 69.6 billion in the accumulated of the first eight months of this year, up 8 , 3% in relation to the same period in 2019, and 152.4 million tons in volume (increase of 15.8%).

The data were released by the Confederation of Agriculture and Livestock of Brazil (CNA), based on information from the Ministry of Economy. The most exported products were: soybeans (US $ 25.7 billion); fresh beef (US $ 4.8 billion); raw cane sugar (US $ 4.2 billion); cellulose (US $ 4 billion) and soybean meal (US $ 3.9 billion). These five products represented 61.3% of total shipments in the period.

China was the main destination for Brazilian products from January to August, with revenues of US $ 26.4 billion and a 38% share of exports. The second market was the European Union, which accounted for 16% of agro shipments, which totaled US $ 11.3 billion. Sales to the United States were $ 4.2 billion, a 6.1% share of the total. Japan and Hong Kong complete the list of main consumers in the accumulated of 2020.

In the monthly performance, exports in August totaled US $ 8.9 billion, closing the month with a positive balance of US $ 8 billion, an increase of 7.8% in relation to August 2019. In volume, the total shipped was 22 , 2 million tons, 15.4% change compared to the same month last year.

The main products exported in the month were soybeans (US $ 2.2 billion), corn (US $ 1 billion), raw cane sugar (US $ 824.3 million), fresh beef (US $ 654.2 million) and soybean meal ($ 497 million), which accounted for 58.7% of total foreign sales in the month. China, the European Union, the United States, South Korea and Thailand were the main destinations for Brazilian agribusiness products.