According to the Getúlio Vargas Foundation (FGV), the farming and livestock sector continued to lead Brazilian exports in April.
It is the second month the institution registers the sector in the lead of the country’s sales to foreign markets.
According to FGV, the farming and livestock sector was the only sector that registered a positive variation in the value of Brazilian exports in April compared to a year earlier.
Still, the surplus in the trade balance was tied with the number recorded in the same month in 2022.
“Among the 23 main commodities exported by Brazil, the participation of soybeans was 41.6%,” the foundation informed in a note.
The balance in foreign accounts was positive at US$ 8.2 billion.
Including all sectors besides agriculture, the revenues from shipments to other countries decreased by 5.5%.
Agriculture and livestock are the main sources of dynamism of Brazilian exports so far.
“Soybean leads in the first half of the year, and the continuation of this protagonism requires the support of other agricultural exports,” said the institution in a statement.
Even with stable prices, expectations have been favorable with the resumption of Chinese meat purchases,” FGV reported.
“In addition, with the favorable harvest and the problems in Argentina (drought and exchange rate issues), the scenario signals increased exports from Brazil in 2023 compared to 2022.”
With information from Revista Oeste
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