In the first seven months of 2023, the agricultural sector was the only area in Brazil to see a growth in export revenue.
The international market earnings for the period closed at nearly US$50 billion, a 6% increase compared to the same period in 2022.
While agricultural exports grew by almost US$3 billion, revenues from the extraction and transformation industries fell by approximately US$1.5 billion and US$1 billion respectively, according to preliminary data from Brazil’s trade balance.
In the transformation industry, segments relying on products originating from agriculture, like soybean meal and animal feed, topped the sales ranking with earnings of US$7.2 billion, an 11% growth.
Sugar and molasses industry followed with $6.8 billion, 37% more than in the corresponding period in 2023.
Additionally, the chicken processing industry and the paper and pulp industry, connected to agriculture, also saw increased foreign market revenue.
Chicken processors’ revenue reached US$5.5 billion, representing a 7% growth, while the paper and pulp industry earned nearly US$5 billion, almost an 8% increase.