Brazil’s agricultural industry has a surplus of US$43.7 billion in 2022 -IPEA

RIO DE JANEIRO, BRAZIL – The Institute for Applied Economic Research (Ipea) reported that Brazil’s agricultural trade balance showed a surplus of US$43.7 billion from January to April. The sector’s exports rose 34.9%, while imports remained relatively stable, increasing 0.7% compared to the same period in 2021.

“As the balance of other goods showed a deficit of US$23.5 billion in the same period, the overall trade balance (with products from all sectors of the economy) showed a surplus of US$20.2 billion,” the institute said in a statement.

According to Ipea, Brazilian agribusiness exported US$14.9 billion in April, 14.9% more than in April last year. The sector’s surplus was $13.6 billion, up 15.2% from April 2021. Brazilian imports in the sector totaled US$1.3 billion in the month, up 11.7%.

“Other goods closed the month of April with a deficit of US$5.5 billion – US$3.7 billion more than in the same period of 2021. Nevertheless, the overall trade balance closed with a positive balance of US$8.1 billion in April,” the institute pointed out.

As for imports, Ipea pointed out that fertilizer prices increased by 72.4% in April compared to the same month last year. So far this year, the increase in imports of these inputs amounted to 6.4%.

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