A trade balance do agribusiness had a surplus of US$ 105.1 billion in 2021, according to data from the Instituto de Pesquisa Econômica Aplica (Ipea) released this Monday (17).
The value is 19.8% higher than in 2020, and was accompanied by a historic record in the value of exports. Shipments totaled $120.6 billion, up 19.7% from 2020.
according to ipea, the result is linked to the rise in prices of commodities in the international market, in the wake of the global recovery process after the impacts of the pandemic.
The Brazilian trade balance had a surplus of US$ 36.6 billion last year, a value lower than that of agribusiness since the other sectors had, together, a deficit of US$ 68.5 billion.
The institute’s data show that, of the 15 main products exported by Brazilian agribusiness (89.5% of the total), all had an increase in average prices, with some reaching 20%.
Considering the amount exported, six of them had a decrease, including beef (8.3%) due to China sanctions in the second half. Corn and coffee fell, respectively, of 3.6% and 40.7% in the volume exported, as a result of crops affected by climatic factors.
Agribusiness imports also rose in 2021, advancing 18.9% and reaching US$15.5 billion. Brazil has increased import of products such as wheat, olive oil, fish, soybeans and corn.
Regarding commercial destinations, the China continues to be the great consumer market of Brazilian agribusiness. Exports totaled US$41.02 billion in 2021, up 20.6% from 2020.
Among the products exported to the country, the highest increases were soybeans (70.2%), beef (39.2%), cellulose (43.4%), pork (47.7%) and cotton (28.9%).
Ana Cecília Kreter, a researcher at Ipea, says that, even though the amount of beef exported to China is increasing year after year, per capita consumption in the country is still lower than in places like Brazil and the U.S.
“This signals that demand for 2022 may remain heated by the Asian country. As the country’s average income increases and more people are included in the market economy in China, the consumption of higher value-added products, such as animal proteins, has grown”, he says.
For José Ronald Castro de Souza Júnior, director of the Directorate of Macroeconomic Studies and Policies at Ipea, production estimates for 2022 are positive, but the final result of the sector will depend on weather conditions.
Reference: CNN Brasil
I am Sophia william, author of World Stock Market. I have a degree in journalism from the University of Missouri and I have worked as a reporter for several news websites. I have a passion for writing and informing people about the latest news and events happening in the world. I strive to be accurate and unbiased in my reporting, and I hope to provide readers with valuable information that they can use to make informed decisions.
