São Paulo's agricultural sector registers a balance of US$2,78 billion in October

The São Paulo trade balance had a deficit of US$ 1,1 billion in October 2024, reflecting a 1,54% drop in total exports and a 17,84% increase in imports. This is what is revealed in the Foreign Trade Monitoring report, prepared by the Economic Department of the Federation of Agriculture and Livestock of the State of São Paulo (Faesp), based on data from the Ministry of Development, Industry, Commerce and Services (MDIC). 

The document also points out that agribusiness, responsible for 43% of the state's exports, reached US$ 2,78 billion in the month, up 16,45% compared to October 2023. Products such as raw cane sugar (+23,4%), fresh beef (+63,3%) and cellulose (+128,3%) drove growth, while soybeans (-81,5%) and ethyl alcohol (-56%) saw a reduction. 

Agribusiness imports grew 15,58%, totaling US$ 492,7 million. Natural rubber (+110,1%) and products such as paper and salmon led the increase in imported value. 

From January to October, São Paulo's agribusiness generated a surplus of US$21 billion, but the deficit of US$26,1 billion in other sectors resulted in a negative balance of US$5,1 billion in the state's balance sheet.

In Brazil, agribusiness contributed a positive balance of US$ 12,5 billion in October, helping the national trade balance to close with a surplus of US$ 4,34 billion.