Agro records record trade balance in 2020

The Brazilian agribusiness trade balance recorded a record surplus from January to October this year, with a balance of US$75,5 billion.

Exports had revenue of US$85,8 billion, an increase of 5,7% compared to the same period in 2019, with a shipped volume of 189,4 million tons, an increase of 12,4%. The analysis is from the Brazilian Agriculture and Livestock Confederation (CNA) based on data from the Foreign Trade Secretariat of the Ministry of Economy.

The best-selling products in 2020 were soybeans (US$ 28 billion), fresh beef (US$ 6,1 billion), raw cane sugar (US$ 6 billion), cellulose (US$ 5 billion) and soybean meal ($5 billion). These products represented 58,3% of Brazilian agricultural exports in the first ten months.

China remains the main destination for foreign sales, with a share of 35,8%. The European Union (16,2%), the United States (6,5%), Japan (2,4%) and South Korea (2,1%) complete the ranking of the five main markets in the period from January to October.

Exports last October fell 6,2% compared to the same month in 2019, totaling revenue of US$8,2 billion and a surplus of US$7 billion. The total shipped was 18,1 million tons, a reduction of 3,2%. Raw cane sugar was the most exported product (US$ 1,1 billion in value) and China was also the main buyer of agricultural products (26,5% of the total).

Visit here the complete trade balance document