Agroindustry accumulates expansion of 1,1% in 2022

According to FGV Agro's monthly survey on Agroindustry, in 2022, agroindustrial production registered an increase of 1,1% compared to the previous year. This expansion was derived exclusively from the Food and Beverages segment, whose growth was 2,5%. In turn, the Non-Food Products segment recorded an annual drop of 0,5%.

Although the growth in Agroindustry production ended the year below projections, it is important to highlight that the performance was superior to other industrial sectors, since the Extractive and Processing Industries presented contractions of, respectively, 3,2% and 0,4. XNUMX%.

Furthermore, it is worth highlighting that Agroindustry ended the year losing momentum, registering, in December/2022, its first contraction (-1,6%, in the interannual variation) since February/2022. This slowdown was practically widespread among the agro-industrial sectors, which allows us to conclude that, more than any problem specific to Agroindustry, it is a reflection of the loss of dynamism in the national economy.

For 2023, the scenario is still very uncertain. The domestic market should have difficulty growing robustly, whether due to the contractionary monetary policy, the possible slowdown in the labor market, or due to political turbulence. In the international market, the world should have a smaller expansion in 2023 than it had in 2022, which should impact Agroindustry. However, foreign trade could bring some relief, mainly conditioned on the performance of the Chinese economy.

An increase of 3,4% compared to the same month in 2021, corresponding to the ninth consecutive month without contraction. The month's expansion was driven exclusively by the Food Products and Beverages segment, which increased by 7,9%. The Non-Food Products segment, in turn, recorded a drop in its production volume of 1,2%. As a result, the year-to-date expansion of agro-industrial production is 1,3% (January to November 2022 compared to the same period of the previous year).