Brazil keeps increasing the country’s exports to feed the planet. In May 2021, sales of Brazilian agribusiness products abroad reached US$ 13.9 billion. Data from our trade balance show a growth of 53.8% in total foreign sales compared to the same month in 2020.
The main product in our agribusiness export line was soybean, with a share of 52.7% and US$ 7.3 billion worth, which represents an increase of 56.3% compared to the same period in 2020. The second most important exportation product was raw sugar cane, with an increase of 33.8% compared to May 2020 and US$ 780 million worth.
When it comes to the most significant increases, plywood stands out (+211.6%), with export sales rising from US$ 42.7 million in 2020 to US$ 133.2 million in 2021. Soybean crude oil is also an important product in our export line, with an increase from US$ 67 billion in May 2020 to US$ 191 billion this year (+185%).
Our main export destination in May 2021 was China, with a share of 45.8%, followed by the European Union (12.6%) and the United States (6.0%). Other countries also had a remarkable participation: Turkey (3.1%); Thailand (2.7%); Vietnam (1.9%); South Korea (1.7%); Japan (1.7%); Pakistan (1.4%); and Saudi Arabia (1.4%).
Some destination countries showed a significant performance in May 2021 compared to May 2020. Among those, it is worth mentioning Pakistan (+98.6%), Turkey (+85.3%), and Thailand (+85.3%).
All our trade balance data and charts are available on this link (in Portuguese).
Positive scenario in Brazilian agribusiness
The consecutive growth in Brazilian agricultural exports is represented in our last report on the Gross Production Value (GPV). The Brazilian Confederation of Agriculture and Livestock (CNA) estimates that the agriculture GPV will reach R$ 1.238 trillion by the end of 2021. This projection is based on reports and data from May 2021.
The projection shows an increase of 15.4% compared to 2020. This increment can be explained mainly by the increase in commodity prices in international markets. It is also worth highlighting this year’s crop of wheat, which is projected to reach 6,942 tons, 11% more than the 2020 crop.