Brazil increases its exports to feed the world. Year to date, exports have already reached US$ 83.6 billion, an increase of 20.7% compared to the same period in 2020. In August 2021, Brazilian agricultural exports reached US$ 10.9 billion. This result represents a US$ 9.6 billion surplus in the agribusiness trade balance. The total Brazilian trade balance reached a surplus of US$ 7.6 billion.
The main product in our agribusiness export line in August 2021 was soybean, with a share of 28.8% and US$ 3.1 billion worth, which represents an increase of 52.5% compared to the same period in 2020. The second main export product was fresh beef, which shows a 57.7% increase compared to August 2020 and US$ 1 million worth.
When it comes to the most significant increases, raw soybean oil stands out (+283.9%), with export sales rising from US$ 43.2 million in 2020 to US$ 165.9 million in 2021. Plywood is also a significant product in our export line, having had an increase from US$ 64.7 million in July 2020 to US$ 117.3 million this year (+81.4%). Moreover, fresh beef showed a 57.7% increase in its export value.
Our main export destination in August 2021 was China, with a share of 34.9%, followed by the European Union (15.4%) and the United States (7.4%). Other countries also had remarkable participation: Iran (2.5%), Thailand (2.3%), Japan (2.0%), Chile (1.8%), South Korea (1.8%), Saudi Arabia (1.5%), and Turkey (1.4%).
Some destination countries showed a significant performance in August 2021 compared to August 2020. Among these, it is worth mentioning Iran (+169.8%) and Chile (+110.7%). When considering the year-to-date until August, the highest positive variation in comparison to the same period in 2020 occurred in exports to Iran (+124.3%), followed by Chile (+56.7%) and Thailand (+43.8%). Our South American partner mostly purchased fresh chicken meat, which represented an increase of US$ 29.2 million on this product.
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A positive scenario in Brazilian agribusiness
Our last report on the Gross Production Value (GPV) shows the continuous growth in Brazilian agricultural exports. The Brazilian Confederation of Agriculture and Livestock (CNA) estimates that the agriculture GPV will reach R$ 1.23 trillion by the end of 2021. This projection is based on reports and data from August 2021.
The projection also shows an increase of 10.3% compared to 2020. Soybean and corn remain the major products responsible for the good results. The GPV projection of livestock farming for 2021 is 9.1% higher than the result from 2020, reaching R$ 429 billion. Beef alone is responsible for more than 52% of the livestock farming GPV.
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