Brazil surpasses food exports from 2020; check the main results for October


Brazil increases its exports to feed the world and surpasses the amount exported last year. Year to date, exports have already reached US$ 102.4 billion, an increase of 10% compared to the same period in 2020. In October 2021, Brazilian agricultural exports reached US$ 8.8 billion. The total Brazilian trade balance achieved a surplus of US$ 2 billion.

The main product in our agribusiness export line in October 2021 was soybean, with a share of 19.5% and US$ 1.7 billion worth, which represents an increase of 94.3% compared to the same period in 2020. The second main export product was fresh sugar cane, which shows a 27.3% increase compared to October 2020 and US$ 720.4 billion worth.

Concerning the most significant increases, raw soybean oil stands out (+862.1%), with export sales rising from US$ 18.5 million in 2020 to US$ 178.3 million in 2021. Fresh chicken meat is also a relevant product in our export line, increasing 61.9% this year.

Our main export destination in October 2021 was China, with a share of 25.5%, followed by the European Union (14.2%) and the United States (9.9%). Other countries also had remarkable participation: Japan (3.3%), Vietnam (2.9%), Chile (2.4%), Iran (2.1%), Thailand (2%), South Korea (1.9%), and India (1.9%).

Some destination countries showed a significant performance in October 2021 compared to October 2020. Among these, it is worth mentioning Chile (+70.5%) and Iran (+44.7%). When considering the year-to-date until October, the highest positive variation compared to the same period in 2020 occurred in exports to Iran (+90.4%), followed by Chile (+59.6%).

All our trade balance data and charts are available on this link.

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$ 1.20 trillion  by the end of 2021. This projection is based on reports and data from October 2021.

The projection also shows an increase of 8.6% compared to 2020. Soybean and corn remain the major products responsible for the good results. The GPV projection of livestock farming for 2021 is 3.8% higher than the result from 2020, reaching R$ 406.2 billion.