Brazilian agricultural exports reach US$ 14.2 billion in July 2023


The Brazilian agribusiness trade balance data for July show how our exports keep increasing year after year. This month, the value of goods traded abroad reached US$ 14.2 billion, a 0.1% decrease when compared to the same period in 2022. At the month’s end, agriculture and livestock products had a surplus of US$ 8.9 billion.

In July, the leading product in our agribusiness export line was soybean, which made up 33.5% of total exports and yielded US$ 4.8 billion in revenue, an increase of 1% compared to the same period in 2022. The second most exported product was raw sugarcane, which saw an increase of 23.2% when compared to July 2022 and yielded US$ 1.2 billion. The other notable exports in the Brazilian agribusiness line were soybean bran, corn, and cellulose.

Brazil’s main export destination in July 2023 was China, with a share of 36.3%, followed by the European Union (12.5%), and the United States (5.6%). Other countries also had remarkable shares: Japan (3%), South Korea (2.6%), Argentina (2.6%), Indonesia (2.5%), Mexico (2%), Vietnam (1.9%), and Thailand (1.8%).

Some destination countries showed a significant performance in July 2023 compared to July 2022. Among these countries, the highlights are Argentina (+237%), driven by soybean exports (an increase of US$ 525.9 million); and Indonesia (+81.7%), also driven by soybean bran exports (an increase of US$ 76.5 million).

Trade balance highlight: orange juice

Brazil is the world’s largest exporter of orange juice, accounting for more than 70% of global exports by volume, according to the US Department of Agriculture’s “Citrus” report. In 2022, Brazilian exports totaled approximately 1.3 million tons. The total worth amounted to US$ 2.0 billion, an increase of 21.7% from the previous year. Year to date to July 2023, Brazilian orange juice exports totaled US$1.2 billion.

The main destination for Brazilian orange juice exports was the European Union, which demanded 58.8% of the total exported by Brazil in 2022, i.e. US$1.2 billion. The second main destination was the United States, which absorbed 27.2% of Brazilian exports.

In 2022, compared to the previous year, exports to the European Union increased 13.2%, while exports to the United States increased faster, +62.5%. Year to date to July 2023, exports to the European bloc fell by 1.8% compared to the same period in 2022. On the other hand, in the same comparison, exports to the United States increased 88.2%.