Brazilian agribusiness continues on a positive growth trend. In April, exports hit US$ 14.9 billion, which represents a 14.9% increase compared to the same period in 2021. Year-to-date, the growth is 34.5%. These results mean a surplus of US$ 13.6 billion in our agricultural trade balance.
The main product in our agribusiness export line in April was soybean, with a share of 45.3% and US$ 6.7 billion sales value, which means an increase of 1% compared to the same period in 2021. The second main export product was fresh beef, which showed a 63.5% increase compared to April 2021 and US$ 977.7 million worth. Soy bran, fresh chicken meat, and cellulose complete the list of the most exported products.
Our main export destination in April 2022 was China, with a share of 39.74%, followed by the European Union (15.2%) and the United States (5.9%). Other countries also had remarkable participation: Turkey (2.3%), Thailand (2.2%), Vietnam (2.2%), India (2.1%), Japan (2.1%), Mexico (1.7%), and Pakistan (1.6%).
Some destination countries showed a significant performance in April 2022 compared to April 2021. Among these, the highlights are India (+126.1%), driven by exports of crude soy oil (an increase of US$ 247.5 million); and Japan (+99.6%), driven by fresh chicken meat sales (an increase of US$ 27.2 million).
Trade balance highlight: soybean
According to the Food and Agriculture Organization of the United Nations (FAO), in 2019, Brazil surpassed the United States and became the world’s largest soybean producer. In 2021, the country exported US$ 38.6 billion, an increase of 35.3% compared to the previous year. When it comes to exports, Brazil is also the global leader. In 2021, the country exported US$ 38.6 billion, an increase of 35.3% over the previous year.
Year-to-date, Brazilian exports reached US$ 17.6 billion, representing an increase of 37.5% compared to the same period in 2021. In the same period, considering volume, exports reached 32.4 million tons, which represents an increase of 2.8% compared to 2021.
Projections for 2022
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, by the end of 2022, the agriculture GPV will reach R$ 1.37 trillion (approx. US$ 285.5 billion). This projection is based on reports and data from April 2022.
All our trade balance data and charts are available on this link.