São Paulo – This Tuesday (11th), the Brazilian Ministry of Agriculture, Livestock and Supply has released the agribusiness Gross Domestic Product (GDP) estimate for this year. According to the ministry’s survey, the GDP should be R$ 1.03 trillion (US$ 430.2 billion) in 2014, up 4% from 2013.
The ministry has also informed that the Gross Production Value (GPV) of agriculture in Brazil should be R$ 314.8 billion (US$ 131.5 billion), up 10% from 2013. Should the estimate prove true, it will be an all-time high, according to the ministry.
When combined with the GPV for livestock, the sum may reach R$ 462.4 billion (US$ 193.1 billion), up 7.5% from 2013.
According to the ministry, agribusiness accounts for 41% of exports from Brazil. Agribusiness exports amounted to nearly US$ 100 billion in 2013, a figure equivalent to 23% of the country’s GDP. The sector accounted for 30% of new jobs created.
The information was released at a ceremony held to mark the beginning of the 2013-2014 crop harvest, in the city Lucas do Rio Verde, in the state of Mato Grosso, attended by president Dilma Rousseff and the Agriculture minister Antonio Andrade.
The National Supply Company (Conab) has also reported this Tuesday that the 2013-2014 grain crop should amount to 193.6 million tonnes. The estimate is down 3.1 million tonnes from January projections.
Should it come to pass, however, the harvest will be up 3.6% from the prior crop, and will exceed 190 million tonnes for the first time.
Translated by Gabriel Pomerancblum
