São Paulo – Brazilian agribusiness exports generated US$ 91.41 billion in revenues from January to November, a 24.3% increase over the same period of last year, according to a survey issued this Wednesday (7th) by the Institute of Agricultural Economy (IEA) in São Paulo. The sector answered to 39.1% of overall foreign sales from Brazil.
Imports, in turn, reached US$ 30.22 billion, a 40.7% increase using the same basis of comparison. Despite the greater growth of sales, the agribusiness trade balance ran a US$ 61.19 billion surplus, representing a 17.5% increase over January to November 2010.
According to the IEA, the sector continues to account for the Brazilian trade surplus. This is so because the remaining segments of the economy ran a US$ 35.22 billion deficit year-to-date as of November.
Agribusiness exports from the state of São Paulo generated US$ 21.47 billion in revenues from January to November, a 14.9% increase over the same period of 2010. Imports stood at US$ 9.59 billion, a 31.2% increase, resulting in a surplus of US$ 11.88 billion, 4.5% more than in the first 11 months of last year.
In the state of São Paulo, however, the performance of agribusiness was not sufficient to prevent the overall trade balance from running a deficit.
*Translated by Gabriel Pomerancblum
