Brasília – The recession scenario that Brazil is going through is responsible for an increase of the agriculture sector’s share in the Gross Domestic Product (GDP). According to a balance sheet by the Brazilian Confederation of Agriculture and Livestock (CAN), the sector’s share in the GDP went from 21.4% in 2014 to a 23% estimation in 2015.
According to CNA, Brazilian agriculture should grow 2.4% in 2015, despite not showing growth and with the agribusiness posting a retraction of 0.6% in the year. This result is due mainly to the weak performance of agro-industries and services. The retraction that is being established was impacted by the 0.38% decline in livestock registered until July. Also impacted by livestock, the services sector registered a decline of 0.16%.
According to the organization, the input and primary production sectors should post positive results this year. In the case of inputs, the growth is due to the hike in the price of products throughout the year and the dollar appreciation. The primary sector will register a growth because of the increase in the production of soy, maize, wheat and because the increase in price of the beef arroba (unit of weight corresponding to 33 pounds).
*Translated by Sérgio Kakitani