All sectors of the economy grew last year, particularly agriculture, which posted a 15.1% expansion from 2022.
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Data from government statistics agency IBGE showed that from July to September services and industry grew by 0.6% each, while the agricultural sector contracted by 3.3% from the second quarter.
Brazil grew in most areas of livestock production last year. Revenue was the highest ever, as well as the number of cattle heads and poultry eggs.
Brazil’s GDP grew over the previous quarter in the first three months of this year, driven by increased soybean production.
The 2022/2023 Brazilian agribusiness financing plan (Plano Safra) will make BRL 340.8 billion (about USD 65 billion) available to agribusiness. The amount is 36% higher compared to the previous year’s credit.
Brazilian exports were down by 9.6% in August, while agribusiness sales climbed by 9%.
Overall sales from Brazil slid 4.2% last month, while agriculture and livestock product exports soared.
Impact of the crisis generated by the pandemic is expected to make the Brazilian economy remain stable in 2020, but agribusiness will grow by 2.9% as per estimates of the Central Bank.
Quarter three economic expansion was driven by services, the Brazilian Institute of Geography and Statistics (IBGE) reported.
Brazil’s Agriculture minister Blairo Maggi will lead a delegation to Agriscape, in a bid to bring foreign investors into projects in Brazil.
Delegates from 25 Brazilian agribusiness companies and organizations will join the trip, which will last from this Friday (31) through September 8. Turkey will also be on the itinerary.
The Brazilian monetary authority believes the economy will see 1.6% growth in 2018, down from a prior 2.6% estimate.
The country’s GDP grew from January to March over the same months of 2017, according to a FGV survey. The indicator is not the official one.
