Farm sector trade surplus rises to $34.7 billion in first half

In the first six months of 2011, the farm sector (“agronegócio”) exported goods worth over $43 billion and imported $8.3 billion, for a surplus of almost $35 billion. The surplus was up 20.5%, compared to the same period last year; exports up 23.4%; and imports up 36.8%.

According to the Ministry of Agriculture, the strong performance was led by soy products (grain, flakes and oil), meats, ethanol and sugar (sugarcane products), forest products and coffee. Those five segments represented slightly over 82% of all sector exports, worth $35.5 billion.

China remains Brazil new number one trade partner. Russia, although it banned meat products from Brazil in June, actually increased its imports of farm products in the period by 41%, enabling it to move into third place on the list of big importers of Brazilian goods, just behind the United States and ahead of Holland.