Brazil has one of the largest economies in the world, and they are known for their agribusiness industry. The South American country has been doing business with China, Russia, India, and South Africa, and they formed a group collectively known as BRICS to promote trade and business. The BRICS countries are home to about three billion people, and doing business with them influences the country’s economy positively. Flavio Maluf, the president of Eucatex, recently released a detailed report showing the changes in the agribusiness industry in Brazil. Based on the reports, the month of June 2018 made fewer sales compared to the same month in 2017, but the difference is tiny, at 0.7%. However, Flavio Maluf assured the government that the changes were brought in by the balance of trade for the agribusiness industry, amounting to $8.17 billion. Read more about Flavio Maluf at Wikipedia.
The agribusiness industry is one of the backbone industries of Brazil, responsible for 45.6% of its foreign sales in June alone. It brought in $9.21 billion worth of income for Brazil, which makes their economy stronger and more stable. Brazil is the largest country in South America, and it is also the fifth largest country in the world. The government developed a huge amount of its area to become agricultural lands, and they are now using these lands to produce different crops. Brazil uses its agricultural lands to produce soybeans, forest products, meat, sugar, and coffee, which are the top products being exported by the South American country. Among these products, soybeans represent 53.5% of the country’s export. Most of the soybeans go to Asia, particularly China, and it gives them billions of dollars in profits. Forest products, on the other hand, translate to 14.4% of their export. Meat products represent 8.3% of their exports, while sugar bears 7%, and coffee, at 3.9%.
Brazil’s partnership with the BRICS countries assures them that their business partners will buy their products, and with China and India on their market, Brazil would expect that the demand would never stop. Brazil is also trading with the European Union, which landed as their 2nd largest trade partner. Check: http://economia.estadao.com.br/noticias/releases-ae,conheca-com-flavio-maluf-os-profissionais-mais-requisitados-pelas-startups-em-tempos-atuais,70001683019