The Gross Domestic Product (GDP) of the agricultural sector grew the most in the first quarter of 2021, according to data released on June 1 by the Brazilian Institute of Geography and Statistics (IBGE). The sector registered a 5.7% growth compared to the fourth quarter of last year and a 5.2% growth compared to the same period in 2020. The Brazilian GDP grew 1.2% in the first quarter of 2021 compared to the fourth quarter of 2020, in the seasonally adjusted series. In addition to Agriculture (5.7%), growth was also registered in the Industrial (0.7%) and Services (0.4%) sectors. According to IBGE, the agricultural sector results can be explained mainly by the solid performance of some crop products in the first quarter, such as soybeans, tobacco, rice, and by productivity. “Cattle raising and the results of agribusiness exports in the first quarter are also factors. Despite the strong performance of these activities, the reduction in corn and cassava production negatively impacted”, explains José Garcia Gasques, Coordinator of Policy Assessment and Information at the Ministry of Agriculture, Livestock, and Food Supply.
Source: Datamar News