The Gross Domestic Product (GDP) of agribusiness rose 2.06% in December and closed 2020 with a record increase of 24.31%, more than a quarter of Brazil’s economy. The productive chain of agriculture and livestock had significant expansions in 2020, increasing by 24.2% and 24.56%, respectively. As a result, agribusiness increased its share of the country’s total GDP to 26.6% last year, compared to 20.5% in 2019, according to CAN and Cepea. All Brazilian agribusiness sectors increased in 2020, with emphasis on the primary sector (56.59%), followed by agroservices (20.93%), agribusiness (8.72%) and inputs (6,72%). “The performance of agribusiness GDP reveals the evolution of the sector’s real income, in which volume variations and real prices changes are considered,” said CNA.
Source: Reuters
*Translated by Ia Niani