SUGAR EXPORTS BOOST SÃO PAULO’S AGRICULTURE TRADE BALANCE

In Q1 2024, São Paulo’s agriculture industry outperformed with a 23.4% increase in trade balance, totaling USD 5.44 billion. The sugar-energy industry accounted for more than half of overall exports, which totaled USD 2.76 billion and were mostly driven by sugar. São Paulo is Brazil’s largest exporter, accounting for 43.1% of total exports and 7.8% of imports. The main export destinations were China, the European Union, and the United States. The agriculture sector’s strong performance helped the state reduce its trade balance deficit by 26.7%.
Source: RPA News