According to the Brazilian Foreign Trade Association (AEB), this year’s exports are expected to reach USD 323.937 billion, while imports should reach USD 237.465 billion, a 12.9% drop. According to AEB’s executive director, José Augusto de Castro, imports are likely to decline faster than exports, leading to a record surplus of USD 86.472 billion in 2023, a 40.5% rise over the previous year’s surplus of USD 61.526 billion. Soybeans should continue to lead Brazilian exports, beating the USD 50 billion mark for the first time, owing to a record crop. Soybean exports are expected to reach a record of 98 million tons in 2023, a 24% rise.
Source: Jornal Cana (*Translated by Ia Niani)