This week, we are covering Brazil’s economic outlier: the agribusiness sector. And a trial that will be pivotal for evangelical communities engaging in politics.
Brazilian agribusiness knows no crisis
The 2020 recession is expected to be acute — perhaps the worst on record. GDP projections predict contractions ranging between 6.5 and 9 percent. Industrial output should shrink by 7.9 percent, while services, Brazil’s biggest employing sector, is expected to have a 5.5-percent fall. One sector, however, remains strong: agribusiness. The National Agriculture Confederation, one of the most powerful lobbies in BrasÃlia, expects the sector’s GDP to grow 2.5 percent, reaching BRL 728 billion (USD 137 billion) — which would be the highest figures on record.
Why it matters. Agribusiness is set to account for 24 percent of Brazil’s GDP in 2020, direct and indirectly.
Agribusiness by the numbers. In a year of nothing but negative news, Brazil’s rural economy brings many positive figures:
- Food shipments were up 23 percent between January and April. Exports could amount to USD 102 billion, according to government projections;
- Grain production is expected to set a new record at 250 million tons — which could reach 300 million tons by 2027;
- While the year has...