403
Sorry!!
Error! We're sorry, but the page you were looking for doesn't exist.
Brazil's Food Industry Is The Backbone Of National Manufacturing And Trade
(MENAFN- The Rio Times) Brazil's food industry led the country's industrial sector in 2023, according to official data from IBGE. This sector made up 18.6% of all industrial sales, the highest share among all industries.
Food factories processed over 60% of Brazil's farm output and earned R$1.161 trillion ($209 billion) last year. This growth helped Brazil's entire industrial sector reach R$4.9 trillion ($883 billion) in sales.
Food exports played a big role in this success. In 2023, Brazil sold US$62 billion worth of food and drinks to other countries, with beef and chicken as top products.
Major buyers included China, the European Union , and the United States. Altogether, Brazil's farm exports made up almost half of the country's total exports, showing the importance of the food industry for foreign trade.
The food industry also created jobs. In 2023, it added 70,000 new positions. The wider industrial sector created 241,800 jobs in total. More people found work, and average wages in industry rose slightly.
These changes followed a period of recovery after the pandemic, as more people returned to work and spent more money. Companies invested heavily to keep up with demand and improve their factories.
Brazil's Food Industry Drives Innovation
The food industry spent R$35.9 billion ($6.5 billion) on new equipment and research in 2023. Across all industries, spending on research and development reached R$38.3 billion ($6.9 billion).
However, fewer large companies launched new products or processes last year, as many focused on steady growth rather than big changes. Not all industries grew at the same pace.
While mining and oil extraction did well, some manufacturing areas shrank by 1% in 2023. The industrial sector is still 16.3% smaller than it was in 2011, so there is room for further recovery.
Brazil's food industry stands out for its steady growth, job creation, and strong exports. It plays a key role in the country's economy and helps Brazi stay competitive in global trade. These facts come from official sources and reflect the real situation in Brazil's industry.
Food factories processed over 60% of Brazil's farm output and earned R$1.161 trillion ($209 billion) last year. This growth helped Brazil's entire industrial sector reach R$4.9 trillion ($883 billion) in sales.
Food exports played a big role in this success. In 2023, Brazil sold US$62 billion worth of food and drinks to other countries, with beef and chicken as top products.
Major buyers included China, the European Union , and the United States. Altogether, Brazil's farm exports made up almost half of the country's total exports, showing the importance of the food industry for foreign trade.
The food industry also created jobs. In 2023, it added 70,000 new positions. The wider industrial sector created 241,800 jobs in total. More people found work, and average wages in industry rose slightly.
These changes followed a period of recovery after the pandemic, as more people returned to work and spent more money. Companies invested heavily to keep up with demand and improve their factories.
Brazil's Food Industry Drives Innovation
The food industry spent R$35.9 billion ($6.5 billion) on new equipment and research in 2023. Across all industries, spending on research and development reached R$38.3 billion ($6.9 billion).
However, fewer large companies launched new products or processes last year, as many focused on steady growth rather than big changes. Not all industries grew at the same pace.
While mining and oil extraction did well, some manufacturing areas shrank by 1% in 2023. The industrial sector is still 16.3% smaller than it was in 2011, so there is room for further recovery.
Brazil's food industry stands out for its steady growth, job creation, and strong exports. It plays a key role in the country's economy and helps Brazi stay competitive in global trade. These facts come from official sources and reflect the real situation in Brazil's industry.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Most popular stories
Market Research
More Story
Comments
No comment