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AGRICULTURE

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Agrifood trade in LAC

USD 239 000 000 000

Agrifood products exported by LAC in 2017

USD 91 000 000 000

Agrifood products imported by LAC in 2017

2.6

Balance of trade (dollars exported per every imported dollar in 2017)

8.2 %

Annual growth in agrifood exports in 2017

24.1 %

Contribution of agrifood exports to total goods exported by LAC in 2017

13.6 %

Contribution of LAC to global agrifood exports in 2017

LAC plays a key role in the global market for agrifood products.

USD 10.5

are exported for every dollar imported in Argentina (agrifood balance of trade).

USD 0.03

are exported for every dollar imported in Antigua and Barbuda.

The growing Asian demand for agrifood products has boosted sales in LAC.

24.3 %

of LAC agrifood exports (2015-2017) were placed in the North American market (United States and Canada), the main destination for LAC exports.

23.1 %

of exports were sent to Asian markets (except China), while 13% went to China.

14.4 %

of LAC agrifood exports were sold to LAC markets.

65 %

of LAC agrifood exports originate in the Southern Region. Over the 2015-2017 period, the region exported USD 128.8 billion worth of agrifood products, the main destination of which was Asia.

What are the main agrifood products exported by LAC?

Soja (HS 120100)

Contribution to LAC agrifood exports: 10.8%

Largest exporting country in the world: Brazil

LAC country with the highest contribution to world exports: Brazil (1)

Soybean oilcakes (HS 230400)

Contribution to LAC agrifood exports: 7.1%

Largest exporting country in the world: Argentina

LAC country with the highest contribution to world exports: Argentina (1)

Coffee (HS 090111)

Contribution to LAC agrifood exports: 5.4%

Largest exporting country in the world: Brazil

LAC country with the highest contribution to world exports: Brazil (1)

Corn (HS 100590)

Contribution to LAC agrifood exports: 4.3%

Largest exporting country in the world: United States

LAC country with the highest contribution to world exports: Brazil (2)

Sugar cane (HS 170111)

Contribution to LAC agrifood exports: 3.5%

Largest exporting country in the world: Brazil

LAC country with the highest contribution to world exports: Brazil (1)

Frozen, bovine, boneless meat (HS 020230)

Contribution to LAC agrifood exports: 3.2%

Largest exporting country in the world: Brazil

LAC country with the highest contribution to world exports: Brazil (1)

Soybean oil (HS 150710)

Contribution to LAC agrifood exports: 2.7%

Largest exporting country in the world: Argentina

LAC country with the highest contribution to world exports: Argentina (1)

Bananas (HS 080300)

Contribution to LAC agrifood exports: 2.6%

Largest exporting country in the world: Ecuador

LAC country with the highest contribution to world exports: Ecuador (1)

Prawn and shrimp, including in shell, frozen (HS 030613)

Contribution to LAC agrifood exports: 2.4%

Largest exporting country in the world: India

LAC country with the highest contribution to world exports: Ecuador (2)

Chicken Cuts and Edible Offal, Frozen (HS 020714)

Contribution to LAC agrifood exports: 2.3%

Largest exporting country in the world: Brazil

LAC country with the highest contribution to world exports: Brazil (1)

References

WTO (World Trade Organization, Switzerland). 2019. Statistics database (on line). Geneva, Switzerland. Consulted August 2019. Available at: http://stat.wto.org/StatisticalProgram/WSDBStatProgramHome.aspx?Language=E

United Nations Statistics Division. 2019. Commodity Trade Statistics Database (COMTRADE) (on line). Consulted July 2019. Available at: https://comtrade.un.org/