Brasília, 8/13/2003 (Agência Brasil - ABr) - Agrobusiness sector GDP growth this year, from January to May, was 5.3%, compared to 2.1% during the same period last year, reports the National Agricultural Confederation. Based on that growth, the CNA is projecting that by year end sector revenue will reach R$446.7 billion, compared to R$424.3 billion at the end of 2002.

The strong showing has been boosted mainly by soybean sales which have risen 54.8% in revenue and now account for 50% of the growth in farm sector exports.

For the first seven months of this year (January to July), the sector trade surplus reached a record US$13.5 billion, up slightly more than 40%, compared to the same period last year.

According to the head of the Foreign Trade department at CNA, Antonio Donizete Beraldo, it is possible that this year Brazil will become the world's biggest exporter not only of soybeans, but beef as well. And the head of the CNA Economic Department, Getulio Pernambuco, says the reasons for the strong performance are increased competitivity and good prices. (AB)