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Brazilian agribusiness exports to hit 100 bln USD
Last Updated: 2018-10-11 13:18 | Xinhua
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Brazil's agribusiness exports are expected to reach a record 100 billion U.S. dollars in 2018, the minister of Agriculture, Cattle-ranching and Supply, Blairo Maggi, said on Wednesday.

"It's a figure we have been striving for and now we are going to attain it," Maggi said at a ceremony to install the new president of the Brazilian Agricultural Research Company (Embrapa), Sebastiao Barbosa.

Brazil saw its highest level of agricultural goods exports in 2013, when the sector generated 99.97 billion U.S. dollars.

President Michel Temer stressed the importance of the sector to Brazil's economy, saying it contributed "in large part" to the recovery of the nation's gross domestic product.

Following a severe recession in 2015 and 2016, which saw GDP plummet nearly 9 percent, Brazil registered 1 percent growth in 2017.

Agribusiness accounts for nearly a fourth of Brazil's GDP, and almost 50 percent of its exports.

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