Agriculture as an economic power thanks to foreign trade

The agricultural sector has evolved over time, at the beginning it started as a purely artisan activity. However, nowadays it is managed through an industrialized concept , this is due to the fact that companies have observed the opportunity of projection within the sector through foreign trade.

The best thing that foreign trade has brought to the agricultural industry is the opportunity to export and import fresh and quality products from different regions of the world; turning the product into something more than exclusive, rich in culture.

Currently, the United States is one of the biggest importers of products such as: fresh strawberries with an FOB value of US $ 207,642,176 (share of 7.7% of the market), avocados with FOB value of US $ 153,000,848 (5.67% share), bananas with FOB value US $ 151,530752 (5.62% stake) from countries such as Mexico, Chile and Peru.

Emerging markets

The growth of the industry has also had its results in the agricultural sector since in 2018 it was one of those that boosted the Gross Domestic Product (GDP) in Colombia and managed to increase exports by 7.2% in the country. In the same way, the United States, generates a total value of US $ 1,478,772.5 of Honduran imports, which represents a 25.12% share.

In general terms, Latin America and the Caribbean is a region sensitive to changes in international markets but its great growth is due to the boom that Mexico has had in terms of foreign trade, for example, comparing other imports that Honduras can make, it has the 33.89% share with a total value of US $ 1,995,220.13.

Where is agriculture heading to

This industry promises large numbers in the Latin American area in a short and medium term. Countries such as Chile, Colombia, Guyana, Peru and the Dominican Republic show sustained growth in real agricultural production and income issues; while Brazil, Argentina, Bolivia, Paraguay and Uruguay have also obtained an increase in production they have focused on cereals and oilseeds. In addition, this activity has managed to increase agricultural value added up to 10% in places such as Mexico, Haiti and Costa Rica.

Without a doubt, this sector will have great progress this year as well as a rewarding future projection. However, what do you expect to be part of this growth? Your company can make a difference in the market, you just have to have the right information in your hands.

See how your sector is nowadays through our report!

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