Agribusiness

The cushion is back — and industry is no longer under it

In 2025 Brazil exported a record US$348.7 billion, with record volumes of iron ore, soybeans and oil all at once. In the same country, manufacturing accounts for less than 11% of GDP. An LSE thesis explained how the wealth of the soil financed Brazil's factories. This investigation asks what happened to the plumbing between the two.