Brazil-China trade advances towards US$ 140 billion level

Bilateral trade between Brazil and China continues to break historic records. This year, for the first time since the beginning of the historical series, in 1997, trade between the two countries will approach the record level of US$ 140 billion, and Brazilian exports to a single country will be close to $100 billion – also a new record.

Between January and October, trade with the Chinese has already set another new record: for the first time in history, the balance in favor of Brazil surpassed the figure of US$ 40 billion.

According to data released on November 3rd by SECEX (the foreign trade secretariat of the Ministry of Economy), from January to October, exports to China totaled US$ 79.219 billion and were responsible for 33.6% of all sales carried out by Brazilian companies in the period.

See below the cargo movement between Brazil and China based on DataLiner data:

Brazilian Imports and Exports with origin and destination in China | Jan 2017 to Sep 2021 | WTMT

Source: DataLiner (To request a DataLiner demo click here)

The figures are much greater than those from trade with the United States (Brazil’s second-largest trading partner), showing a difference of US$ 25.269 billion (corresponding to a share of 10.7% of Brazil’s exports) and Argentina, the third main destination for Brazilian exports, with sales totaling US$ 9.87 billion.

Chinese predominance is also at the other end of foreign trade, the imports. In the first ten months of this year, China was responsible for 22% of the total volume imported by Brazil, amounting to US$ 38.965 billion, an increase of 36.8% over the same period in 2020, based on the daily average. There was also an increase in purchases from the United States (33.1%), Argentina (45.4%), and the European Union (27.5%).

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