Brazil-China trade continues to break records and the Asian country accounts for 65% of the Brazilian trade surplus

Trade between Brazil and China continues to break records. From January to September, trade between the two countries surpassed the record set in 2020 for the full year; the trade flow (exports plus imports) in excess of US$ 100 billion was registered for the first 9 months, and the YTD trade flow for 2021 is forecast at US$ 105.628 billion.

Bilateral trade continues on the rise and Brazil faces a major challenge: to increase the share of industrialized products in the export basket to China, which is still heavily concentrated in basic products with low added value.

From January-September, trade with China provided Brazil with a record trade surplus (exports minus imports) of US$ 37.608 billion, higher than the US$ 37.010 billion surplus registered in the 12 months of 2020. China’s participation in Brazil’s YTD trade balance was approximately 65% ​​at the end of September. The data are from SECEX (the foreign trade secretariat of the Ministry of Finance).

Sino-Brazilian trade numbers are strong and follow a strong upward trajectory. In 2020, Brazilian exports to its main trading partner increased by 7.0% compared to the previous year and totaled US$ 67.788 billion. This year, growth was much more robust, with an increase of 34.1%, taking exports to the level of US$ 71.618 billion.

As a result, China’s share participation in total Brazilian foreign sales increased from 32.4% in 2020 to 34.1% from January to September this year. In other words: more than a third of the entire volume exported by Brazilian companies was shipped to China.

Source: Comex do Brasil

To read the full original article, visit the link:

https://www.comexdobrasil.com/comercio-brasil-china-segue-batendo-recordes-e-pais-asiatico-responde-por-65-do-superavit-brasileiro/

Sharing is caring!