Brazil Reports Decline in Exports to China

According to the CEBC Alert report conducted by the Brazil-China Business Council, Brazil’s exports to China experienced a significant decline in 2024, driven by a 19% drop in soybean export revenue. This decrease resulted from reductions in both the volume shipped (-2.6%) and the product’s price (-20%), which remains one of the main items exported to the Chinese market. Soybean’s share in Brazil’s export portfolio to China fell by 3.9 percentage points, ending the year at 33% of total exports.

Despite this decline, China remained the primary destination for Brazilian soybean exports, absorbing 73% of the total exported in 2024. However, the outlook was more positive for other products. Crude oil, for instance, stood out as Brazil’s top export globally, accounting for 13% of total exports. Revenue from crude oil exports increased by 5.2%, and China remained the largest buyer, receiving 45% of the total exported. The value of oil exports to China saw a slight 1% increase compared to the previous year.

The chart below reveals the pattern of container exports from Brazil to China between January 2021 and November 2024. The data comes from Datamar’s DataLiner.

Container Exports to China | Jan 2021 – Nov 2024 | TEUS

Source: DataLiner (click here to request a demo)

Other countries also played significant roles in Brazil’s oil exports. The United States ranked second, accounting for 13%, followed by Spain with 11%. Thus, China continues to be Brazil’s leading export trade partner, particularly in the oil sector, underscoring its strategic importance in Brazil’s international trade.

Source: Agro Link

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