Brazilian Exports to China Surge 53.7%

Brazilian exports to China expanded 53.7%, to USD 7,769 billion in January, while Chinese sales to Brazil grew 10.2% to USD 5,062 billion.

Total trade (export+import) totalled USD 12,831 billion (a 33 per cent increase) and exchanges provided Brazil with a surplus of USD 2,707 billion, according to data from the Secretariat of Foreign Trade (Secex), of the Ministry of Development, Industry, Trade and Services (MDIC) of Brazil.

In January, the Chinese share in the total of Brazilian exports fell to 28.8%, after closing 2023 at 30.7%. In turn, China has increased to 24.7% its share in Brazilian imports, against 22.1% recorded in 2023.

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Trade with China was impacted by sharp increases in crude oil exports, which grew 60.1% over January last year, totalling USD 2.8 billion and again leading exports to the Asian country, and by the surprising 229% jump in soybean shipments, with a revenue of USD 1,0049 billion.

Beef and cellulose were other highlights in exports to China. Animal protein shipments fell 12% to USD 426 million, while cellulose sales grew 22.4% to USD 342 million.

Bilateral trade was again marked in January by the historic concentration of Brazilian exports in commodities of low added value. Three of them, oil (33%), iron ore (24%) and soybeans (13%) accounted for 70% of the total volume sold to China.

 

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