Brazilian exports to China exceeded USD 100 billion in 2023 for the first time, while the trade surplus for Brazil reached a record USD 51.1 billion.
The value was equivalent to more than half of the total Brazilian trade surplus in 2023, which also reached a historic mark of USD 98.8 billion, according to official statistics from Brazil´s Secretariat of Foreign Trade (Secex/Mdic).
The surplus of China-Brazil trade last year far exceeded the balance of USD 28.68 billion in 2022. In 2024, China should remain Brazil’s major trading partner, experts point out.
The growth of the surplus with the Chinese resulted from increased exports to the Asian country, but also a fall in Brazilian imports.
Shipping to China grew 16.6% in 2023 compared to the previous year and totalled USD104.31 billion, according to data from Secex/Mdic.
The performance was well above the high of 1.7% of the total Brazilian foreign sales. With this, China’s share in the South American´s country´s exports increased from 26.8% in 2022 to 30.7% last year.