New historic record for trade between Brazil and China in 2021

 

Trade between Brazil and China reached USD 135 billion in 2021, the fourth consecutive year of record in goods and services flows between the two countries.

Last year, Brazilian companies sold USD 87.9 billion in products to China, an increase of 29% compared to 2020. Imports by Brazil reached USD 47.6 billion, 37% more than the previous year.

According to data from the Brazilian Ministry of Economy, trade between the two countries has increased by more than 130% since 2016, keeping China as Brazil’s largest trading partner, ahead of the United States.

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Brazil-China Business Council (CEBC) research director, Tulio Cariello, underlined to the local press that among the ten products most exported by Brazil to China, only one grew in terms of volume in 2021: pork.

“In other products there was a fall. Sugars, had 10% less exports to China, iron ore fell 2%, crude oil fell 22%, beef fell 17%. Despite this drop in volume [exported], only three [of the main export products] fell in terms of value. In other words, there was growth in terms of value received, of financial returns, due to the increase in international prices of some commodities”, Cariello added.

Sales from Brazil to China are concentrated in agribusiness and the extractive industry. Because of the price rises last year, Cariello sees difficulties for exports to repeat similar growth from 2022.

 

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