“Shock” to Brazilian Exports Prevented by Sales to China

 

The rapid economic recovery of several Asian countries, especially China, prevented the new coronavirus pandemic from causing a “shock” to Brazilian exports, said Brazilian Economy Minister Paulo Guedes.

 

Due to Asian buys, and most of all China´s, Brazilian exports closed the first half almost stable compared to the same period in 2019, the minister said during a meeting promoted by the Parliamentary Agriculture Front on Monday. This compensated for a fall in exports to the U.S., Argentina and the European Union countries.

 

From January to June, Brazil sold USD 102.43 billion abroad, 6.4% less than in the same period in 2019, according to the latest figures from the Ministry of Economy. Exports totalled USD 125.74 billion up to the first week of August.

 

The country recorded a trade surplus of USD 32.08 billion until the first week of August, 16.3% higher than in the same period last year, with imports dropping 11.5%.

 

Brazil´s Secretary of Commerce and International Relations of the Ministry of Agriculture, Ambassador Orlando Leite Ribeiro recently stated that 40% of Brazilian agricultural exports went to China in the first half of 2020.

 

Photo: Brazilian Economy Minister Paulo Guedes

Other articles

Brazil

Huawei´s Fortunes in Brazil 5G Auction Influenced by U.S. Election

Brazil

China Offers Brazil “New Highland” of Scientific and Innovation Cooperation, Including 5G