Trade between Brazil and China continues to break records. From January to September, trade between the two countries surpassed the record set in 2020 for the full year; the trade flow (exports plus imports) in excess of US$ 100 billion was registered for the first 9 months, and the YTD trade flow for 2021 is forecast at US$ 105.628 billion.
Bilateral trade continues on the rise and Brazil faces a major challenge: to increase the share of industrialized products in the export basket to China, which is still heavily concentrated in basic products with low added value.
From January-September, trade with China provided Brazil with a record trade surplus (exports minus imports) of US$ 37.608 billion, higher than the US$ 37.010 billion surplus registered in the 12 months of 2020. China’s participation in Brazil’s YTD trade balance was approximately 65% at the end of September. The data are from SECEX (the foreign trade secretariat of the Ministry of Finance).
Sino-Brazilian trade numbers are strong and follow a strong upward trajectory. In 2020, Brazilian exports to its main trading partner increased by 7.0% compared to the previous year and totaled US$ 67.788 billion. This year, growth was much more robust, with an increase of 34.1%, taking exports to the level of US$ 71.618 billion.
As a result, China’s share participation in total Brazilian foreign sales increased from 32.4% in 2020 to 34.1% from January to September this year. In other words: more than a third of the entire volume exported by Brazilian companies was shipped to China.
Source: Comex do Brasil
