Trade between Brazil and China began the year marked by a significant increase of 53.7% in Brazilian exports, which totaled US$ 7.769 billion, accompanied by a 10.2% increase in Chinese sales to US$ 5.062 billion . The trade flow (export+import) totaled US$ 12.831 billion (an increase of 33%) and exchanges provided Brazil with a surplus of US$ 2.707 billion.

Data from the Foreign Trade Secretariat (Secex), of the Ministry of Development, Industry, Commerce and Services (MDIC), indicate that in January the Chinese share in total Brazilian exports fell to 28.8%, after having closed the year 2023 with a percentage of 30.7%. In turn, China increased its share of Brazilian imports to 24.7%, compared to 22.1% recorded in 2023.

According to the president of the Brazilian Foreign Trade Association (AEB), José Augusto de Castro, the trade numbers with China are positive, as are the general statistics on Brazilian foreign trade, “but they do not mark the trend of the year”.

Exchanges with the Chinese were impacted by strong increases in crude oil exports, which grew 60.1% over January last year, totaling US$ 2.8 billion and once again leading the export agenda for the Asian country, and by surprising 229% jump in soybean shipments, with revenue of US$ 1.0049 billion.

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

Exports and imports began the year on a strong rise and had a positive impact on the Sino-Brazilian trade flow, but bilateral exchanges were once again marked in January by the historic concentration of Brazilian exports in low-value-added commodities. Three of them, oil (33%), iron ore (24%) and soybeans (13%) accounted for 70% of all volume sold to China.

Among the few industrialized products exported to the Chinese market are the so-called “other products from the manufacturing industry”, with a total of US$74 million, which fell by 5.63% in January.

Source: Comex do Brasil