Sao Paulo, Brazil, 02 June – China posted a balance of trade surplus of US$90 million in relation to Brazil in the first four months of this year, after a deficit of US$191.6 million posted in the same period of 2005, officials said Friday.
Between January and April of last year, China had a trade deficit with Brazil of US$191.62 million, Brazil’s Ministry of Development, Industry and Commerce said.
As well as managing to change the balance of trade in its favor, China also overtook Argentina to become the second-largest exporter to Brazil, after the United States.
Brazilian imports from China increased 55.7 percent to US$2.24 million in the first four months of the year, against the same period of last year.
In the same period, Brazilian exports to China increased 32.14 percent to US$2.15 million, according to Brazilian government figures.
Sector specialists have said that the rise in imports is the result of increased industrial activity and the rising value of Brazil’s currency, which has made it cheaper to import certain goods than produce them in Brazil.
Last year, trade between Brazil and China increased 33 percent to US$12.18 billion, against 2004, with Brazil posting a surplus of US$1.48 billion. (macauhub)