Brazil: Brazilian trade with China posts deficit between January and May

4 June 2008

Sao Paulo, Brazil, 4 June – Brazilian exports to China in the first five months of the year rose 52 percent year on year but imports rose 72 percent with Brazil posting a trade deficit with China of US$1.45 billion, according to official figures.

The secretary for foreign trade, Welber Barral, said he hoped to see an improvement in that result over the year, adding that “we hope to diversify and increase exports to China, which will tend to reduce the deficit.”

China now buys 7.9 percent of Brazil’s exports as compared to 6.4 percent in 2007 and sells 10.3 percent of imports to Brazil, against 9.8 percent in the first five months of 2007.

In May, Brazil exported goods worth US$19.306 billion and imported goods worth US$15.922 billion, posting a surplus of US$4.077 billion overall.

From January to May, exports totalled US$72.054 billion and imports US$63.399 billion, generating a surplus of US$8.655 billion. (macauhub)