Brazil: China consolidates 2nd place in list of Brazil’s trading partners

28 August 2008

Sao Paulo, Brazil, 28 Aug – China has consolidated its second place position, increasing its lead over Argentina in the list of Brazil’s main trade partners, according to figures from the Secretariat for Foreign Trade of the Brazilian Ministry for Development, cited in newspaper Valor Económico.

In the 12 months ended in July, bilateral trade between China and Brazil totalled US$31.9 billion, which is higher than the trade of US$29.3 billion with Argentina in the same period. China is behind only the United States, which posted trade with Brazil of US$49.2 billion.

In the last 12 months, Brazil imported goods worth US$17 billion from China and US$12 billion from Argentina.

After posting considerable trade surpluses with China in the past, Brazil now posts deficits, and the deficit in the last 12 months totalled US$2.6 billion.

In the period, Brazil posted a trade surplus of almost US$5 billion with Argentina. (macauhub)