Brazil: Brazilian imports from China rise 56.9 pct in 2008

5 January 2009

Brasilia, Brazil, 5 Jan – Brazilian imports of Chinese products rose 56.9 percent in 2008, as compared to 2007, and reached US$20 billion, according to figures from Brazil’s Development, Industry and Foreign Trade Ministry (MDIC), published in Brasilia.

According to the ministry, the export of Brazilian products to China also rose by almost the same proportion (50.8 percent) reaching US$16.4 billion.

The Brazilian balance of trade ended 2008 with a deficit of US$24.7 billion, which is the worst result since 2002.

Official figures show that Asia was the region which most increased its acquisition of Brazilian products.

As a result of increased trade relations with China exports to Asia rose 47.5 percent. Brazilian imports from Asia also rose 51.6 percent in 2008.

Despite exports to the United States having risen by just 7.9 percent in 2008 Brazil’s trade with the United States is still the most important for Brazil’s balance of trade account.

According to figures from the ministry, the biggest growth in exports was posted by basic goods (39.9 percent), such as soy beans, iron ore, crude oil and chicken meat. (macauhub)