China becomes Brazil’s biggest trading partner

8 September 2009

Beijing, China, 8 Sept – China has become the biggest market for Brazilian products in the first half of 2009, whilst bilateral trade fell 23.4 percent due to the global economic crisis, according to English-language newspaper China Daily.

In April China overtook the United States to become Brazil’s biggest trade partner and, meanwhile, álso became the main destination for its exports, mainly iron, oil, grains and pulp for papermaking.

The value of China-Brazil trade in the first half of 2009 was, however, “affected by the international financial crisis,” the paper said, and totalled just US$16.52 billion, or 23.4 percent less than in the same period of last year.

According to Chinese statistics, in 2008 bilateral trade totalled US$48.5 billion, which was more than double the amount of just two years earlier, with a trade surplus in Brazil’s favour of US$11 billion.

The European Union, Japan and the United States – the biggest destinations for Chinese exports – all have a trade deficit with China. (macauhub)