Brazil’s balance of trade surplus with China increases with soybean sales

11 May 2016

Brazil accumulated a surplus of US$3.892 billion in trade with China from January to April, mainly driven by soybean sales, which grew by 47.53 percent year on year, according to official data.

In the first four months of the year Brazil’s exports to China reached US$11.268 billion and from China to Brazil, which recorded an annual decline of 39.30 percent, totalled US$7.376 billion.

The figures from the Ministry of Development, Industry and Foreign Trade showed that, if the trend continues, this year Brazil will register ta record trade surplus with China.

The highest annual balance of trade balance to date was recorded in 2011 when Brazil recorded US$1.268 billion.

Increased trade is based on soybeans, with Brazilian producers selling over 16 million tons to China this year, providing revenue of US$5.779 billion, compared with 10 million tons and revenues of US$3.917 billion in the same period of 2015.

China’s sales of iron ore and oil recorded downturns of 19.59 percent and revenue of US$1.480 billion (US$1.840 billion from January to April 2015) in iron ore sales and 26.44 percent and US$979 million (US$1.330 billion) in oil.

The reductions in iron ore and oil were partially offset by an increase in sales of chicken meat (US$256 million) and beef (US$214 million), which appears in export figures with significant values for the first time. (macauhub/BR/CN)