China buys 1/4 of Brazil’s exports in first half

26 July 2017

China was the destination of a quarter of Brazilian exports in the first half of 2017, for the first time, with purchases of US$26.952 billion, compared to total exports of US$107.710 million, according to official figures.

The United States came in second with US$12.917 billion, followed by Argentina (US$8.300 billion), the Netherlands (US$4.688 billion) and Chile (US$2.482 billion) in the top five.

The figures released by the Ministry of Industry, Foreign Trade and Services showed that ten years ago, in 2007, the Chinese bought just 6.7% of Brazil’s exports, with the United States in first place with a share of 16.4%.

In the first six months of the year, China sold US$19.769 billion worth of products to Brazil, taking on a trade deficit with the country of US$7.183 billion.

Chinese purchases of Brazilian products in the first half, which increased 36.3% year-on-year, focused on three products – soybeans, iron ore and oil – and in the first five months of the year China imported 45% of all the soybeans it bought from Brazil 45% of soybeans it bought and 21% of iron ore. (macauhub)