Exports to China earn Brazil a record-breaking trade surplus

6 January 2022

Official data show that annual growth of 28 per cent in exports to China, its main trading partner, helped give Brazil a trade surplus of US$61 billion last year, its biggest yet.

Brazil exported goods worthUS$89.75 billion to mainland China, Hong Kong and Macao last year, and imported US$48.34 billion worth, 36.7 per cent more than the year before, according to figures given by the Brazilian Economy Ministry on Monday.

Brazil therefore had a surplus of US$41.41 billion in its trade with China, its only surplus with an important trading partner, the data indicate.

Exports to the European Union, the second-biggest market for Brazilian goods, were worth US$36.53 billion, the government figures show.

Separately, the Brazilian state-run news agency, Agência Brasil, reports that the value of Brazilian exports of beef to China increased last year, in spite of a three-month-long Chinese embargo on imports of Brazilian beef, imposed after two cases of atypical mad cow disease were detected in Brazil.

(Source) Permanent Secretariat to the Forum for Economic and Trade Co-operation between China and Portuguese-speaking Countries (Macao):