China’s share of Brazilian exports down this year
China’s share of Brazilian exports fell from January to November this year, while imports from the Asian country had a greater weight in the trade balance. The data were presented Tuesday (Dec. 17) by the Getulio Vargas Foundation and show that China continues to be Brazil’s top trading partner.
From January to November, 28.6 percent of Brazilian exports went to China, down from 30.7 percent in 2023. On the other hand, the Chinese share of Brazilian imports increased from 21.9 to 24.1 percent.
The change was also said to stem from an increase in exports to the US and the European Union, and a drop in imports from these partners. Argentina, despite the economic crisis, imported more Brazilian products and exported more to Brazil, mainly thanks to the automotive sector.
The total trade balance up to November was $69.9 billion. The foundation estimates that this year Brazil should have a surplus of $74 billion to $ 78 billion in international trade.
Taking into account trade with China alone, Brazil has a surplus of $31 billion—44.3 percent of the accumulated balance of trade up to November.
