Brazil’s surplus with China surges under Bolsonaro’s administration

Brazil’s cumulative surplus with China since the start of Jair Bolsonaro’s administration (Jan.2019-Jul.2022) is US$127.7 billion.

It exceeds the amount added during the leftist governments of Luiz Inácio Lula da Silva and Dilma Rousseff and under centrist Michel Temer from 2003 to 2018: US$127.2 billion.

In 2021, the monthly average was US$3.5 billion. In 2022, it was US$3.2 billion. Applying the inflation correction for the dollar, the total of the previous governments is US$160.6 billion. The Bolsonaro government’s capacity through July was US$141 billion.

Total exports through July (US$194 billion) are already close to total exports for 2020 (US$209 billion). And the balance through July (US$40 billion) has already surpassed 2019 (US$35 billion).

The Bolsonaro government has the highest value in the average monthly balance among all countries. In corrected values, it is US$4.9 billion. Lula’s first term came closest: US$4.6 billion.

BRAZIL IN WORLD TRADE: 2%.

In Q1, Brazilian trade was 2% of world trade. The government expects it to remain at that level on average for the year.

It may seem low. But if it does, it would mean crossing a threshold: since the 1960s, it has been between 0.9% and 1.3%. The historical record was set in 1950 when it accounted for 2.2% of the world’s population.

According to Unctad (United Nations Trade and Development Agency), global trade in goods reached US$6.1 trillion in the first quarter of 2022.

This was a 25% increase over the same period in 2021.

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