Trade between China and Brazil has a history of surplus but trade with other Asian countries grow much more

The trade balance between the two countries has a history of surplus, especially in the last 7 years. The record was set in 2021 when Brazilian exports exceeded imports from China by US$ 43.4 billion – considering inflation-adjusted values.

That year, sales to the Asian giant reached US$94.9 billion, the best result in the entire historical series, which began in 1997.

In 2022, exports to the Asian giant exceeded imports by US$28.7 billion.

The last deficit was recorded in 2008, still in Lula’s second presidential term: US$ 3.5 billion.

From 2012 to 2015, the best results were obtained in trade with the Netherlands. During this period, the balance with the Chinese was also positive for Brazil.

SOYBEANS LEAD SALES TO CHINA

The highest value in Brazilian exports to China corresponds to soybeans. In 2022, the volume negotiated was US$31.8 billion, representing 36% of everything sold to the Asian country.

Iron ore comes in second, with US$18.2 billion, while crude oil comes in third (US$16.5 billion).

Beef also occupies a relevant space: it brought US$8 billion to Brazil last year. On Thursday (23), China announced the resumption of product imports.

The export of Brazilian beef to the Asian country had been suspended since February 22.

The decision was taken by Lula’s government after the confirmation of a case of “mad cow disease” registered in the state of Pará – later confirmed to be atypical.

On the other hand, valves, and pipes are the products most imported by Brazil, totaling US$7 billion.

OTHER ASIAN COUNTRIES GROW, AND CHINA FALLS IN THE BALANCE WITH BRAZIL

Brazil’s trade balance with South and Southeast Asian countries has grown 129% since 2019, the last year before the covid-19 pandemic.

The list brings in Bangladesh, India, Indonesia, and Malaysia, emerging economies in the region.

That year, the trade balance with the 4 countries gave a surplus of $1.4 billion. In 2020, the positive balance was US$ 3.6 billion – an increase of 157%.

The increase occurred while there was an 8% drop in the trade balance with China, Brazil’s largest economic partner, in the last four years.