Trade between Brazil and China reached US$135 billion in 2021, the fourth consecutive record-breaking year.
Brazilian companies sold US$87.9 billion in products to China, an increase of 29 per cent compared to 2020. Imports by Brazil reached US$47.6 billion, 37 per cent more than the previous year.
According to the Brazilian Ministry of Economy, trade between the two countries has increased by more than 130 per cent since 2016, maintaining China’s position as Brazil’s largest trading partner, ahead of the United States.
Brazil-China Business Council (CEBC) research director, Tulio Cariello, said that among the 10 products most exported by Brazil to China, only pork grew in terms of volume in 2021.
“There was a fall in other products,” said Cariello.
“Sugars experienced 10 per cent less exports to China, iron ore fell 2 per cent, crude oil fell 22 per cent and beef fell 17 per cent. Despite this drop in volume, only three [of the main export products] fell in terms of value. In other words, there was growth in terms of value received, of financial returns, due to the increase in international prices of some commodities.”
Sales from Brazil to China are concentrated in agribusiness. Cariello said he foresaw difficulties for exports to repeat similar growth in 2022 because of recent price rises, CLBrief reported.