DESPITE RISING IMPORTS, BRAZIL’S TRADE BALANCE WITH CHINA REMAINS FAVORABLE

In the first half of 2024, Brazilian exports to China rose 3.9% to USD 51 billion and Chinese imports rose 14.5% to USD 29 billion. The Brazilian trade surplus was USD 22 billion. Hybrid and electric car import charges added 235% to vehicle imports since July. Cotton exports saw a significant jump of 1000%, while fuels, iron ore, and sugar also recorded increases. However, exports of seeds, grains, meat, offal, and iron decreased. Rodrigo Giraldelli, a Brazil-China trade expert, emphasized the pattern of ongoing and diverse expansion in bilateral economic relations.
Source: IstoÉ Dinheiro (*Translated by Ia Niani)