Between January and July, Brazilian exports to China surged by 6.9%, driven by shipment quantities, amounting to $58.7 billion. Prospects for the second half of the year vary depending on commodities destined for the Chinese market. The outlook is more favorable for food commodities such as corn, poultry, pork, and cellulose. Exports of commodities like iron ore and oil might encounter challenges. However, the Mdic’s Foreign Trade Secretary estimates that Brazilian iron ore exports will remain robust in terms of quantity due to its quality (iron content) relative to competitors. Given this landscape, the Brazilian government foresees the possibility of closing the year with $90 billion worth of exports to China, constituting 27% of total exports amounting to $330 billion ($335 billion in 2022).
Sources: Valor Econômico/Datamar News