Brazilian shipments to China,totaled US$ 8.5 billion last month, equivalent to 28.8% of the total exported by Brazil. This means that China is still the leading destination for Brazilian products, but in May 2021, the number had been higher – US$ 9.2 billion, or 35.3% of the total sold. According to the undersecretary of Intelligence and Foreign Trade Statistics, Herlon Brandão, the 11.9% drop in average daily exports to China reflects both problems on the Brazilian supply side and the Chinese demand side. According to him, this is likely to be only punctual. “I believe this is coincidental and that China will continue to be a tremendous partner for Brazil, with rising relevance,” he said. On the other hand, exports to Europe totaled US$ 6 billion and gained relevance in foreign sales, growing to a share of 20.3% (compared to 17.4% in May 2021). The increase in sales to the continent was 26.4% on a daily average. “Exports to the European Union increased significantly, owing mostly to a surge in crude oil sales, which increased by 115%, and rising shipments of products such as soybean meal,” stated Brandão.
Sources: Trademap/Datamar News