After reaching a record figure of US$ 150.172 billion in 2022, the trade flow (exports + imports) between Brazil and China saw a 9.3% drop in the first two months of 2023 compared to the same period last year, indicating the possibility of a slight slowdown in Brazil’s trade with its main trading partner in 2023. In January and February, data from the Foreign Trade Secretariat (Secex) of the Ministry of Industry, Commerce, and Services (MDIC) suggest a retraction of 4.9% in Brazilian exports, which totaled US$ 10.157 billion. The contraction was even more significant on the Chinese side: 14.1% to US$ 8.300 billion. With that, trade between the two countries totaled US$ 18.457 billion in the period, with a reduction of 9.3%. After reaching a share of more than 30% in 2020 and 2021, Brazilian exports to China declined to 26.8% last year, and in the first two months of this year, they dropped a little more to 23.4%.The decline in imports was less pronounced. The purchases of Chinese products, with a total cost of US$ 60.744 billion in 2022 and accounting for 22.3% of total Brazilian imports, fell to 21.7%.
Source: Datamar News