China-Bound Brazilian Exports Soar 69 Percent to Nearly USD12 Billion
Yicai Global
/SOURCE : Yicai
China-Bound Brazilian Exports Soar 69 Percent to Nearly USD12 Billion

(Yicai Global) April 7 -- China is still one of the major export destinations for Brazilian goods.

More than 23 percent of Brazil's exports went to China in the first quarter of this year. They were valued at USD11.8 billion, a 69 percent year-on-year increase.

Commodities such as iron ore, oil, and soybeans accounted for more than 70 percent of them, China News Service reported, citing data released by the Brazilian Ministry of Industry, Foreign Trade and Services (MDIC).

Chinese goods made up more than 17 percent of Brazil's total imports in the first quarter. They were worth USD6.3 billion, up 5.2 percent year-on-year, and were mainly industrial products. Brazil's trade surplus with China reached USD5.5 billion during the same period.

Trade between the two countries was valued at over USD18 million in the first quarter, marking a 28.4 percent rise.

China was the largest Brazilian meat product consumer market last year, importing USD1.8 billion of meat from Brazil.

Brazilian Minister of Agriculture Blairo Maggi recently announced that he will visit key Brazilian meat export destinations. Maggi's trips will reduce the impact of a rotten meat scandal that gained media attention last month, and China's imports of Brazilian meat products and other agricultural products will increase significantly, further promoting the development of Brazil's agriculture and animal husbandry, some experts said.

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Keywords: China , Brazil , Trade , Business , Data