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Brazil's main trading partner, China absorbs 28% of Brazilian exports by November

Brazil's main trading partner, China absorbs 28% of Brazilian exports by November

Despite a 2.07% drop in exports, Brazil has a trade surplus of US $ 24.599 billion between January and November, compared with the same period of 2018. China was the final destination for 28% of the total volume exported by Brazilian companies, more than double the 13.1% shipped to the United States.
On the other hand, Chinese sales to Brazil grew 6.28% in this period and totaled US $ 27.997 billion, corresponding to 17% of total Brazilian imports. In the first eleven months of the year, the trade balance with China provided Brazil with a US $ 24.959 billion surplus.
According to data from the Foreign Trade Secretariat (Secex) of the Ministry of Economy, the strong increase of 59.8% in beef sales was the highlight of the year in trade with the Chinese, providing revenues of US $ 2,179. billion. Beef was the fifth main item in the Brazilian export list to the Asian country.
Secex data also show the strong concentration of lower value-added commodities in exports to China, with a percentage of 88.8% in January-November this year. They also show the insignificant share of manufactured goods in this trade, of only 1.18%.
In terms of revenue, basic products generated revenues of US $ 51.15 billion (down 2.5%), while semi-manufactured goods, up 5.2%, totaled US $ 5.4 billion and product shipments Manufactured goods totaled $ 1.07 billion, down 15.0% from the same period last year.
Soybeans continue to lead Brazilian exports to its main trading partner, despite falling 23.8%. This year, oilseed shipments accrue revenue of $ 19.59 billion. Other highlights for Chinese sales in the year to November were oil, totaling $ 13.6 billion (24% share and up 3.7%), iron ore, with revenue of $ 12 , 12 billion (up 21.3% and 21% stake) and pulp, with revenues of US $ 3.05 billion (down 2.6% and 5.3% share of total exports to Chinese).
Regarding imports, the status quo is maintained and bilateral trade remains unchanged and China continues to export to Brazil almost exclusively industrialized products, accounting for 98.2% of all shipped volume this year. Meanwhile, semi-manufactured goods, with revenues of US $ 106 million, accounted for 0.32% of export volume and basic items with a 1.41% share, generating revenues of US $ 481 million.
Comex from Brazil