The executive secretary at Brazil’s Ministry of Development, Ivan Ramalho, declared that total bilateral Brazil-China trade could reach US$ 10 billion this year.
Ramalho made the revelation while speaking to an audience of financial executives in Rio de Janeiro. He said that would be possible with strong sales by Brazil of soy and iron ore.
China has become Brazil’s third biggest trade partner, now purchasing 5% of all Brazilian exports, which total led US$ 2.709 in the first half.
In first place is the US, with 20% of Brazilian exports, totalling US$ 10.872 billion in the first half. Next comes Argentina with 8.5% of Brazilian exports, totalling US$ 4.549 billion in the first half.
However, Ramalho explains that while Brazilian exports to the US and Argentina rose significantly, compared to last year (23.4% and 38.6%, respectively), Brazilian exports to China have fallen 6.6% in the first half of this year, compared to the same period last year.
Most Brazilian exports to China are basic products (65%). Manufactured and semi-manufactured goods account for the remaining 35%.
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