Brazil’s exports to China keep growing

Brazil's exports to China keep growing

On June 17, local time, Brazilian Minister of Economy Geddes said at a local economic forum that during the new crown pneumonia epidemic, Brazil’s exports to many countries have declined, but exports to China have shown an upward trend. The Brazilian economy has a key impact.

Guedes pointed out that due to the impact of the epidemic, Brazil’s exports to Europe have fallen by 20% to 30%, the United States has fallen by 30%, and its partner countries in Latin America have fallen by 40%. But at the same time, Brazil’s exports to Asia have risen by 40%, of which exports to China account for the main part. “This allows us to maintain our vital signs,” Guedes said.

According to Guedes, there is a phenomenon of overproduction of food in Brazil, and at the same time, food is wasted in all links of production and distribution. Therefore, he believes that it is necessary to build more railways, ports, and strengthen regulatory measures so that Brazil has a complete infrastructure and transportation capacity to export excess food products to farther countries.

According to data released by the Vagas Foundation, a well-known Brazilian think tank, on Tuesday (15th), from January to May this year, Brazil’s foreign export trade surplus reached 27.1 billion US dollars, the highest level since 1997. Among them, China’s export surplus was 19.1 billion U.S. dollars, accounting for 70.4% of the total during this period.