In the first half of 2022, Brazil exported 36% less oil to China than in the same period last year. Likewise exports to India fell 53.8%. It is expected that the Brazilian exports tends to remain lower.
From January to June this year, Brazil exported about 1.2 million tons of oil to India, but in the same period of last year, the volume was 2.6 million tons. About 12.5 million tons of oil were exported to China in the first half of this year, while in 2021, around 19.56 million tons were shipped in the same period.
In dollars, oil exports to India fell from about US$1.09 billion to US$589 million (down 46%). Regarding China, exports went from US$8.06 billion last year to US$7.9 billion in 2022 (-2%).