Exports to China help swell Brazilian trade surplus in 2020

Official data indicate that the value of the surplus in Brazilian trade with the rest of the world rose to US$50.99 billion last year, 7 percent more than the year before.

The Brazilian Ministry of the Economy published on Monday figures showing the Brazilian surplus in trade with mainland China, Hong Kong and Macao grew by 3.8 percent to US$35.44 billion, accounting for more than two-thirds of Brazil’s overall surplus.

The figures show that Brazilian exports to mainland China, Hong Kong and Macao grew by 7.3 percent to US$70.08 billion, while Brazilian imports fell by 2.7 percent to US$34.64 billion.

The foreign trade secretary at the Economy Ministry, Lucas Ferraz, commented that the pace of the economic recovery in Asia had a strong bearing on the resilience of Brazilian exports.

The ministry forecasts that the Brazilian trade surplus will grow this year by 3.9 percent to US$53 billion.