Brazil may surpass estimates and break records in exports to China this year, says newspaper

The value exceeds the government's expectations and represents 30% of all trade Brazil carries out with the world

Translated by: Ana Paula Rocha

Brasil de Fato | São Paulo (SP) |
In April this year, a welcome ceremony was held by Chinese President Xi Jinping to President Lula. - Foto: Ricardo Stuckert/PR

In 2023, Brazilian exports to China may reach the historic value of US$ 100 billion, an unprecedented figure even when considering Brazil’s trade with other countries. The data was published by journalist Assis Moreira in the Brazilian newspaper Valor Econômico, and surprised even the federal government's own economic team, which estimated a ceiling of up to US$90 billion in Brazilian negotiations with China.

Last year, exports to the Asian country amounted to US$ 89,4 bi, 26% of Brazil's international trade in 2022.

If sales amount to almost US$ 100 million this year, 30% of all Brazilian trade will involve China. In 2014, this percentage was 18%.

Besides soy, iron ore and oil, the inclusion of corn in the country’s business portfolio boosted trade relations between the two countries.

No dollar

In October, the Bank of China Brazil announced an unprecedented achievement: the first full transaction between a Brazilian company and a Chinese company using only reais and yuans, avoiding the dollar exchange rate.

According to the Chinese financial institution, the transaction happened between August and September, and involved a pulp export business from the Brazilian company Eldorado Brasil, which is based in São Paulo and has representation in Shanghai.

Recently, another unprecedented move was taken in the rapprochement between China and Brazil. The Asian country sent many agricultural machines to Brazil.

Equipment such as micro-tractors, harvesters, seeders and planter machines will go to productive areas of family farming in the states of Ceará, Maranhão, Paraíba and Rio Grande do Norte.

There are around 30 machines that can be used in 20 types of plantations in areas that include settlements of the Landless Workers Movement and other family farming organizations such as the Rural Workers Union of Apodi (Rio Grande do Norte state).

Edited by: Rodrigo Durão Coelho