China-Brazil Trade: Deep Ties & Growing Risks Revealed in New Report
Sรฃo Paulo, Brazil – A newly released study from the China-Brazil Business โฃCouncil reveals the profound and increasingly complex economic relationship between the twoโข nations. While Brazil enjoys a significant trade surplus with China, the report highlights a critical โdependence that could pose risks to long-term economic stability.
The thorough analysis, conducted in partnership with BrazilS Growth, Industry, Trade and Services Ministry, demonstrates how bilateral commerceโค has exploded in the last two decades, growing nearly fivefold and impacting employment, wages, and social structures across Brazil.
Perhaps โคsurprisingly,โ the study found that Chinese imports โฃ supported 5.2 million jobs in Brazil in 2024 – more then double the number generatedโฃ by exports to china. This underscores theโ widespread impact of Chinese goods on Brazilian businesses and โcommunities, even as export-related jobs tend to offer higher salaries.
A Trade Imbalance -โข and a Warning
China currently accounts for 28% of Brazil’s exports and 24% of itsโ imports.โฃ Over the past โขdecade, trade with Beijing has generated aโฃ US$276 billion surplus for Brazil, representing 51% of the country’s total global trade surplus. This standsโ in stark contrast to trade with the United States and the European union, which resulted in a combined deficit of US$224 billion for Brazil.
However,โข the report’s authors caution against complacency. The substantial โsurplus is heavily concentrated in a limitedโ number of commodities โขand companies. In 2024, a staggering 80% of Brazilian exports to China consisted of just three products: soybeans, iron ore, and oil. โMoreover, fewer thanโค 3,000 companies are responsible forโ the vast majority of thesโ exports.
“It doesn’t matter โขif its soybeans orโ machines,” explains Tulio Cariello, Director ofโค Research at the China-Brazilโข Business council. “The problem is relying on โคtoo few products and too few markets.”โ
This concentration leaves Brazil vulnerable to fluctuations in global commodity prices and shifts in Chinese demand,โฃ emphasizing โคthe need for diversification in โขboth โฃits export base and its trading partners. The โขreportโ serves as a crucial call for strategic planning to ensure a more resilient โand balanced economic future for Brazil.
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