China-Brazil Trade has grown by nearly 10% in the first ten months of 2024, reflecting the strong economic partnership between the two nations. Trade between the countries reached 1.14 trillion yuan ($157.62 billion), surpassing China’s overall trade growth by 4.7 percentage points, according to Chinese Customs. This year also marks the 50th anniversary of diplomatic relations between China and Brazil, highlighting decades of mutual economic progress.
China imported goods worth 708.15 billion yuan from Brazil during this period, including soybeans, iron ore, pulp, and crude oil. These commodities make up over 70% of Brazil’s exports to China. Meanwhile, China exported 432.08 billion yuan worth of goods to Brazil, with industrial products such as auto parts, textiles, and electrical equipment contributing significantly. Auto parts exports rose by 26.5%, and electrical equipment grew by 31.2%.
Brazil is China’s largest trading partner in Latin America and the first in the region to exceed $100 billion in export value to China. Analysts note that this growing trade relationship benefits both countries, supporting modernization and industrial development. For instance, Brazilian mining company Vale recently announced surpassing 3 billion tons of cumulative iron ore exports to China, a major milestone in their partnership.
The expanding trade has also introduced a wider range of Brazilian goods to the Chinese market, while Chinese products continue to aid Brazil’s re-industrialization. As both nations strengthen their ties, the growth in China-Brazil Trade underscores their commitment to shared economic prosperity.
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