Business

Pandemic makes Brazil even more reliant on China

Thanks to its appetite for commodities, China becomes an even more important market for Brazilian exports, while sales to the U.S. and Mercosur stutter

trade Pandemic makes Brazil even more reliant on China
Image: MAR Photography/Shutterstock

The global economic slowdown caused by the coronavirus crisis is changing the profile of Brazilian exports. And it continues to increase Brazil’s dependence on its undisputed top trading partner, China. Data from the Special Foreign Trade Secretariat shows a 7-percent drop in overall exports during the first half of 2020, which falls in line with the expected economic contraction for the economy this year. According to the latest Focus Report — a Central Bank-led weekly survey with market analysts — the median forecast for the Brazilian economy is a 5.66-percent contraction by the end of 2020.

Exports to China...

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