Trade between China and Brazil increased by 9.9% year-on-year in the first ten months of the year, marking a strengthening of economic and trade relations between the two countries.
The growth rate was 4.7 percentage points higher than the overall growth rate of China’s foreign trade, data released by the General Administration of Customs on Sunday showed.
Trade between China and Brazil reached 1.14 trillion yuan ($158.33 billion) between January and October, including 432.08 billion yuan in exports and 708.15 billion yuan in imports, the two recording steady growth.
This year marks the 50th anniversary of the establishment of diplomatic relations between China and Brazil. Over the past five decades, the two countries have achieved fruitful results in economic and trade cooperation and made significant progress in bilateral economic and trade relations.
China has been Brazil’s largest trading partner and Brazil’s largest export destination for 15 consecutive years, while Brazil has long been China’s largest trading partner in Latin America.
With the deepening of economic and trade cooperation, more and more quality products from Brazil are entering the Chinese market. In the first ten months of the year, China’s share of Brazilian exports of soybeans and iron ore exceeded 70%, while that of pulp and paper and crude oil exceeded 40%.
More and more quality industrial products from China are entering Brazil. China exported intermediate goods worth 216.86 billion yuan to Brazil in the first ten months of the year, up 11.8 percent from a year earlier, accounting for the highest half of the total value of Chinese exports to Brazil.
