Alana Gandra
Repórter da Agência Brasil

Rio - The executive secretary at the Ministry of Development, Ivan Ramalho, speaking to an audience of financial executives in Rio de Janeiro, declared that total bilateral Brazil-China trade could reach US$10 billion this year. He said that would be possible with strong sales of soy and iron ore.

China has become Brazil's third biggest trade partner, now purchasing 5% of all Brazilian exports, which totalled US$2.709 in the first half. In first place is the US, with 20% of Brazilian exports, totalling US$10.872 billion in the first half. Next comes Argentina with 8.5% of Brazilian exports, totalling US$4.549 billion in the first half.

However, Ramalho explains that while Brazilian exports to the US and Argentina rose significantly, compared to last year (23.4% and 38.6%, respectively), Brazilian exports to China have fallen 6.6% in the first half of this year, compared to the same period last year. Most Brazilian exports to China are basic products (65%). Manufactured and semi-manufactured goods account for the remaining 35%.

Translator: Allen Bennett