| China surpasses US to become Brazil's biggest trading partner |
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| Thursday,May 07,2009 Posted: 05:34 BJT(2134 GMT) |
| From:Xinhua News Agency May 5, 2009 Article type:Reproduced |
China replaced the United States to become Brazil's biggest trading partner, said Brazil's Ministry of Development, Industry and Exterior Trade on Monday.
According to the trade balance released by the ministry, the sum of Brazil's exports and imports with China reached US$3.2 billion in April, over the 2.8 billion dollars in its trade with the U.S..
Trade Minister Welber Barral said the change was "historic," as the U.S. has been Brazil's biggest trading partner since the 1930s.
According to Brazil's official statistics, the bilateral trade volume between Brazil and China reached 36.44 billion dollars in 2008, increasing 55.9 percent from 2007, among which Brazil's export volume to China hit 16.4 billion dollars, import volume 20 billion dollars, rising 50.8 percent and 56.9 percent from the previous year respectively.
However, Barral said that the Brazilian government is trying to diversify the exports to China, which till now are mainly soya, cellulose, fuel, and manufactured products.
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