RIO DE JANEIRO, BRAZIL - Established as Brazil's main trading partner, China accounted for US$33.6 billion of the US$50.9 billion trade balance surplus in 2020, according to data from the Foreign Trade Indicator (ICOMEX), released this Friday, January 15th by the Getúlio Vargas Foundation (FGV).
The 17% increase, in volume, on exports to China was driven by commodities. Two-thirds of the positive balance in 2020 were the result of trade with the Asian giant.
"The increase in exports of commodities directed to China has cushioned the drop in foreign sales in a year of . . .