In 2016 Brazil posted the highest ever surplus in trade with China, amounting to US$11.770 billion, according to figures from the Ministry of Industry Data, Foreign Trade and Services.

That figure, compared with surplus of US$4.888 billion in 2015, was due fundamentally to the fact that Brazilian imports of Chinese products have fallen 23.94% year on year.

In 2016, Brazil sold goods to China worth US$35.234 billion, 1.33% less than in 2015, but bought goods worth just US$23.364 billion, compared with US$30.719 billion recorded in 2015.

Brazilian official data showed a strong and growing weight of raw materials (soybeans, iron ore and meat), with lower added value, in exports to China.

Raw materials accounted for 80.9% or US$28.143 billion in exports from Brazil to China, semi-finished products accounted for 13.6% and US$4.780 billion and industrial products just 5.43% or US$1.910 billion.

China sells mainly industrial products to Brazil, which in 2016 accounted for 96.9% of the total or US$22.650 billion, and raw materials accounted for just 2.78% or US$677 million.