Attacked by Bolsonaro's policies, China accounts for almost 80% of Brazil's trade surplus.
While trade with China, the target of racist attacks by Abraham Weintraub and Eduardo Bolsonaro, yielded a positive balance of US$4,3 billion for Brazil, business with the United States produced a deficit of US$2,7 billion in the first months of the year.
247 - As racist attacks by Bolsonaro supporters against China These actions could be costly for the Brazilian economy, which is already expected to contract by nearly 5,5% this year due to the coronavirus pandemic. This is because China has been by far Brazil's largest trading partner, but may switch to other suppliers due to the aggressive actions being taken by Abraham Weintraub and Eduardo Bolsonaro.
"The repercussions of Education Minister Abraham Weintraub's statements regarding Covid-19 and China come at a time when Brazilian exports and trade surplus are becoming more dependent on the Asian country. From January to March of this year, the bilateral trade surplus with China, the largest destination for Brazilian exports, reached US$4,33 billion, well above the US$2,96 billion of the same period in 2019. Meanwhile, bilateral trade with the United States, Brazil's second-largest trading partner, resulted in a deficit of US$2,73 billion in the first quarter of this year," it points out. reporter of Value.
"The trade surplus with China from January to March 2020 is second only to the positive balance of US$ 5,53 billion obtained from January to March 2017 in the historical series of bilateral trade for the period. In that year, however, the balance with the Chinese was equivalent to 38,4% of the total surplus of the Brazilian trade balance. This year, the positive result of the first quarter with China is equivalent to 77,9% of the total surplus, according to data from the Secretariat of Foreign Trade (Secex/ME), linked to the Ministry of Economy," points out journalist Marta Watanabe.