China's strong dominance in Brazilian market

 

China is Brazil's top trading partner. In 2023, Brazil and China traded over $160 billion worth of items between them. Although, the trade is highly dominated by Brazil which has more  exports than imports. According to Brazil import export data, China represents around 30% share. China imported around $104 billion worth of goods from Brazil during fiscal year 2023. Soybeans are the top imported items by China from Brazil with recorded 75 MMT of soybeans. 

Compared to fiscal year 2022, there was a 40% increase in Brazil's soybean exports to China. The total value for Brazil's soybeans exports to China was estimated to be $38 billion in 2023. Olam International, Viterra and Intergrain are the top soybean export companies from Brazil. Iron ore was the second most exported item from Brazil to China. China was responsible for 64% of Brazil's iron ore exports share. 

Compared to FY 2022, there was a 10% rise in China imports of iron ore from Brazil. Brazil export data shows that around 380 MMT of iron ore worth $30 billion was exported to China in 2023. Vale Group, ArcelorMittal Sourcing SCA, and CSN Mineracao are the top Brazil's export companies in this sector. Whereas, the third most imported goods by China was Crude Petroleum.

China's crude imports from Brazil surged to 52% last year. Brazil export statistics shows China's crude imports went up from 495,000 b/d to 755,000 b/d in the past fiscal year. Brazil exported nearly $19.8 billion worth of crude petroleum to China in FY 2023. Petrobras, STASCO, Shell Trading and Repsol Trading are the leading crude petroleum suppliers from Brazil.

The fourth most imported item by China from Brazil was meat and offal. In 2023, Brazil imported around 2.2 MMT of meat and offal from China worth over $8 billion. Deep Catch Trading, Interra International and Lion Foods Atlanta are the leading meat export companies from Brazil. The future forecasts show 3% to 5% increase in Brazil's poultry exports to China.

On the other hand, China's key exports to Brazil include semiconductor devices, pesticides, telephonic devices, machine parts and motor vehicles. China's exports to Brazil went up by 33% last year. According to Brazil import data, the imports of semiconductor devices from China surged to $4.8 billion in fiscal year 2023. RS Components and Stellantis Europe are the leading companies for electronics items imports. 

Being the biggest importer of pesticides globally, Brazil’s pesticides imports from China stood at around $3.1 billion during FY 2023. The major companies for Brazil’s pesticides imports were Syngenta Agro, BASF SE and Adama Brasil. Whereas, Brazil’s broadcasting equipment imports from China were recorded to be $2.5 billion during this year. 

General Motors do Brasil, Papertech, Camco Technologies and Norsat International are some of the top broadcasting equipment importing companies from Brazil. Recent China export data shows rapid growth in the EV exports to the Brazilian market showing 535% increase in the vehicles imports. China and Brazil bilateral trade could see record growth this year. 

Import Export businesses from China and Brazil can find top profitable exports, imports, trading countries, top import export companies and potential international buyers. Through intelligence reports from global import export data providers, Chinese and Brazilian companies can achieve their goals of high ROI by spending a little on the reports.