According to data recently released by Brazil’s Ministry of Economy, Brazil’s exports to China rose against the tide in 2020, reaching a record $67.69 billion—accounting for 32.3% of Brazil’s total annual exports—while bilateral trade volume reached $101.728 billion. China remains Brazil’s largest export destination and largest source of imports, and has become the first trading partner with which Brazil’s annual trade volume has exceeded $100 billion.
The data also shows that, in the first 11 months of 2020, 34.8% of Brazil’s agricultural exports were shipped to China; in 2020, Brazil exported a total of 82.273 million tons of soybeans—a 13.56% increase year-on-year—with 74% of that volume destined for China. In addition, China accounted for 58% of Brazil’s crude oil exports and 71.8% of its iron ore exports. Brazilian Vice President Hamilton Mourão stated that the economic complementarity between Brazil and China provides a solid foundation for further expanding cooperation across multiple sectors, adding that 'the importance of the Chinese market to the Brazilian economy continues to grow.'
Last updated: 2026-03-08