Brazilian exports to China fall amid the outbreak of the new coronavirus

Posted by Marina
The impacts of the new coronavirus in China are already beginning to be felt in Brazilian exports. In January alone, there was a deficit of US $ 1.57 billion in exports to the Chinese after surpluses in the last few years in the month, according to the Foreign Trade Indicator (Icomex) of the Getulio Vargas Foundation (FGV).

According to the agency, there was a decrease of 2.5% in the volume exported and 6.4% in prices. By product, the biggest falls were registered in soy and oil. In the case of imports, the change in volume was positive (3.4%), but prices fell 3.8%. The Asian giant is the biggest buyer of Brazilian products.

"A new fact is the coronavirus epidemic in China. Projections of Chinese growth this year under the effect of this epidemic vary from 5% to 6%. The coronavirus, together with the effects of the agreement between China and the United States, points to a drop in commodity prices for the coming months, and a decline in the volume imported by China, "said FGV.

The trade balance with the United States was also in deficit (US $ 847 million) with a drop in exports of 28.8% in value and 23.2% in volume and 7.3% in prices. In imports there was a positive change in value (+ 8.7%), volume (+ 8.4%) and prices (+ 0.4%).




Source: DATAGRO