Brazilian exports in November grew 25.4 percent in value. And China is still the main destination, with 26.3 percent of the total. The figure is more than twice the US, which comes second, with 11.9 percent. The data come from the Getulio Vargas Foundation (FGV).
Exports to China went up 97.6 percent (in value) compared to November last year. The items with the most significant contribution were soybeans (45 percent) and crude oil (32 percent).
The increase, FGV says, comes as a result of the US–China commercial war, which encourages China to seek other suppliers of goods like soybeans. This rate, however, is likely to be temporary and will not compensate for the deterioration of the market conditions worldwide, in case protectionist becomes stronger.