Asia absorbs almost half of Brazilian exports

Almost half of Brazilian exports travel 50 days by ship to Asia. From January to September, Asian countries bought $76.2 billion in Brazilian products, or 48.7% of all exports, in comparison to 40.5% during the same period last year. Exports to Asia grew 10.9% in the period, while total exports dropped 7.7%, according to data from the Economy Ministry. Of the total soybean exported by Brazil so far this year, 82% were to Asia. The number is of 84.4% and 75.3% for iron ore and crude oil, respectively. China is the engine behind the trend with 34.1% of all Brazilian exports to Asia, up from 27.6% in the same period of 2019.

Source: Valor International