4 years ago China had taken over the US as main Brazilian exporting market, and now China has left EU behind as well. With the economy deceleration, and industrial activity retraction led to a demmand drop for Brazilian products. The Brazilian exports to EU has dropped by 8,1% from January untill August, in comparison to the same period of last year.
Conversely the sales of Brazilian products to the Chinese market rose 9,1% in the same period,this data are according the Brazilian Ministry of Development.
According to José Augusto de Castro, President of the International Trade Brazilian Association (AEB), in this new position China is, makes the Brazilian shipments more dependent on the Asian country and it reflects the importance commodites have undertaken in the Brazilan exports.
According to the Brazilian Development Ministry information, roughly 50 % of industrialized products from Brazil go to EU. What prevails as sales for the Chinese market are the basic products.
Source: Adapted from Valor Economico