Imports from Brazil accelerate in 2016

Source:Xinhua Published: 2016/8/3 0:08:39

Despite declines in China's exports to Brazil, its imports from the South American nation grew 17.3 percent year-on-year during the first five months of 2016, the Ministry of Commerce said on Tuesday.

During the past two years, Brazil has become the largest source of China's imports of poultry and beef, Shen Danyang, spokesman of the ministry, said at a news briefing.

Bilateral trade grew steadily over the past few years. Brazil is China's 10th-largest trading partner and China's biggest investment destination in Latin America, Shen said.

The number of China-invested enterprises exceeds 200 in Brazil, and their direct investment hit $3.88 billion as of the end of 2015.

Bilateral trade fell 9.5 percent year-on-year to $24.1 billion during the first five months of the year, due to the weak global economy and falling commodity prices, official data showed.

Posted in: Economy

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