BEIJING — Despite declines in China’s exports to Brazil, its imports from the South American country have accelerated this year, with the growth rate reaching 17.3 percent year on year during the first five months, the Ministry of Commerce said on Aug 2.
During the past two years, Brazil has become the largest source of China’s imports of poultry and beef, Shen Danyang, spokesperson for the ministry, said at a news briefing.
Bilateral trade between the two countries witnessed steady growth over the past few years. Brazil is China’s 10th largest trading partner, and is also China’s biggest investment destination in Latin America, Shen said.
The number of China-invested enterprises topped 200 in Brazil, and their direct investment stock hit $3.88 billion at the end of 2015.
Trade between China and Brazil 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.