The new commodities boom and the increasing Chinese participation in Brazil’s foreign trade structure

Abstract

The Sino-Brazilian economic relations have gradually assumed a strategic profile in the 21st century. Since 2009, China has positioned itself as Brazil’s foremost trading partner. In the period from January to November 2023 (MDIC), this relationship reached a record level of participation in the overall trade flow between the two countries. This article aims to analyze the economic structure of this new phase of commercial relations between Brazil and China, establishing the onset of the commodities boom and the subsequent increase in Chinese demand observed in the early 2020s as a temporal landmark. Through a primary analysis of Brazil’s foreign trade statistics and by means of an exploratory research approach, there is an anticipation of a reorientation of Chinese companies and capital towards the Brazilian commodities sector. This development enables an assessment of both positive and negative externalities for the national productive structure.

JEL: F02, F10, F50.

Keywords
Brazil; China; Sino-Brazilian economic relations; New commodities boom