[2020-07-27] China forecast to remain main market for Brazilian exports

Source: Macauhub

Brazilian Foreign Trade Association President José Augusto de Castro predicts that China will reinforce this year its position as the main market for Brazilian exports, Agência Brasil reports.

The Brazilian state-run news agency quotes a document compiled by the association as forecasting that the value of Brazilian exports will reach US$192.7 billion this year, and that 35 percent will go to China.

The report quotes Mr Augusto de Castro as saying: “It’s a huge concentration in just one country.”Most of the exports will be commodities, he predicts.

Brazil should bring down its manufacturing costs to increase the amount of manufactured goods it exports to China and the European Union, Agência Brasil quotes Mr Augusto de Castro as saying.