China and Brazil strike deal to trade in their own currencies
2023-03-31 16:25:59 [Print]
Brazilian government announced on Wednesday (March 29) that it has reached a deal with China to trade in their own currencies, discarding the U.S. dollar as an intermediary.
The deal is expected to reduce costs and promote even greater bilateral trade and facilitate investment, the Brazilian Trade and Investment Promotion Agency (ApexBrasil) said in a statement.
Statistics from China Customs showed that the trade volume between China and Brazil recorded 171.49 billion dollars in 2022, up by 4.9% year on year. China exported USD61.97 million dollars of products to Brazil and imported USD109.52 billion dollars of products from the country last year. Brazil is China's ninth largest trading partner and China has been Brazil's biggest trade partner for 14 consecutive years.
The deal is expected to reduce costs and promote even greater bilateral trade and facilitate investment, the Brazilian Trade and Investment Promotion Agency (ApexBrasil) said in a statement.
Statistics from China Customs showed that the trade volume between China and Brazil recorded 171.49 billion dollars in 2022, up by 4.9% year on year. China exported USD61.97 million dollars of products to Brazil and imported USD109.52 billion dollars of products from the country last year. Brazil is China's ninth largest trading partner and China has been Brazil's biggest trade partner for 14 consecutive years.
Copper Conc. TC 25%min CIF China
Unit:USD/mt
China copper concentrate producers' inventory statistics by province by month
Unit: mt
