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China now Brazil's No. 1 partner

CHINA has replaced the United States to become Brazil's biggest trading partner, said Brazil's Ministry of Development, Industry and Exterior Trade on Monday.

According to the trade balance released by the ministry, the sum of Brazil's exports and imports with China reached US$3.2 billion in April, beating the US$2.8 billion of trade with the US.

Trade Minister Welber Barral said the change was "historic," as the US has been Brazil's biggest trading partner since the 1930s.

The bilateral trade volume between Brazil and China reached US$36.44 billion in 2008, increasing 55.9 percent from 2007, among which Brazil's export volume to China hit US$16.4 billion, with an import volume of US$20 billion, rising 50.8 percent and 56.9 percent respectively from the previous year.

However, Barral said the Brazilian government is trying to diversify exports to China, which are now mainly soya, cellulose, fuel, and manufactured products.


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