Brazil's Ministry of Development, Industry and Foreign Trade announced that Brazil's trade surplus with the world increased to USD 29.79 billion in 2011, up from USD 20.15 billion in 2010.

Exports from Brazil totaled USD 256.04 billion in 2011, led by increased Chinese demand for Brazil produced products such iron ore. Brazil's exports to China were USD 44.3 billion in 2011, a 43% YoY jumped over 2010. China remained Brazil's largest trading partner in 2011, after surpassing US in 2009. Brazil's second largest trading partner is the US, followed by Argentina.

Imports were also high in 2011, totaling USD 226.25 billion throughout the year. Just in December 2011, Brazil's trade surplus was USD 3.817 billion, up substantially from USD 583 million in November 2011.

(Sourced from SteelOrbis)
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