According to China Customs, the bilateral trade volume between China and Brazil in 2005 reached US$14.82 billion, up by 20 percent, among which China's export to Brazil was US$4.83 billion, up by 31.4 percent, while China's import from Brazil was US$9.99 billion, up by 15.2 percent. China had a deficit of US$ 5.16 billion. China mainly exported coal, coke and semi-coke, electro-mechanic products, electric appliances and electronic products, high- and novel-tech products, electronic technology, textile yarn and related products, diode and similar semi-conductor parts, mechanic equipment, meters and instruments. China's major imports from Brazil included iron sand and concentrates, soy beans, steel billet and primarily forged steel pieces, rolled steel, steel plates, paper pulp, soy bean oil, edible plant oil, manganese sand and concentrates, crude oil, etc.
According to the Ministry of Commerce (hereinafter referred to as MOFCOM), the turnover of completed engineering projects contracted by the Chinese companies in Brazil reached US$ 250 million in 2005, the volume of the newly signed contracts was US$ 430 million, and no new labor service contract was signed. By the end of 2005, the accumulated turnover of engineering contracts completed by the Chinese companies in Brazil reached US$380 million, with that of all the contracts signed US$620 million, and the volume of the completed labor service contracts has reached US$7.76 million, with that of the total contracts signed being US$18.91 million.
Twelve Chinese-funded non- financial enterprises that had either obtained approval from or registered with the MOFCOM were set up in Brazil in 2005, with a total contractual investment of US$16.43 million by the Chinese investors. By the end of 2005, there were altogether 89 Chinese-funded non- financial enterprises set up in Brazil with a total investment of US$150 million by the Chinese investors.
According to MOFCOM, Brazilians invested in 36 projects in China in 2005, with a contractual volume of US$140 million and an actual utilization of US$24.61 million. By the end of 2005, Brazilian investors had altogether invested in 348 FDI projects in China with a contractual volume of US$530 million and an actual utilization volume of US$140 million.
