Brazil's Ministry of Development, Industry and Foreign Trade announced Monday that Brazil's trade surplus with the world increased to US$29.79 billion in 2011, up from US$20.15 billion in 2010.
Exports from Brazil totaled US$256.04 billion in 2011, led by increased Chinese demand for Brazil-produced products such iron ore. Brazil's exports to China were US$44.3 billion in 2011, a 43 percent 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 US$226.25 billion throughout the year. Just in December 2011, Brazil's trade surplus was US$3.817 billion, up substantially from November $583 million.