Brazil tops global Chinese car imports with 147% surge
According to Chinese customs data, Brazil has emerged as the leading global importer of Chinese automobiles, with a remarkable 147% increase in imports to US$5.2 billion during the first five months of 2024. This figure represents a significant jump from US$2.1 billion in the same timeframe last year, when Brazil held the sixth position. Following Brazil, Russia imported US$5 billion, while Belgium brought in US$3.8 billion. The surge was largely driven by electrified vehicles, which accounted for US$4.5 billion. Notably, April and May contributed US$2.7 billion, indicating stockpiling in anticipation of a duty change. Brazil also led in global electric and hybrid vehicle imports, with these models comprising 87% of imports from China last year, up from 33% in 2021.
Key facts
- Brazil became the world's top buyer of Chinese cars in the first five months of 2024.
- Imports surged 146.9% to US$5.2 billion from US$2.1 billion a year earlier.
- Russia bought US$5 billion and Belgium US$3.8 billion in the same period.
- Electrified models accounted for US$4.5 billion of the total.
- April and May contributed US$2.7 billion, suggesting stockpiling ahead of a duty change.
- Brazil led global rankings for electric and hybrid vehicles from China.
- Electric and hybrid models made up 87% of Brazil's vehicle imports from China in 2023, up from 33% in 2021.
- Brazil's first-half purchases from China reached US$5.35 billion, double the value of imports from France.
Entities
Institutions
- Brazil-China Business Council
Locations
- Brazil
- China
- Russia
- Belgium
- Britain
- France