Economy

Chinese investments in Brazil fell 78% in 2022

Chinese-financed projects in Brazil have been delayed by environmental licensing requirements and the slowdown in the Chinese economy.

This photo shows workers transferring sacks of animal feed made from soybeans, which are imported from Brazil, at a port in Nantong, Jiangsu province, China. [AFP]
This photo shows workers transferring sacks of animal feed made from soybeans, which are imported from Brazil, at a port in Nantong, Jiangsu province, China. [AFP]

AFP |

SÃO PAULO - Chinese investments in Brazil, Latin America's biggest economy, fell by almost 78% last year, to the lowest level since 2009, the Brazil-China Business Council reported Tuesday (August 29).

Brazil, which received more investment from China than any country in the world in 2021 -- $5.9 billion -- saw the Asian giant's investments in its economy fall to $1.3 billion in 2022, the group said in a report.

The decrease was the result of "the nature of the projects undertaken and the absence of major energy, mining, infrastructure or oil projects, which are usually more capital-intensive," said Tulio Cariello, the council's research director.

He said several major Chinese-financed projects had also been delayed, "generally because of environmental licensing requirements."

Despite the decrease from China, total foreign investment in Brazil last year grew by 95%, to $90.6 billion.

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