On January 3, the latest annual statistics released by the Ministry of economy of Brazil showed that the total foreign trade of Brazil in 2021 reached 499.8 billion US dollars, of which the total import and export were 219.39 billion US dollars and 280.39 billion US dollars respectively, an increase of 38.2% and 34% respectively compared with the same period last year, realizing a trade surplus of 61.008 billion US dollars, a record high. The data also shows that China continues to be Brazil's largest trading partner. Last year, the bilateral trade volume between China and Pakistan reached US $135.347 billion, a record high, with a significant year-on-year increase of 32%. Among them, Pakistan's exports to China amounted to US $87.696 billion, accounting for 31.28% of Pakistan's total exports, with a year-on-year increase of 28%,; Imports from China amounted to US $47.651 billion, accounting for 21.72% of Pakistan's total imports, with a year-on-year increase of 36.7%; Pakistan's trade surplus with China reached US $40.045 billion, an increase of 21.3% over the same period last year, accounting for 65.6% of Pakistan's total surplus. Pakistan's Ministry of economy pointed out that the rising prices of bulk commodities (such as grain, oil and minerals) and the high exchange rate of the US dollar have become the main reasons for the strong expansion of Pakistan's foreign trade surplus last year. In terms of exports, extractive industries, agriculture and processing and manufacturing industries performed prominently, with year-on-year growth of 62.4%, 22.2% and 26.3% respectively, of which major export products such as iron ore, oil and soybeans increased by 72.9%, 54.3% and 35.3% respectively. In addition, the Pakistan Institute for industrial Development (ledi) issued a statement stressing that the proportion of manufacturing exports in Pakistan's total exports continued to decline, "In 2021, the proportion fell to 51%, far lower than the 81% level 20 years ago." The prospects are not all positive and bright. Castro, President of the Brazilian Foreign Trade Association (AEB), said that due to many uncertain factors next year, the prices of important export products of Pakistan's foreign trade such as iron ore and oil may be affected to some extent, making it difficult for the outside world to accurately grasp the development trend of Pakistan's foreign trade in 2022. Therefore, the association predicts that with the decline of commodity prices next year, Pakistan's total exports will fall to US $262.4 billion, while its total imports will increase to US $227.9 billion, higher than the government's expectation of US $221 billion. [source: Economic and trade window of the Consulate General in Sao Paulo]