In Mar., 2007 the export from China to Brazil increased by 53.4% to USD942m, breaking the record of Nov., 2006 (USD854.2m). During the same period, the export from America to Brazil was USD1.451b; from Argentina to Brazil was USD898m. Again China exceeded Argentina to become the second biggest exporter of Brazil. In Mar. the total import of Brazil was USD9.532b, among which 9.7% was from China. The main products exported from Brazil to China are iron ore and soybean. In Mar., the export from Brazil to China increased by 20.1% year on year to USD809m. China has become the third biggest importer of Brazil, only behind America (USD2.021b) and Argentina (USD1.156b). The favorable balance of trade between China and Brazil during Jan.-Mar., 2007 reached USD522m.