RIO DE JANEIRO — China is Brazil's biggest foreign investor so far this year, according to consulting firm Dealogic on Monday.

In the first four and half months of 2017, Chinese investors spent $5.67 billion on mergers and acquisitions, representing 37.5 percent of total investment in the country.

Chinese investment in Brazil up to mid-April amounts to nearly half of the $11.92 billion China spent in 2016.

Trailing China were Argentina and Netherlands, with $1.6 billion and $1.1 billion respectively.

The rise in Chinese investment comes at a time when Brazil is improving its trade balance with China, thanks to increased iron and petroleum exports.

Brazil's positive trade balance went from $1 billion in the first quarter of last year to $5.5 billion in the same period of this year, according to the Ministry of Industry and Foreign Trade.