The commercial exchange between China and Latin America and the Caribbean multiplied 35 times since 2000 and went from US$14 billion in 2000 to nearly US$500 billion in 2022, according to a report by the Economic Commission for Latin America and the Caribbean (ECLAC)
“As a result of the great dynamism of commercial exchange, China has displaced the European Union as the second trading partner of the region, by absorbing 13% of its exports in 2022 and supplying 22% of its imports,” he highlighted.
Likewise, the commission highlighted that the value of regional exports to that country multiplied by 49, and that of imports multiplied by 30.
An example of the impact of this commercial flow is that “1 of every 5 dollars of added value generated in Latin America and the Caribbean is exported to China in the agriculture, livestock and fishing sectors, and in the case of mining products.”
For example, in the 2020-2022 three-year period, China represented on average between 30% and 37% of the total exports of goods from Brazil, Chile and Peru.
However, in Central America, with the exception of markets such as Panama, China still maintains secondary positions.
ECLAC also indicated that trade between Latin America and the Caribbean and China has a clearly inter-industry structurehim: while In 2022, 95% of the region’s exports corresponded to raw materials and manufactures based on natural resources, China’s shipments corresponded to 88% of low, medium and high technology manufactures.
Exports of primary goods grew the most between 2000 and 2022, and at the end of said period they reached shares in total shipments of 83% in South America, 68% in Central America, 51% in Mexico and 46% In the Caribbean.
Source: Larepublica
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