China-Portuguese-speaking countries’ trade up

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After the first quarter of last year saw a 23 per cent year-on-year decline in trade between China and Portuguese-speaking countries, this year’s first quarter shows a marked turnaround, with a 43.33 per cent increase year-on-year, reaching US$23.97 billion (MOP192.28 billion), according to data from the China Customs published by the Forum for Economic and Trade Co-operation Between China and Portuguese-speaking Countries (Forum Macau).
Goods from Portuguese-speaking countries sold to China were valued at US$16.89 billion during the first quarter, a 55.27 per cent increase from the same quarter last year, while Chinese merchandise exports to the countries reached US$7.08 billion, a 21.09 per cent uptick year-on-year.
During the month of March, the value of merchandise traded reached US$9.13 billion, a 37.8 per cent increase month-on-month and a 65 per cent increase year-on-year.
Imports to China from Portuguese-speaking countries totalled US$6.62 billion during the month of March, seeing a 77.4 per cent year-on-year increase, while that of goods sold to Portuguese-speaking countries from China amounted to US$2.52 billion, a 39.23 per cent increase year-on-year.

Status quo
Brazil continued to be the strongest exporter of merchandise to China in terms of value, at US$6.42 billion during the month of March and US$16.77 billion during the first quarter, increases of 62.12 per cent and 44.56 per cent year-on-year, respectively.
Angola saw a 61 per cent year-on-year uptick in its trade with China during the first quarter, hitting US$5.55 billion during the period, while Portugal saw a 5.79 per cent drop in its overall trade during quarter, compared to last year, despite a 50.5 per cent increase in exports from the country to China, offset by a 23.5 per cent drop in the value of imports to Portugal from China, year-on-year.
São Tomé and Príncipe, the smallest of the trading partners among the Portuguese-speaking countries, imported goods worth US$144,480 from China during the first quarter, while not exporting a large amount of goods to China (registered as US$0.00 in the data).