Trade between China and Portuguese-speaking countries between January and February of this year amounted to US$14.84 billion (MOP118.83 billion), a 32.64 per cent increase from the same period last year, according to data released by the Forum for Economic and Trade Co-operation between China and Portuguese-speaking Countries (Forum Macao).
The annual comparison is weighted down by the first two months of 2016 registering a decline of 25.54 per cent year-on-year in Sino-Luso trade, reaching US$11.19 billion.
The increase in the first two months of this year was mainly driven by imports to China from Portuguese-speaking countries, which grew by 43.74 per cent year-on-year to US$10.28 billion, with exports from China increasing by almost 13 per cent to US$4.56 billion.
On a monthly comparison, Sino-Luso trade in February reached US$6.62 billion, a 19.39 per cent drop from the previous month, with exports from China decreasing by 45.68 per cent month-to-month to US$1.60 billion, while exports from Lusophone countries decreased 4.61 per cent month-to-month to US$5.02 billion.
The Holy Trinity
In the first two months of this year, trade between China and its largest Portuguese-speaking trading partner, Brazil, grew by 35.64 per cent year-on-year to US$10.35 billion.
Total trade between Brazil and China represented almost 70 per cent of all Sino-Luso trade in the first two months of 2017.
Exports from the South American country to China rose by 40.54 per cent year-on-year to US$6.66 billion, while goods imported by Brazil from China went up 27.61 per cent when compared with the same period last year, to US$3.69 billion.
China’s second largest Lusophone trading partner, Angola, registered the largest yearly increase in trade in the first two months of this year, a 42.4 per cent jump to US$3.48 billion.
The increase was largely influenced by a 48.69 per cent year-on-year rise in China’s imports from the Portuguese-speaking African country to US$3.23 billion, with imports from China representing 92.8 per cent of the total trade volume between the two countries.
However exports from China to Angola between January and February of this year went down by 7.72 per cent yearly to reach US$252.14 million.
Of China’s three largest trading partners, Portugal was the only one to register a yearly decrease in trade in the first two months of 2017, a 12.84 per cent drop to US$704.92 million.
The decrease was based on a 35.73 per cent drop in exports from China to the European country, reaching US$425.36 million in January and February of this year.
However Portugal’s exports to China increased considerably in the first two months of 2017, going up 90.26 per cent year-on-year to US$279.55 million.