Latin America Predicts That China Will Become The Second Largest Trading Partner In 2015.
Chile's "three o'clock newspaper" reported on April 14th, the Latin American and Caribbean Economic Commission (CEPAL) released a report in April 13th, estimated that in 2015 China will exceed the EU and become Latin America's second largest trading partner.
Over the past ten years, Latin American exports to major markets have continued to grow, and China may quickly become the second largest export market in the region. The share of regional exports has risen from 7.6% in 2009 to 19.3% in 2020, while the share of the EU will remain at around 14%, which has been surpassed by China since 2015.
The decline of China's trade with the US (possibly from 38.6% in 2009 to 28.4% in 2020) will be compensated for the Latin American trade.
China is an important trading partner in some Latin American countries.
Chile's exports to China account for 13% of its total exports, followed by Peru (11%), Argentina (9%), Costa Rica (7%) and Brazil (7%), and imports from Uruguay account for 27% of its imports in China, followed by Chile (11%), Argentina (11%), Brazil, Mexico and Columbia (10%).
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