Mozambique’s exports to China reach $1.62B as Chinese exports to CPLP countries hit new record

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Mozambique’s exports to China reach $1.62B as Chinese exports to CPLP countries hit new record

5:34 CAT | 07 Jan 2025

File photo: Macauhub

Chinese exports to Portuguese-speaking countries increased by 17.4 per cent in the first 11 months of 2024 compared to the same period last year, reaching a new record, according to official data.

Figures from China’s Customs Administration show that goods sold to Lusophone markets reached USD 78.7 billion by November.

This is the highest value recorded since the Forum for Economic and Trade Cooperation between China and Portuguese-speaking Countries (Forum Macau) began publishing these figures in 2013.

The previous annual record, USD 73.4 billion, was set in 2023.

Data released on Thursday show that Brazil was the largest buyer within the Lusophone bloc, with imports from China reaching USD 66.5 billion, a 23.5 per cent increase year on year.

Portugal ranked second, purchasing USD 5.54 billion (EUR 5.35 billion) worth of Chinese goods, up 3.6 per cent compared to the first 11 months of 2023.

Exports

Conversely, Lusophone exports to China fell by 2.3 per cent by November, amounting to USD 129.9 billion.

The decline was mainly due to the bloc’s largest supplier to China, Brazil, whose exports dropped by 2.2 per cent to USD 108.3 billion.

In addition, Angola, China’s second-largest trade partner within the Lusophone bloc, saw its exports decrease by 4.5 per cent to USD 16.2 billion (EUR 15.6 billion) in the first 11 months of 2024.

By contrast, Portugal’s exports to China rose by 11.2 per cent to USD 2.88 billion, while Mozambique’s exports increased by 6.6 per cent to USD 1.62 billion.

Meanwhile, Equatorial Guinea’s exports to China fell by 13.8 per cent to USD 972.9 million, while exports from Timor-Leste (-99.1 per cent), Cape Verde (-81.9 per cent), and São Tomé and Príncipe (-70.7 per cent) also declined compared to the January–November 2023 period.

Guinea-Bissau’s exports to China remained unchanged in the first 11 months of 2024, although the country did not sell more than USD 1,000 worth of goods.

Despite the new record in Chinese exports and the decline in Lusophone exports, China recorded a trade deficit of USD 51.2 billion with the Lusophone bloc between January and November.

Overall, trade between Portuguese-speaking countries and China reached USD 208.6 billion from January to November, up 4.3 per cent from the same period in 2023

Source: Lusa