Trade between Portuguese-language countries, China drops 12% Jan-May 2020

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Trade between Portuguese-language countries, China drops 12% Jan-May 2020

9:16 CAT | 17 Jul 2020

File photo: Macauhub

Portuguese-language countries and China recorded trade of $51.8 billion (€45.7 billion) in the first five months of the year, a year-on-year decrease of 12%, as reported on Tuesday.

Exports to Beijing accounted for $37 billion (€32.6 billion), more than twice as much as imports of Chinese products, according to official figures published on Forum Macau’s website, based on Chinese Customs statistics.

Brazil continues to be by far the Portuguese-language country with the largest volume of trade with China, guaranteeing more than 80% of the goods traded, followed by Angola, Portugal, Mozambique, East Timor, Cabo Verde, Guinea-Bissau and Sao Tome e Principe.

Regarding the previous month, trade between the Portuguese-language countries and Beijing remained almost unchanged in May (+0.88%), with a decrease of 1.15% in imports of Chinese products.

Trade between January and May between Lisbon and Beijing rose to $2.4 billion (€2.1 billion), down 7.9% compared to the same period a year earlier.

In these five months of the year, Portugal imported 9.2% less Chinese products and exported to China 5.5% less compared to the same period in 2019.

China established the Macau Special Administrative Region as a platform for economic and trade cooperation with the Portuguese-language countries in 2003, the year in which it created the Macau Forum.

This Forum has a permanent secretariat, meets at the ministerial level every three years and includes, in addition to the secretary-general, Xu Yingzhen, and three deputy secretaries-general, eight delegates from the Portuguese-language countries (Angola, Brazil, Cabo Verde, Guinea-Bissau, Mozambique, Portugal, Sao Tome e Principe and East Timor).

Source: Lusa