Trade between China and Portuguese-speaking countries slows

Trade between China and Portuguese-speaking countries fell 24.38 per cent in January to US$6.15 billion (MOP49.22 billion) compared to the same period last year. The information from China’s Customs Bureau was published on the Forum for Economic Trade and Co-operation between China and Portuguese-speaking countries, also known as Forum Macau. Exports of China to Portuguese-speaking countries suffered the greatest reduction with a 43.9 per cent drop year-on-year, at US$2.35 billion, a 15.1 per cent drop compared to the previous month. Imports from Portuguese-speaking countries to China also slowed, with a 20.7 per cent decrease compared to the previous month, at US$3.8 billion, a 3.69 per cent slowdown compared to January of last year. Brazil, the biggest partner Brazil continues to be China’s largest trading partner amongst the Portuguese-speaking countries, despite a 44.36 per cent reduction in exports from China compared to January 2015, at US$1.68 billion. Imports from Brazil to China increased 26.8 percent compared to the same month last year for an overall US$US$2.73 billion, compared to the same month last year. Overall, there was a 14.7 per cent reduction in trade between the two countries compared to January last year and a 20.6 per cent overall reduction compared to December 2015. Trade between the two countries in January was US$4.41 billion. Angola ranked second among the Portuguese-speaking countries, with overall trade of US$1.1 billion, a 50.8 per cent reduction compared to January last year, with a 76.6 per cent reduction in exports to China, totaling US$1.56 billion and 39.7 per cent reduction in imports from China totalling US$9.4 billion. Portugal ranks third Portugal came in at a not-so-close third in overall trade with China, at US$490 million in January. A 34.7 per cent increase in Portugal’s exports to China compared to January last year helped push the country to US$410 million, while a 51.1 per cent drop in imports from China as compared to the same month in 2014 equalled only US$80 million. Exports from Portugal showed a 64.5 per cent increase in January and a 21.1 per cent drop in exports compared to the previous month. A 44.8 per cent drop in overall trade between Mozambique and China in January 2016 compared to the same month last year left the trading partners with an overall US$1.29 billion, divided between US$86.3 million in exports to China, nearly double the US$43.4 million imported from China to the African nation. This equalled a 50.9 per cent drop in exports and a 26.56 per cent drop in imports comparing January 2015 with January 2016.