2 78 China , theEUandLatinAmerica:CurrentIssuesandFutureCooperation 犜犪犫犾犲6 犈狓狆狅狉狋狊犪狀犱犐犿狆狅狉狋狊 , 犃狀狀狌犪犾犆犺犪狀犵犲 ( % ) Year Exports Imports Exports Imports Exports Imports BrazilEU ArgentinaEU MERCOSUREU 2004 / 2003 2005 / 2004 2006 / 2005 2007 / 2006 2008 / 2007 2007 / 2003 2008 / 2003 33.3 22 3 51 25 27 9.3 14 12 14 9 14 25.4 16 16 21 23 18 29.5 44 31 54 30 44 14.5 35 0 -23 12 22 136.6 132.1 75.0 221.4 117.9 145.8 170.9 212.6 75.1 63.1 144.2 136.4 Source:PreparedbytheauthorsbasedondatafromAlicewebandSICOEX. ComparisonoftheparticipationofUruguayandParaguayinMERCOSUR EUandMERCOSURChinatraderevealstwoimportantpoints.First , Uruguay andParaguaytogetherrepresent , onaverage , 3.5percentofMERCOSURs exports ( andlessthan1percentwithregardtoMERCOSURChina ) .Asimilar degreeof participation occurs on theimportside , with thetwo countries accountingforanaverageof3.2percentoftotalimports ( vs.11percentwith regardtoMERCOSURChina ) .Inotherwords , UruguayandParaguaydonot depress MERCOSURstrade balance , but add positively to the verified MERCOSURsurplusinallanalysedyears. 犜犪犫犾犲7 犆狅狀狊狅犾犻犱犪狋犲犱犜狉犪犱犲狑犻狋犺犈犝 , 犝狉狌犵狌犪狔 / 犘犪狉犪犵狌犪狔 , 20022008 ( 犝犛犇犿犻犾犾犻狅狀 ) Exports % Imports % Surplus 2003 1 , 023 4.2 606 3.5 417 2004 1 , 179 3.9 699 3.2 480 2005 1 , 087 3.3 763 3.1 325 2006 1 , 261 3.1 1 , 235 4.2 26 2007 1 , 671 3.2 1 , 259 3.0 412 2008 2 , 155 3.7 1 , 432 2.8 723 Source:SICOEX. 4.2 CompositionofTradeExports WithregardtoBrazil , in2008theEUimportedprimaryproducts ( 47per
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