3 02 China , theEUandLatinAmerica:CurrentIssuesandFutureCooperation Afterthat , itgrew atanannual49.7 percenttoreach USD 65 billionin 2008 , 7.9percenthigherthantheaveragetradegrowthbetweenChinaand LatinAmerica.Duringthisperiod , ChinasexportstoMERCOSURgrewfrom lessthan USD3billiontoapproximately USD25.6billion , atanannual growthrateof48percent , 7.6percenthigherthanChinasaverageannual exportstoLatinAmerica.Chinasimportsfrom MERCOSURalsoshotup , fromlessthanUSD9billiontooverUSD39billion , atanannualgrowthrate of47.2percent , 2.5percenthigherthanChinasaverageannualimports fromLatinAmerica. 犜犪犫犾犲1 犜狉犪犱犲犫犲狋狑犲犲狀犆犺犻狀犪犪狀犱犕犈犚犆犗犛犝犚20032008 ( 犝犛犇100犿犻犾犾犻狅狀 ) 2003 2004 2005 2006 2007 2008 ExportsfromChina 28.46 49.71 66.88 101.14 160.2 255.59 ImportsintoChina 86.62 121.07 140.21 169.44 250.3 397.54 Totaltradevolume 115.08 170.78 207.09 270.58 410.5 653.13 Source:GeneralAdministrationofCustomsofPRChina2009. Accordingtothe General Administration of Customsofthe Peoples RepublicofChina , sincethebeginningofthenewcentury , Chinasexportsto MERCOSURhaveaccountedforanaverageof32percentofitstotalexportsto LatinAmerica , andChinasimportsfrom MERCOSURhaveaccountedforan averageof58 percent ofitsimportsfrom Latin America.Therefore , MERCOSURconstitutesamajorsourceofimportsforChina. ChinaslargesttradepartnersinMERCOSURarethetwolargestmember countries:Braziland Argentina.In 2008 , Chinasexportsto Braziland Argentinaaccountedfor73 percentand20 percentoftotalexportsto MERCOSUR , respectively , oratotalof93percent.ChinasimportsfromBrazil andArgentinaaccountedfor75percentand23percentoftotalimportsfrom MERCOSUR , respectively , oratotalof98percent. Trade between China and the two smallest member countries of MERCUSORislow , however.In2008 , Chinasexportsto Uruguayand ParaguaystoodatUSD1.012billionandUSD759million , respectively , or4per centand3percentofChinastotalexportstoMERCOSUR.Inthesameyear , ChinasimportsfromUruguayandParaguaywereUSD624millionandUSD25 million , respectively , or1.6percentand0.1percentofChinastotalimports from MERCOSUR. Chinas mainexportsto MERCOSUR areelectromechanicalproducts ,
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China, the EU and Latin America : current issues and future cooperation
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