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China, the EU and Latin America : current issues and future cooperation
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02 China theEUandLatinAmerica:CurrentIssuesandFutureCooperation Afterthat itgrew atanannual49.7 percenttoreach USD 65 billionin 2008 7.9percenthigherthantheaveragetradegrowthbetweenChinaand LatinAmerica.Duringthisperiod ChinasexportstoMERCOSURgrewfrom lessthan USD3billiontoapproximately USD25.6billion atanannual growthrateof48percent 7.6percenthigherthanChinasaverageannual exportstoLatinAmerica.Chinasimportsfrom MERCOSURalsoshotup fromlessthanUSD9billiontooverUSD39billion atanannualgrowthrate of47.2percent 2.5percenthigherthanChinasaverageannualimports 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20032008 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 Peoples RepublicofChina sincethebeginningofthenewcentury Chinasexportsto MERCOSURhaveaccountedforanaverageof32percentofitstotalexportsto LatinAmerica andChinasimportsfrom MERCOSURhaveaccountedforan averageof58 percent ofitsimportsfrom Latin America.Therefore MERCOSURconstitutesamajorsourceofimportsforChina. ChinaslargesttradepartnersinMERCOSURarethetwolargestmember countries:Braziland Argentina.In 2008 Chinasexportsto Braziland Argentinaaccountedfor73 percentand20 percentoftotalexportsto MERCOSUR respectively oratotalof93percent.ChinasimportsfromBrazil andArgentinaaccountedfor75percentand23percentoftotalimportsfrom MERCOSUR respectively oratotalof98percent. Trade between China and the two smallest member countries of MERCUSORislow however.In2008 Chinasexportsto Uruguayand ParaguaystoodatUSD1.012billionandUSD759million respectively or4per centand3percentofChinastotalexportstoMERCOSUR.Inthesameyear ChinasimportsfromUruguayandParaguaywereUSD624millionandUSD25 million respectively or1.6percentand0.1percentofChinastotalimports from MERCOSUR. Chinas mainexportsto MERCOSUR areelectromechanicalproducts