Tuesday, April 13, 2010
Monique Alexander Watch
: China is the second largest market for Latin America in the next decade.
China's participation in Latin American exports will increase from 7.6 percent in 2009 to 19.3 percent in 2020, the report said. . According to the report, the growth of China as a destination for Latin American exports would be given at the expense of a continuing decline in regional exports to the U.S.
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to ECLAC, the importance of China as an export market varies considerably within the region.
. China
move in the next decade in Europe and you will tread on the heels of the United States as a destination for Latin American exports, according to a study published by the Commission For Latin America and the Caribbean (ECLAC).
China and Latin America: a strategic relationship
to maintain current growth rates of Latin American exports to its main markets, China's share will increase from 7.6 percent in 2009 to 19.3 percent in 2020, the report said.
In the same period the European Union (EU) will maintain a share of around 14.0 percent and will be overtaken by China and by 2015, says the report "China and Latin America and the Caribbean: towards a strategic relationship. " According
report, the growth of China as a destination for Latin American exports would be given at the expense of a continuing decline in regional exports to the United States, from 38.6 percent of the total in 2009 to 28.4 percent in 2020.
According to ECLAC, the importance of China as an export market varies considerably within the region as a key destination for Chile, Peru and Argentina, for example, but small enough to Central America except Costa Rica.
In the case of Mexico, its exports to China accounted for less than 1.0 per cent in 2009. As imports from China, the study predicts a similar trend, or even more radical, and that China could surpass in 2020 the European Union and the United States as the source of Latin American imports.
The increase will primarily focus on the same capital goods already present in the region, such as electronics, parts and components, machinery and textiles.
Some countries in the region, says the study, and depend heavily on China as a trading partner, led by Chile, with 13.0 percent of its exports to China. Peru followed with 11.0 percent, Argentina (9.0%), Costa Rica (7.0%) and Brazil (7.0%).
The report, however, indicates that Latin American countries should improve the quality of their trade, diversifying exports and increasing their value added and knowledge to facilitate their integration in production chains in Asia-Pacific.
China, ECLAC notes, "has become a strategic business partner" for Latin America and the Caribbean and there is "ample opportunity" to secure export and investment agreements in such fields as Mining, Energy, Agriculture, Infrastructure, and Science and Technology.
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Source: Information and Analysis
Latin America.
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