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Trade volume between China and Portuguese-speaking countries increased by 41% year-on-year in the first five months of this year

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According to the China-Portuguese-Speaking Countries Economic and Trade Cooperation Forum (Macau), the data of the General Administration of Customs of China was forwarded. From January to May this year, the total trade volume between China and Portuguese-speaking countries was US$46.3 billion, an increase of 41.51% year-on-year.Data show that China's exports to eight Portuguese-speaking countries totaled 13.1 billion US dollars, up 25.7% year-on-year; the value of imports from Portuguese-speaking countries totaled 33.284 billion US dollars, up 48.9%.

The bilateral trade between China and Brazil totaled US$33.186 billion, up 37.97% year-on-year. Among them, China’s exports to Brazil totaled 10.158 billion US dollars (by 32.78%), while the value of imports from Brazil was 23.02 billion (40.39%).The bilateral trade between China and Angola totaled US$10.046 billion, up 72.98% year-on-year. Among them, China’s export value to Angola was US$843 million (37.82%), and the value of imports from Angola was US$9.203 billion (77.12%).

As in the past, Portugal is China's third largest trading partner among Portuguese-speaking countries. During this period, bilateral trade volume was US$2.25 billion (up 7.26%), of which China's exports to Portugal were US$1.488 billion (down 4.69%). The value of imports from Portugal was US$761 million (42.08%).In Mozambique, fourth, bilateral trade with China was 748 million U.S. dollars (6.4%), of which China’s export value to Mozambique was 517 million U.S. dollars (down 1.35%), while the value of imports from Mozambique was 231 million US dollars (by 29.11%).In the first five months of this year, China traded a total of 93.6 million with the remaining Portuguese-speaking countries (Cape Verde, Guinea-Bissau, Sao Tome and Principe, East Timor).

According to the China-Africa Trade Research Center, among the Portuguese-speaking countries of Asia and Africa, except for Cape Verde, which became a middle-income country in 2008, the rest were the least developed countries identified by the United Nations.The “One Belt, One Road” initiative proposed by China is in line with the development of Portuguese-speaking countries. It is of great significance for Portuguese-speaking countries to formulate and implement development strategies according to their respective national conditions.

By the end of 2015, China had invested a total of US$6.3 billion in Portuguese-speaking countries. There are more than 400 direct investment companies established by Chinese investors in Portuguese-speaking countries. At present, cooperation between China and Portuguese-speaking countries covers trade, investment, infrastructure construction, finance, law, and personnel exchanges.Portuguese-speaking countries include Brazil, Portugal, Angola, Mozambique, Cape Verde, Guinea-Bissau, East Timor, etc., distributed in four continents with a population of 264 million.