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Trade between Latin America and China reached a record of over $480 billion in 2023, solidifying the Asian country as the region's second most important trading partner, behind the United States. Over the past two decades, Latin American exports have grown significantly, with five countries standing out as leaders in trade with China.
- Brazil, the main trading partner, exported goods worth $122 billion in 2023, achieving a trade surplus of $63 billion. Key products include soybeans, iron ore, oil, and beef. The bilateral relationship was further strengthened by recent agreements valued at $10 billion.
- Chile ranks second, with exports exceeding $43 billion and a trade surplus of $23 billion. Copper and fruits, such as grapes and cherries, dominate Chilean exports. The country's strategy of positioning its products as premium has been key to its success in the Chinese market.
- Peru holds third place, thanks to a free trade agreement signed in 2009. Its exports, which surpassed $25 billion, are concentrated in copper, iron, and animal feed. Between 2010 and 2023, Peruvian exports to China quadrupled.
- Mexico, despite recording a trade deficit with China, exported over $18 billion in goods, including integrated circuits, medical instruments, and auto parts. Mexico plays a strategic role as a crucial link in supply chains connecting China with the United States.
- Ecuador rounds out the list, with exports totaling $7.9 billion in 2024. Key products include crustaceans, bananas, and premium cacao. These exports have been boosted by a free trade agreement signed in 2023, which is expected to drive a 30% growth in the coming years.
Trade between Latin America and China continues to expand, diversifying products and strengthening strategic alliances. The region demonstrates its ability to capitalize on opportunities in the Asian market, establishing itself as a key partner on the global stage.
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