In the first five months of 2024, trade between China and countries where Portuguese is spoken has surged to unprecedented levels, marking a significant milestone for economic exchange.
Data from a prominent trade organization reveals that exports from Portuguese-speaking countries to China have soared to a record US$58.4 billion. This marks a substantial 12.9% increase in total trade volume, which has now reached US$94.2 billion for the period, setting a new benchmark.
Brazil, the largest among the Portuguese-speaking countries with a population exceeding 200 million, led this growth by achieving record exports of US$48.8 billion to China, representing a notable 12.8% rise from the previous year. Other notable contributors include Angola, Portugal, and Mozambique, each contributing to the overall robust trade figures with significant year-on-year increases.
While some countries like Timor-Leste and São Tomé and Príncipe experienced declines in export figures, others such as Cabo Verde and Guinea-Bissau saw remarkable growth, highlighting the diverse dynamics within the group.
On the import side, Brazilian imports of Chinese goods surged by 26.3% to US$28.5 billion, setting another record and underscoring strong demand within Brazil's economy. Despite this increase, China maintains a trade deficit with Portuguese-speaking countries, amounting to US$24.3 billion for the first five months of 2024.
This surge in trade activity underscores a resilient and expanding economic partnership between China and the Portuguese-speaking world, promising sustained momentum in the global marketplace.
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