Trade with China, the country’s main trading partner, is showing signs of improvement, with a 3.7% increase in the first half compared to the same period last year, according to the Department of Studies Report of the National Customs Service.
For the same period, exports reached $14,175.8 million, an increase of 10.1% over 2019, and imports decreased by 5.2%, with purchases of $8,186.9 million.
Even more eloquent is the recovery of trade with China from what happened only in July: compared to the same month last year, exports grew 25.3%, with sales of $2,269.2 million, and imports increased by 10.7%, for purchases of $1,454.4 million.
«For the second month in a row we saw as positive data that shipments to China – our main trading partner – had significant growth. In July they increased by 10% compared to the same month of 2019», remarked the Undersecretary of Finance, Francisco Moreno.
In turn, the national director of Customs, José Ignacio Palma, added that «certainly maintaining the flow of trade with China is being very important for the country’s economy, which shows that all the facilitation measures we have taken have been adequate for these times of pandemic.»
Until July 31, the country’s exports to China had a positive variation of 10.1%, with China retaining the top buyer, with a 35.8% share of total exports.
Exports from the mining sector to China, which accounted for 76% of total shipments to China, were $10,769 million, an increase of 16.2% over the same period the previous year. Among the mining products were the shipments of copper ores and their concentrates, which accounted for 51.1% of exports of the mining sector as of 31 July 2020. Copper is followed by 39.8%, and a positive variation of 23.9%.
Meanwhile, for the same period 24% of shipments to China were exports of non-mining products, totaling $3,406 million, which showed a decrease of 5.8%, compared to the same period in 2019.
Fruit and fruit exports accounted for 38.8% of non-mining products, down 9.8%, and totalling $1.323 million. 26.1% of non-mining sales to China were in shipments of forest products and their derivatives, which had a negative variation of 20.4%, compared to the same period in 2019, caused mainly by the decline of 20.8% of cellulose shipments.
In other products, the increase in pork has increased, with a positive variation of 195.8%. Meanwhile, within seafood, salmon and trout (US$117 million) had a decrease of 30.2%. In addition, the percentage increases in shipments of fish and canned flour and seafood preparations were highlighted in this group, registering increases of 79.8% and 114.8%, respectively.
Imports from China reached $8.187 billion in the first half, 5.2% lower than in the same period in 2019. It should be noted that despite this contraction, China positioned itself as the main supplier, with a 26.2% share.
20% of the internalizations from China to our country were in imports from the fuel and lubricant sector, which saw an increase of 511.1%. Meanwhile, imports of non-combustible products up to 31 July 2020 recorded a 6.8% drop from 2019.
Meanwhile, purchases of Chinese machinery showed a positive variation of 25.9%. Products from the technology sectors fell 15.2% and entry into the country of clothing, accessories and footwear recorded a negative variation of 34.1%.
Finally, the products of means of transport and their parts had a decrease of 19%, in contrast the groups of food and other products increased by 12.% and 44.1%, respectively, highlighting in other products the increase of 45.7% in fertilizers and 33.8% in medicines.