Trade of the EU and China with South America After the 2008 Financial Crisis

Wioletta Nowak ()
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Wioletta Nowak: Institute of Economic Sciences, University of Wroclaw

A chapter in Eurasian Economic Perspectives, 2021, pp 233-243 from Springer

Abstract: Abstract The paper discusses Sino-European trade competition in South America over the period from 2008 to 2017. The aim of the paper is to show the scale of and trends in merchandise trade of the European Union and China with South American countries after the global financial crisis. During the analyzed period, the average annual growth rate of China’s exports to South America was nearly 7% while the growth rate of EU’s exports was less than 1%. The Chinese exports of goods to South America surpassed the European exports to the region in 2017 as a result. Besides, South American countries, except Brazil, Surinam, and Trinidad and Tobago, imported more goods from China than from the European Union. The decomposition of growth rates of the EU’s exports shows that they heavily depend on the growth rates of exports of Germany, Italy, and Spain. Since 2013, China has been importing more goods from South America than the European Union. In the years 2015–2017, China’s bilateral trade with the region was bigger than the EU’s one.

Keywords: Merchandise trade; Financial crisis; South-South cooperation (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:spr:eurchp:978-3-030-63149-9_15

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DOI: 10.1007/978-3-030-63149-9_15

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