The United Nations Economic Commission for Latin America and the Caribbean recently released a report saying that due to the epidemic, Latin American exports will drop by 13% in 2020, among which exports to the United States and the European Union will drop by 14% and 13% respectively. However, due to the rapid control of the epidemic in China and the recovery of economic growth, the export of agricultural products and mineral products to China in this region will continue to grow after March 2020. Yue, director of the Economic Research Office of the Latin American Institute of the China Academy of Social Sciences, analyzed that it is not easy for Latin American exports to China to maintain growth in the case of economic recession caused by the epidemic, indicating that China still has great demand for agricultural products and resource products in this region.
22. In 2020, China's exports to Latin America declined slightly, with exports from traditional sectors such as manufactured goods and mechanical and electrical products shrinking and exports from medical and health sectors increasing, showing new structural changes. After the outbreak of epidemic in Latin American countries, China took advantage of its production capacity to meet the anti-epidemic needs of Latin American countries and became one of the main suppliers of medical equipment and anti-epidemic products in Latin America. In addition to commodity trade, China has repeatedly donated materials to Brazil, Mexico and other countries, which has played an important role in ensuring the sustainable supply of medical materials in Latin America.
In the face of the epidemic, China provided medical equipment and materials to Latin America through donation or trade, and Latin American countries also bought vaccines from China recently. Brazil and Chile approved the emergency use of COVID-19 vaccine developed by China Kexing Company in June+10 this year, and Peru also purchased COVID-19 vaccine produced by Sinopharm Group. In addition to the medical and health departments, driven by the demand for home life during the Latin American epidemic, it is also popular in the local area. Home economics? Related products have promoted the export of domestic leisure products such as indoor fitness equipment to Latin America.
The International Monetary Fund recently released a report, predicting that the Latin American economy will grow by 4. 1% in 20021year. Zhou Mi, deputy director of the Institute of International Trade and Economic Cooperation of the Ministry of Commerce of China, said that in 20021year, the economies of most Latin American countries will resume growth, and the trade between China and Latin America is expected to climb. Latin America has always been one of the main export markets of medical devices in the United States, while China is the main producer of epidemic prevention materials such as masks and respirators, and the export of these products to Latin America will continue to expand. "
With the slow economic recovery in 20021Latin America, the purchasing power of local residents will also pick up, and China's traditional export industries to this region are expected to gradually return to normal.