Latin America boosts China exports despite EU slump in demand

LATIN America could replace the European Union as China's largest trading partner within five years, say economists after this year's slump in European export demand, down 0.8 per cent in the first five months of 2012 from a healthy 18 per cent in 2011 growth and 34 per cent in 2010.

The China export decline to Europe was offset by the intra-Asia, African and Latin American trade growth. Its exports to non-EU, US and Japanese markets surged 17 per cent in May.

Of the Latin American countries though to make large increases in growth in consecutive years were Brazil, Colombia and Peru, reports London's Containerisation International.