Reporters learned from the Ministry of Commerce today (13th) that in recent years, China’s economic and trade cooperation with Latin American and Caribbean countries has continued to expand and achieved a series of fruitful results.
Bilateral trade continues to grow. In 2024, the trade volume between China and Latin America was US$518.47 billion, a record high, an increase of 6.0% year-on-year. From January to March 2025, the total trade volume between China and Latin America was US$118.3 billion, of which China’s exports were US$65.73 billion and China’s imports were US$52.58 billion.
Mutual investment continues to expand. In 2024, China’s direct investment flow to Latin America was US$14.71 billion. From January to March 2025, China’s direct investment in Latin America was US$270 million across all industries. As of March 2025, Latin American countries have invested in and established 37,000 enterprises in China.
Contracting projects continue to increase. Venezuela, Brazil, Ecuador, Argentina and Mexico are the main markets for Chinese companies to carry out contracting projects. By the end of 2024, China has signed a total of US$300.61 billion worth of contracting projects in Latin America, with a turnover of US$190.78 billion. From January to March 2025, China signed new contracting projects worth US$14.68 billion, with a turnover of US$5.99 billion.
The protocol to upgrade the free trade agreement between China and Chile and the free trade agreement with Costa Rica are being implemented well, and the negotiations to upgrade the free trade agreement with Peru have been substantially completed.