The trade volume between China and Latin America rose 6 percent year on year to a record high of 518.47 billion U.S. dollars in 2024, the latest data from China's Ministry of Commerce showed.
According to the ministry, during the first three months of this year, the total trade volume between China and Latin America stood at 118.3 billion U.S. dollars, with China's exports at 65.73 billion U.S. dollars and imports at 52.58 billion U.S. dollars.
As for investment, China directly invested 14.71 billion U.S. dollars in Latin America in 2024.
From January to March this year, China's industry-wide direct investment in Latin America reached 270 million U.S. dollars.
As of March 2025, Latin American countries have invested in and established 37,000 enterprises in China.
In terms of contracted projects, Venezuela, Brazil, Ecuador, Argentina and Mexico are the main markets for Chinese contractors.
By the end of 2024, China had signed a total of 300.61 billion U.S. dollars worth of contracted projects in Latin America, with a turnover of 190.78 billion U.S. dollars.
From January to March 2025, the value of China's newly-signed contracted projects in the region reached 14.68 billion U.S. dollars, generating a business turnover of 5.99 billion U.S. dollars.
With regard to free trade cooperation, the China-Nicaragua and China-Ecuador free trade agreements officially came into effect in January and May 2024, respectively.
The protocol to upgrade China-Chile free trade agreement is being implemented well. And the free trade pact between China and Costa Rica works well too.
China and Peru have achieved substantial progress toward concluding the negotiations on upgrading a free trade agreement.
China-Latin America trade volume hits record high in 2024
