Colombian exports to China were up 490% in the first two months of 2010 compared with the same period of the previous year, according to a report released Monday by national statistics agency (DANE).
The Andean country’s exports to China were worth $396.8 million in January and February, up from $67.2 million in 2009, reports Portfolio.
The data represents a huge increase in China’s dealings with Colombia, which had been the South American country with the least commercial dealings with the Asian giant.
Now Colombia is taking its part in supplying the booming demand fueled by the East Asian country’s relentless growth.
In 2009 China represented just 2.9% of Colombia’s total exports, while so far in 2010 the figure has risen to 6.8%.
In February, China became one of Colombia’s top five export destinations.
The fuel sector is leading the way with exports of $281 million in the first two months of this year, compared with $427 million for the whole of 2009.
According to the Economic Commission for Latin America and the Caribbean (ECLAC), China is now the second largest trading partner in Latin America.