China-Africa Trade Shoots Up 19%

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Trade between Africa and China is shooting up by 19 percent every year, according to official figures released by China last Thursday.

In the first half of this year, trade figures totaled more than US$85.3 billion in value. Chinese imports from the African continent almost doubled by an estimated 46 percent, compared to the same period a year ago reaching around US$38.4 billion.

Chinese exports to Africa rebounded by 3 percent to stand at close to US$47 billion.

The upward trend in exports from the Asian giant to the continent was driven mainly by the shipbuilding, railway and aeronautics sectors, which rose sharply by 200, 161 and 252 percent respectively.

While the Chinese authorities have explained the reasons for the 3 percent increase in exports to Africa, they did not report on the 46 percent increase in imports, which is believed to be the result of a recovery in the prices of certain raw materials, particularly hydrocarbons.

China has become the continent’s largest trading partner since 2009, with trade expected to increase further between the Asian country and Africa in the coming years.

 

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