Trade between China and Africa totals over $85b in first half 2017

There appears no letting in China, Africa trade relations, as new figures on trade between Africa and China released last week show an increase by 19 per cent. Official figures released Thursday August 3, 2017 say trade between China and the continent totalled more than $85 billion in value in the first half of 2017.

According to the figures, Chinese imports from the continent has almost doubled by an estimated 46 per cent, compared to the same period a year ago amounting to around $38.4 billion. Chinese imports include minerals, agricultural products and fruits.

Chinese exports to Africa rebounded by three per cent which is close to $47 billion, it shows. The data indicates that the rise in exports from China to Africa was driven mainly by the shipbuilding, railway and aeronautics sectors, which rose sharply by 200, 161 and 252 per cent respectively.

Chinese trade with Africa is mainly driven by three partners on the continent – South Africa, Angola and Nigeria. Trade with these countries went up 28 per cent, 67 per cent and 22 per cent, respectively in the period under review.

Additionally, Chinese non-financial investment in Africa stood at $1.6 billion in the first six months, up 22 percent year on year.

By Emmanuel K. Dogbevi