China’s trade with Africa has experienced a significant rise, increasing by 5.5% in the first seven months of this year., further solidifying China’s role as Africa’s largest trading partner, a position it has held for 15 consecutive years.
This growth is a receipt to the strong resilience of China-Africa trade, which reached a record high of $282.1 billion in 2023.
According to data released by the General Administration of Customs, China’s imports from Africa have seen significant growth, with a 130% increase in nuts, 32% in vegetables, 14% in flowers, and 7% in fruits. Additionally, China’s exports of new energy vehicles, lithium batteries, and photovoltaic products to Africa have also seen substantial growth, with increases of 291%, 109%, and 57%, respectively.
China has maintained its position as Africa’s largest trading partner for 15 consecutive years, with the China-Africa Trade Index reaching a record high of 990.55 points in 2022. This index, released by the General Administration of Customs for the first time in 2023, reflects the rapid and positive development of China-Africa trade.
The growth in trade between China and Africa is attributed to the deepening economic and trade cooperation between the two regions. China’s trade with Africa in intermediate goods has seen a 6.4% year-on-year growth, accounting for 68% of the total value of bilateral trade. This cooperation has assisted Africa in its process of industrialization and economic diversification.
The 2024 Summit of the Forum on China-Africa Cooperation, scheduled to take place in Beijing from September 4-6, is expected to further enhance economic and trade cooperation between China and Africa. The summit will provide a platform for leaders from both regions to discuss and strengthen their trade ties.
