China-Africa Trade Rises 7.4% in the First 7 Months, Keeping on Expanding This Year

By Global Times

Aug 23, 2023 05:11 PM

Banners promote the 15th BRICS Summit, which is to take place in Johannesburg, South Africa from August 22 to 24. Photo: VCG

China has been Africa's largest trading partner for 14 consecutive years, and the commerce between the two sides has sustained rapid growing momentum in the first seven months this year, according to China Customs.

In 2022, China' trade with Africa surged by 14.8 percent year-on-year to reach 1.87 trillion yuan ($282 billion), while the amount in the first seven months this year rose 7.4 percent year-on-year to 1.14 trillion yuan, official data showed.

The trade index between China and Africa reached 990.55 last year, indicating rapid growing pace, as noted by China Customs.

South Africa is China's largest trading partner among all African economies, accounting for 19.9 percent of total trade with the continent, which reached 226.15 billion yuan in the first seven months of 2023.

Nigeria and Angola were China's second and third largest trading partners in the continent during the first seven months.

China is the Africa's largest export destination. In the past seven months, the nation imported 426.65 billion yuan worth of goods from Africa, including crude oil, iron ore and copper. In the same period, the import of agricultural products increased 20 percent to hit 23.66 billion yuan, including imported aquatic products and wine.

Chinese shipments to Africa jumped 20 percent to 709.59 billion yuan in the first seven months of the year, with machinery and electronics exports like vessels and vehicles totaling 355.16 billion yuan, up 32.5 percent year-on-year.

Global Times