China-Africa trade reaches $166 Billion in seven months, showing steady growth
According to data from China’s General Administration of Customs, trade between China and Africa has seen consistent growth in the first seven months of the year, increasing by 5.5% to reach $166 billion.
In 2023, trade between the two regions reached a record high of $282.1 billion, highlighting the resilience of their economic ties.
Last year, China’s imports of African products such as nuts, vegetables, flowers, and fruits saw significant increases, with growth rates of 130%, 32%, 14%, and 7% respectively compared to the previous year.
Chinese exports to Africa also surged, particularly in sectors like new energy vehicles, lithium batteries, and photovoltaic products, which rose by 291%, 109%, and 57% respectively.
China has maintained its position as Africa’s largest trading partner for 15 consecutive years.
Strengthening economic and trade cooperation will be a key focus at the upcoming Forum on China-Africa Cooperation (FOCAC), scheduled to take place in Beijing from September 4 to 6, 2024.
