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China’s commerce with Africa grew steadily within the first seven months of the yr, rising 5.5 % yr on yr to 1.19 trillion yuan (about 166.6 billion U.S. {dollars}), in response to knowledge launched by the Common Administration of Customs.
China-Africa commerce reached a document excessive of 282.1 billion U.S. {dollars} in 2023, up 1.5 % yr on yr, exhibiting robust resilience.
In 2023, China’s imports of African nuts, greens, flowers and fruits elevated by 130 %, 32 %, 14 %, and seven %, respectively, from the earlier yr.
And China’s new vitality autos, lithium batteries, and photovoltaic merchandise exported to Africa elevated by 291 %, 109 % and 57 % yr on yr, respectively.
China has remained Africa’s largest buying and selling accomplice for 15 consecutive years, in response to the customs.
The GAC launched the China-Africa Commerce Index for the primary time in 2023, with the final index of knowledge from 2000 serving because the benchmark.
Ranging from 100 factors in 2000, the index reached a document excessive of 990.55 factors in 2022, indicating the speedy and constructive improvement of China-Africa commerce.
“China has lengthy been dedicated to deepening China-Africa financial and commerce cooperation, with ever nearer industrial ties. China’s commerce with Africa in intermediate items posted 6.4 % year-on-year progress within the first seven months of this yr, accounting for 68 % of the full worth of bilateral commerce, which assisted Africa in its technique of industrialization and financial diversification,” mentioned Lyu Daliang, director of the statistics and evaluation division beneath the GAC.
The 2024 Summit of the Discussion board on China-Africa Cooperation might be held in Beijing from Sept 4 to six, and it’s anticipated that the 2 sides will additional improve their financial and commerce cooperation
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