African Business News

China is fast becoming Africa’s No. 1 Trading partner

In the first half of 2017, they totalled more than $85.3 billion in value. Chinese imports from the African continent almost doubled by an estimated 46 percent, compared to the same period a year ago reaching around $38.4 billion.

Their exports to Africa rebounded by 3 percent to stand at close to $47 billion.

The upward trend in exports from the Asian giant to African countries was driven mainly by the shipbuilding, railway and aeronautics sectors, which rose sharply by 200, 161 and 252 percent respectively.

While the Chinese authorities have explained the reasons for the 3 percent increase in exports to Africa, they did not report on the 46 percent increase in imports, which is believed to be the result of a recovery in the prices of certain raw materials, particularly hydrocarbons. Here is to hoping the deals being brokered are fair, equal and are of a massive benefit to the continent of Africa.

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