Chinese Imports From Africa At An All Time High
Perhaps, China needs Africa as much as Africa needs it.
You see, a significant percentage of goods consumed in Africa is coming from China. And it now also appears that China is also bullish on African goods.
That makes sense for the healthy bilateral relations that currently exists between the continent and China.
According to new report, trade import and export volumes between China and countries from Africa reached 116 billion dollars in the first seven months of 2018 – up 18.7% compared to 2017.
China’s exports to Africa were worth 59.36 billion dollars – an increase of 8.8% compared to last year – while its import volume rose 31.3% to stand at 56.81billion dollars.
The figures were announced by the Chinese Ministry of Commerce (MOC) on its website.
China’s imports from Africa hit a global high over the seven-month period, while the trade volume between the two sides was second only to the figure recorded between China and Latin America, said the MOC.
China has continuously called for the strengthening of bilateral ties with African countries.
According to data from the Department of African Affairs at China’s Ministry of Foreign Affairs, China-Africa trade has grown from a mere 765 million to 170 billion dollars over the past four decades – a 200-fold increase.
China has also maintained its position as Africa’s largest trading partner for eight consecutive years.
Don't forget to share this story with your friends