Monday, February 16, 2009

Roaring China-Africa trade in 2008

China-Africa trade increased by 45% from 2007 to 2008 - reaching a record $107bn in 2008. The biggest trading partners are Angola and South Africa. This places even more emphasis on the question whether these deals are sustainable (see earlier post: China: Doing Deals that last?)

From ChinaView:
BEIJING, Feb. 11 (Xinhua) -- Trade between China and Africa reached a record 106.84 billion U.S. dollars in 2008, up 45.1 percent from a year earlier, customs figures showed Wednesday.

    Exports to Africa reached 50.84 billion U.S. dollars, up 36.3 percent. Imports from Africa hit 56 billion U.S. dollars, up 54 percent.

    China had a trade deficit of 5.16 billion U.S. dollars with Africa in 2008, compared with a surplus of 940 million U.S. dollars in 2007.

    The number of African countries with which China had more than 1 billion U.S. dollars in trade increased to 20 in 2008 from 14 in2007.

    Angola remained China's largest trading partner in Africa and South Africa came the second.

H/T: Centre for Chinese Studies

No comments: