China-Africa trade tops $210 billion
Updated: 2014-04-25 09:16
(China Daily Africa)
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African customers talk with an employee of a Chinese farm machinery producer about a machine on show at a recent trade fair in Guangzhou. Provided to China Daily |
China-Africa trade tops $210 billion
Trade between China and Africa rose 5.9 percent year-on-year to $210.2 billion last year, the China Chamber of International Commerce says.
Chinese exports to Africa were worth $92.8 billion, 8.8 percent more than in 2012. Imports from Africa were worth $117.4 billion, 3.8 percent more than in 2012.
More than 2,000 Chinese companies had been established in Africa by the end of last year, in sectors including agriculture, infrastructure, manufacturing, resources exploration, finance, trade and logistics.
However, as developed economies including the United States, the European Union and Japan realize the development potential in Africa, Chinese companies are facing ever increasing competition in the continent, said Stephen Priestley, Standard Chartered's Africa head of client coverage and origination.
