The trade between China and Africa soared to over $295 billion in 2024, marking a 6.1% increase from the previous year, according to recent figures from the Chinese customs administration. This remarkable growth is pointed by Wang Lingjun, China’s vice minister of customs, and it underscores the nation’s expanding global trade footprint.
Despite this surge, Africa remains a secondary player in China's trading partnerships. She trailing behind regions like Asia where trade reached an impressive $6.16 trillion. South Africa stood tall as China’s top partner on the continent by purchasing goods worth $52.4 billion, followed by Nigeria with $21 billion and Egypt at $17.3 billion.
According to a report on the New Silk Roads initiative, China has maintained its status as Africa's largest trading partner, with the proportion of Sino-African trade steadily climbing for 15 consecutive years. A notable aspect of this trade dynamic is the Democratic Republic of Congo, now a key supplier for China, with imports hitting $21.9 billion in 2024. It has an astounding 51% increase while exports from China to the DRC experienced a slight decline.
It's reported that iron ore accounted for nearly $132 billions of China's total imports without a specific product data. Additionally, China's collaboration with Guinea on the Simandou project highlights the deepening ties, with trade between the two nations reaching $11.5 billion thanks to a 19% rise in exports from Guinea. This burgeoning relationship shows a promising future in the Sino-African trade landscape.
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