Ouagadougou: Overall exports from Africa to China increased to $60.1 billion in the first half of the year, up 14% from the same period in 2023. This is reported by the Ecofin agency.
This growth is mainly due to increasing supplies to China of raw materials necessary for the transition to new technologies in the energy field, notes the agency.
China’s exports to Africa fell 2.3 percent to $84.8 billion in the first half of the year. Trade between Africa and China increased by 3.9% to $145 billion in the first six months of 2024.
The increase in African exports to China is largely explained by Beijing’s efforts to reduce its trade surplus with the continent. Thus, the Chinese authorities have reduced customs duties on 98% of imports from more than 20 African countries.
China imported from Africa mainly crude oil, copper, cobalt and iron ore. For their part, African countries have imported textiles, ready-to-wear clothing, cars and electronic products from China.
Source: Burkina Information Agency