TRADE between China and Africa rose by 26.9 per
cent in the first quarter year on year, reports Hong
Kong's South China Morning Post.
Two-way China-Africa trade totalled US$52.1
billion in the first three months of the year as most
economies eased trade and travel restrictions that had been imposed to curb the
spread of the virus.
The latest Chinese customs data showed that China exported
goods worth $29.8 billion to Africa in the quarter, up 39.2 per cent from last
year. African countries sold China goods worth $22.3 billion during the period,
a 13.6 per cent increase.
Virag Forizs, an
Africa economist at London-based consultancy Capital Economics, said the recent
waves of Covid-19 in Africa appeared to be less economically damaging, with the
authorities avoiding harsh restrictions on businesses and traders. "This
is probably reflected in stronger African demand for Chinese products, while
also bearing in mind base effects," she said.
Source : HKSG / Graphic : China Africa Research Initiative.
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