Monday, August 24, 2020

China-Africa Trade Returns to Deficit for Africa

 Hellenic Shipping News Worldwide published on 24 August 2020 an article titled "China's Exports to Its Three Major Trading Partners all Increased by More than 10%."  

During the first half of 2020, China's global import and export trade fell 4.5 percent on a year-on-year basis.  But its trade with Africa fell 18 percent on a year-on-year basis.  More importantly China's exports to Africa from January to July of $59 billion resulted in a 7 percent reduction while imports from Africa at $40 billion constituted a whopping 30 percent year-on-year decrease.  This means the China-Africa trade relationship has returned to a deficit for Africa, $19 billion during the first half of 2020.