Dateline: Beijing – In a significant development in international trade dynamics, African exports to China witnessed a robust increase of 14% in the first half of 2024, totaling $60.1 billion. According to the Ecofin agency, this growth is attributed primarily to the enhanced supply of raw materials essential for advancing new technologies in the energy sector.

According to Burkina Information Agency, the Ecofin agency highlighted the rising exports from Africa to China as being instrumental for the transition to innovative energy technologies. Notably, China’s exports to Africa saw a decrease of 2.3 percent, settling at $84.8 billion. Despite this, the overall trade between Africa and China grew by 3.9% to reach $145 billion during the same period.

This uptick in African exports is largely due to strategic adjustments by Beijing aimed at reducing its trade surplus with Africa. The Chinese government has notably cut customs duties on 98% of imports from over 20 African nations, facilitating this increase. Major exports from Africa included crude oil, copper, cobalt, and iron ore, while imports into Africa consisted of textiles, clothing, automobiles, and electronic products.