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In 2010, trade between Africa and China was valued at US$114 billion [9] and US$166.3 billion in 2011. [67] By 2022, total trade grew to US$282 billion. [68] China has been Africa's largest trading partner since 2009 when it surpassed the United States, [69] and continues to be by far its largest trading partner as of 2022. [68]
Even as early as the 1980s, trade between China and Africa was minuscule. Trade between China and Africa largely grew exponentially following China's joining of the World Trade Organization (WTO) and the opening up of China to emigration (of Chinese people to Africa) and the free movement of companies, peoples, and products both to and from the ...
South Africa is one of the African countries that China most prioritizes within Chinese-African foreign relations. [2]: 109 In 2010, China was South Africa's largest trading partner. [3] Since 2007 China-South African relations have become increasingly close with increasing trade, policy and political ties.
China also passed the traditional African economic partner and former colonial power France, which had trade worth US$47 billion. [254] In 2010, trade between Africa and China was worth US$114 billion and in 2011, US$166.3 billion. [255] In the first 10 months of 2012 it was US$163.9 billion. [255]
In 2010, trade between the two countries was worth US$7.8 billion. [26] In 2011, Nigeria was the 4th largest trading partner of China in Africa and in the first 8 months of 2012, it was the 3rd. [27] In April 2018, Nigeria signed a $2.4-billion currency swap deal valid for 3 years. [28]
Africa secured more than $10 billion in loans a year from China between 2012-2018, thanks to President Xi Jinping's Belt and Road Initiative (BRI), but the lending fell precipitously from the ...
As of 2007, Angola was China's biggest trading partner in Africa. [13] Trade between the two countries was worth US$24.8 billion in 2010. [14] Since then, Angola's trading power with China has waned. In 2011 and in the first 8 months of 2012 Angola was the second largest trading partner of China in Africa, after South Africa. [15]
China is currently the second largest exporter to Ghana. In 2005 US$433.74 million worth of imports came into Ghana from China with Ghana exporting US$0.1 worth of exports. This reflects a sharp rise in two-way trade between the two countries from $93.13 million in 2000 to $433.74 million in 2005.