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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]
Colombo International Financial City built on land reclaimed from the Indian Ocean and funded with $1.4bn in Chinese investment is a special financial zone and another major Chinese investment in Sri Lanka. [103] In April, Sri Lanka experienced a default on its foreign debt amounting to US$50 billion, with China being one of the creditors involved.
China surpassed the US in 2009 to become Africa's largest trading partner. Bilateral trade agreements have been signed between China and 40 countries of the continent. In 2000, China Africa Trade amounted to $10 billion and by 2014, it had grown to $220 billion. [3] As of 2024, Africa makes up less than 5% of China's global trade. [4]
China has become the world's second largest economy by GDP (Nominal) and largest by GDP (PPP). 'China developed a network of economic relations with both industrial economies and those constituting the semi-periphery and periphery of the world system.' [1] Due to the rapid growth of China's economy, the nation has developed many trading partners throughout the world.
China Aerospace Science and Technology Corporation (CASC), a state-owned military and space contractor, has announced a goal to make the country the world’s top space power by 2045.
The largest import and export merchandise trade partners for most countries of the world are listed below. Details for the European Union, Hong Kong and Macau are also included. In most cases the data relates to 2021 rankings. Data was extracted from the World Trade Organization's Trade Profile Database. [1] [2]
The increased investment in Africa by China has attracted the attention of the European Union and has provoked talks of competitive investment by the EU. [197] Members of the African diaspora abroad, especially in the EU and the United States, have increased efforts to use their businesses to invest in Africa and encourage African investment ...
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]