China-Africa trade expanded by 20% in 2018
Jeremy Stevens
Last year, China-Africa trade posted the fastest rate of growth since 2011, expanding by 20%, from USD170bn in 2017 to USD205bn in 2018.
We expect bilateral trade to expand around 10% p.a. over the next three years or so. Within the next three to five years, China’s total trade with Africa should easily surpass USD300bn – double that of 2016.
Chinese exporters will continue to diversify, tapping into Africa’s fast-growing consumer markets. Meanwhile, Chinese import growth is expected to expand at a slower rate. We’d therefore expect Africa’s trade balance with China to widen considerably, to USD95bn by 2025.
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