Who is Africa's largest trading partner? (2024)

Who is Africa's largest trading partner?

While the EU is Africa's biggest trading partner, followed by China and then intra-African trade, the researchers also examined Africa's trade with the US, UK and emerging economies such as India, Brazil and Turkey.

Who is Africa's main trading partner?

BEIJING, Jan. 31 (Xinhua) -- China has remained Africa's largest trading partner for 15 consecutive years, with bilateral trade reaching a record 282.1 billion U.S. dollars in 2023, a Ministry of Commerce official said on Wednesday.

Who is China's largest trading partner in Africa?

South Africa is China's largest trading partner among all African economies, accounting for 19.9 percent of total trade with the continent, which reached 226.15 billion yuan in the first seven months of 2023.

What are the 3 largest African exports?

The world's second-largest continent, much of the value of Africa's exports are concentrated in natural resources like petroleum, gold, diamonds, natural gas, and coal. Agricultural commodities like tea, coffee, and cotton also find large markets overseas.

Which nation is the U.S.'s largest trading partner in Africa?

The largest U.S.export markets in the region continued to include South Africa (50.9 percent), Nigeria (12.8 percent), Kenya (4.2 percent), Angola (4.0 percent), and Ghana (3.2 percent) (figure ES-3).

What country trades the most with Africa?

China remains Africa's largest trading partner by far in terms of total volume.

Who has invested the most in Africa?

China. China is the world's largest investor in Africa in terms of total capital.

Why is China investing heavily in Africa?

Chinese companies have invested in mining activities, particularly in copper, cobalt, gold, and iron ore, particularly in Congo, Zambia, and South Africa. Africa has approximately 90% of the entire global supply of platinum and cobalt, half of the world's gold, two-thirds of the manganese, and 35% of the uranium.

Who are China's allies in Africa?

Apart from some traditional allies such as Somalia and Tanzania, China also had military ties with non-aligned countries like Egypt. Military equipment worth $142 million was sold to African countries between 1955 and 1977.

What does China import the most from Africa?

The most imported goods by China from Sub Saharan Africa are fuels, accounting for 66.89%, followed by Minerals with 17.44%, at the third position, metals accounting for 7.11% of the Chinese imports from Sub Saharan Africa.

What is Africa's number 1 export?

Africa's exports

This map reflects this richness, with gold being the chief exported product in terms of value in 16 out of the 54 countries, followed by oil in eleven of them.

What does Africa produce the most?

Cacao Harvesting. Agriculture is the single most important economic activity in Africa, employing more than two-thirds of the continent's population. African nations are the world's largest exporters of cacao, the raw material used to make chocolate.

What does Africa import the most?

South Africa ($93.5 billion)

South Africa's main imports are machinery (23.5 per cent of total imports), mineral products (15.1 per cent), vehicles and aircraft vessels (10 per cent), chemicals (10.9 per cent), equipment components (8.1 per cent) and iron and steel products (5.3 per cent).

Who is USA's biggest trading partner?

Canada was the largest purchaser of U.S. goods exports in 2022, accounting for 17.3 percent of total U.S. goods exports. The top five purchasers of U.S. goods exports in 2022 were: Canada ($356.5 billion), Mexico ($324.3 billion), China ($150.4 billion), Japan ($80.2 billion), and the United Kingdom ($76.2 billion).

What is China doing in Africa?

China is now Africa's biggest trading partner, with Sino-African trade topping $200 billion per year. Over 10,000 Chinese firms are currently operating throughout the African continent, and the value of Chinese business there since 2005 amounts to more than $2 trillion, with $300 billion in current investments.

Who is the U.S. 2nd largest trading partner?

Who is Russia's largest trading partner?

Russia's leading five export partners in 2022 were China, Turkey, India, Italy, and Germany. The value of total exports from Russia to its major trade partner — China — exceeded 114 billion U.S. dollars in 2022.

How do most Africans make a living?

With 70 percent of Africans dependent on agriculture for livelihoods, the sector is critical to the economies of all African countries. As a sector, its growth is central to increasing prosperity, food security, industrialization, intra-African trade and to bolstering Africa's contribution to global trade.

Which country is no 1 in trade?

China. As per the world import export data, China is the world's largest trading nation, with a total import-export value of $4.6 trillion in 2020. China is known for its large-scale manufacturing industries and exports a wide range of products, including electronics, machinery, textiles, and chemicals.

Who controls the wealth in Africa?

Wealthiest countries in Africa 2021

South Africa concentrated the largest amount of private wealth in Africa as of 2021, some 651 billion U.S. dollars. Egypt, Nigeria, Morocco, and Kenya followed, establishing the five wealthier markets in the continent.

Who owns the most of Africa?

According to the land survey conducted by the African Development Bank, 64 percent of the total land area of Africa is owned by the state and other institutions, while 36 percent is privately owned.

What has China built in Africa?

The impact of those funds is felt across Africa, where residents in major cities like Lagos, Nairobi and Addis Ababa now transit daily via railways, highways and airports built in recent years with Chinese loans and often by Chinese construction firms.

What land does China own in the US?

China owns 384,000 acres of American agricultural land. That's a 30% increase just since 2019. And on top of that, they own land near an air force base in North Dakota.

How much money does Africa owe China?

Chinese lenders account for 12 per cent of Africa's private and public external debt, which increased more than fivefold to $696 billion from 2000 to 2020. China is a major creditor of many African nations, but its lending has fallen in recent years and is set to remain at lower levels.

How much land does China own in Africa?

The total area of Africa is approximately 1.2 billion acres, of which 71% is covered by land and 29% is covered by water. The total area of land that China owns in Africa is approximately 186,000 square miles (465,000 square kilometers). This is around 7% of the total land area in Africa.