China is investing heavily to strengthen its position in Africa. According to international reports, China aims to overtake the European Union to become Africa’s largest trading partner by 2030. China’s investments and trade volume with Africa are increasing significantly.
China’s trade volume with Africa increased by 35 percent to 254 billion dollars in 2021. Exports from Africa reached 106 billion dollars, a record high. China’s trade volume with Africa increased by 11 percent last year to $282 billion.
As China’s largest trading partner, South Africa reached a trade volume of 56.74 billion dollars in 2022. Chinese companies’ investment in Africa in 2020-2021 was about 53.5 billion dollars.
China’s investments in Africa include construction, mining, transportation and
energy fields. Revenue from infrastructure projects in Africa reached over $24 billion in 2020.
China meets 25 percent of Africa’s energy needs and plays an important role in the construction of large dams in the region. Countries such as Sudan, Zambia, Ethiopia and the Democratic Republic of Congo have hydroelectric dams financed by China.
China’s investments and trade in Africa are expanding day by day. With the increasing economic cooperation between China and Africa, the 2024 China-Africa Economic and Trade Expo (CAETE) was held in Nairobi, the capital of Kenya. This fair is considered as an important step for Chinese enterprises to increase business opportunities in Africa and contribute to the development of trade between the two sides.
