Africa-Press – South-Sudan. <\/strong><\/span>China\u2019s imports from Africa rose by 14 per cent year on year to reach US$60.15 billion in the first half of 2024, according to the latest Chinese customs data.<\/p>\nDuring the same period, however, Chinese exports to the continent fell marginally by 2.3 per cent to US$84.85 billion, figures from the General Administration of Customs showed. Over the six months, total China-Africa trade grew by 3.9 per cent year on year to US$145 billion.<\/p>\n
Observers attributed the boost in imports from Africa to the increased production of minerals, rising commodity prices and the depreciation of key African currencies. But, they said, while a shrinking trade deficit was good news for Africa, it was not likely to last.<\/p>\n
Resource-rich African countries have seen heavy investment from Chinese companies as they ramp up mineral production amid the global push for green energy. One such country is Zimbabwe, a major source of lithium, which has had an influx of billions of dollars worth of investments and acquisitions from China in the Asian giant\u2019s push to dominate the lithium-ion battery market.<\/p>\n
Similarly, the Democratic Republic of the Congo (DRC), which is the world\u2019s largest producer of cobalt and a major source of copper, remains a major source of materials for China\u2019s electric vehicle battery industry. China also imports minerals such as bauxite from Guinea and oil from Nigeria, Angola, Gabon and Ghana.<\/p>\n
China\u2019s largest trading partner in Africa is South Africa. In the first half of the year, the value of that trade hit US$27.5 billion, according to Chinese customs data.<\/p>\n
During that period, imports from South Africa rose 10.7 per cent to US$17.29 billion year on year, but Chinese exports to the African nation fell 18.6 per cent to US$10.2 billion.South Africa\u2019s exports to China are mainly minerals and metals, but more recently China has started buying products such as soybeans, wine, rooibos tea, aloe vera gel and citrus fruits.<\/p>\n
Later this year, avocados will join that list after the two countries signed a deal at the Brics summit in Johannesburg last year.<\/p>\n
\u201cChina stands ready to speed up the process so that avocados from South Africa will be enjoyed by the Chinese people as soon as possible,\u201d Chinese ambassador to South Africa Wu Peng wrote on X on Wednesday.<\/p>\n
The deal comes amid Beijing\u2019s plan to diversity its food and agricultural trade and reduce its dependencies on countries like the US and Australia. China is importing more food products from Africa as a result \u2013 avocados from Kenya and Tanzania, fruit from South Africa and Zimbabwe, coffee from Ethiopia and chillies from Rwanda. It has signed trade deals with dozens of African countries, waiving tariffs on 98 per cent of the taxable items originating from those nations.<\/p>\n
China\u2019s trade with Africa appeared to buck the general trend, with China recording an overall increase in exports. In June, exports grew at their fastest in over a year, rising 8.6 per cent that month, while imports shrank 2.3 per cent to hit a four-month low in June, amid a weak domestic demand caused by the property crisis and slowing economy.<\/p>\n
Regarding the African exports to China, Mark Bohlund, a senior credit research analyst at REDD Intelligence, said higher copper prices are one factor in the increased figures.<\/p>\n
\u201cHigher production volumes are also playing a part,\u201d he said.<\/p>\n
\u201cThe depreciation of the Nigerian naira, and to a lesser extent, the South African rand and Kenyan shilling, have likely played in to reduce Chinese exports given that these are the largest markets in sub-Saharan Africa.\u201d<\/p>\n
But, he said, African exports to China would probably weaken somewhat in the second half of the year, mainly due to lower copper exports.<\/p>\n
While copper prices slumped as a result of the coronavirus pandemic and the slowdown in the Chinese economy, the price recently rallied to reach an all-time high in May of about US$10,900 per tonne, breaking its previous record of US$10,845 per tonne in March 2022. The price has dipped a little since May\u2019s record high but remains strong at more than US$9,500 per tonne.<\/p>\n
\u201cI expect growth in Chinese exports to Africa to remain relatively weak as growth in Nigeria and South Africa is likely to remain weak in the near term,\u201d Bohlund added.<\/p>\n
Charlie Robertson, head of macro strategy at asset management firm FIM Partners, said Chinese exports to Africa may have dropped because of the big currency devaluations in Egypt, Nigeria and Ghana, foreign currency restrictions in Ethiopia, and austerity measures in Kenya and other countries.<\/p>\n
For Africa to service its debt to China, he said it needed a trade surplus, not a trade deficit.<\/p>\n
\u201cHow else can Africa earn the dollars it needs to repay China?\u201d Robertson said. \u201cA shrinking trade deficit is heading in the right direction, but really we want to see the opposite of the export and import totals in China and Africa\u2019s trade.\u201d<\/p>\n
Unfortunately, he said, China prioritised its own profit from Africa at every level of engagement \u2013 in its exports to Africa, lending to Africa, and by making a requirement of those loans the use of Chinese companies to build infrastructure and supply goods.<\/p>\n
\u201cAs China\u2019s big priority right now is exporting its way out of its domestic property slump, I would expect it to try to boost exports to Africa over the coming year,\u201d Robertson said.<\/p>\n
For More News And Analysis About South-Sudan Follow Africa-Press<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"Jevans Nyabiage Africa-Press – South-Sudan. China\u2019s imports from Africa rose by 14 per cent year on year to reach US$60.15 billion in the first half of 2024, according to the latest Chinese customs data. During the same period, however, Chinese exports to the continent fell marginally by 2.3 per cent to US$84.85 billion, figures from […]<\/p>\n","protected":false},"author":84,"featured_media":62211,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[233],"class_list":["post-62212","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-south-sudan"],"yoast_head":"\n
Africa\u2019s trade deficit shrinks as exports to China surge \u2013 but experts say it won\u2019t last - South Sudan<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/africas-trade-deficit-shrinks-as-exports-to-china-surge-but-experts-say-it-wont-last\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Africa\u2019s trade deficit shrinks as exports to China surge \u2013 but experts say it won\u2019t last\" \/>\n<meta property=\"og:description\" content=\"Jevans Nyabiage Africa-Press – South-Sudan. China\u2019s imports from Africa rose by 14 per cent year on year to reach US$60.15 billion in the first half of 2024, according to the latest Chinese customs data. During the same period, however, Chinese exports to the continent fell marginally by 2.3 per cent to US$84.85 billion, figures from […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/africas-trade-deficit-shrinks-as-exports-to-china-surge-but-experts-say-it-wont-last\" \/>\n<meta property=\"og:site_name\" content=\"South Sudan\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2024-07-21T11:55:41+00:00\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/africas-trade-deficit-shrinks-as-exports-to-china-surge-but-experts-say-it-wont-last#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/africas-trade-deficit-shrinks-as-exports-to-china-surge-but-experts-say-it-wont-last\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/south-sudan\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Africa\u2019s trade deficit shrinks as exports to China surge \u2013 but experts say it won\u2019t last\",\"datePublished\":\"2024-07-21T11:55:41+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/africas-trade-deficit-shrinks-as-exports-to-china-surge-but-experts-say-it-wont-last\"},\"wordCount\":920,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/africas-trade-deficit-shrinks-as-exports-to-china-surge-but-experts-say-it-wont-last#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/south-sudan\/sites\/32\/2024\/07\/sm_1721550779.753421.jpg\",\"keywords\":[\"South-Sudan\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/africas-trade-deficit-shrinks-as-exports-to-china-surge-but-experts-say-it-wont-last#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/africas-trade-deficit-shrinks-as-exports-to-china-surge-but-experts-say-it-wont-last\",\"url\":\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/africas-trade-deficit-shrinks-as-exports-to-china-surge-but-experts-say-it-wont-last\",\"name\":\"Africa\u2019s trade deficit shrinks as exports to China surge \u2013 but experts say it won\u2019t last - South Sudan\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/south-sudan\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/africas-trade-deficit-shrinks-as-exports-to-china-surge-but-experts-say-it-wont-last#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/africas-trade-deficit-shrinks-as-exports-to-china-surge-but-experts-say-it-wont-last#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/south-sudan\/sites\/32\/2024\/07\/sm_1721550779.753421.jpg\",\"datePublished\":\"2024-07-21T11:55:41+00:00\",\"author\":{\"@id\":\"https:\/\/www.africa-press.net\/south-sudan\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/africas-trade-deficit-shrinks-as-exports-to-china-surge-but-experts-say-it-wont-last#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/africas-trade-deficit-shrinks-as-exports-to-china-surge-but-experts-say-it-wont-last\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/africas-trade-deficit-shrinks-as-exports-to-china-surge-but-experts-say-it-wont-last#primaryimage\",\"url\":\"https:\/\/static.africa-press.net\/south-sudan\/sites\/32\/2024\/07\/sm_1721550779.753421.jpg\",\"contentUrl\":\"https:\/\/static.africa-press.net\/south-sudan\/sites\/32\/2024\/07\/sm_1721550779.753421.jpg\",\"width\":768,\"height\":768,\"caption\":\"Africa\u2019s trade deficit shrinks as exports to China surge \u2013 but experts say it won\u2019t last\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/africas-trade-deficit-shrinks-as-exports-to-china-surge-but-experts-say-it-wont-last#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.africa-press.net\/south-sudan\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Africa\u2019s trade deficit shrinks as exports to China surge \u2013 but experts say it won\u2019t last\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.africa-press.net\/south-sudan\/#website\",\"url\":\"https:\/\/www.africa-press.net\/south-sudan\/\",\"name\":\"South Sudan\",\"description\":\"Just another Africa News Agency Sites site\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.africa-press.net\/south-sudan\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.africa-press.net\/south-sudan\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\",\"name\":\"cfeditoren\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.africa-press.net\/south-sudan\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g\",\"caption\":\"cfeditoren\"}}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Africa\u2019s trade deficit shrinks as exports to China surge \u2013 but experts say it won\u2019t last - South Sudan","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.africa-press.net\/south-sudan\/all-news\/africas-trade-deficit-shrinks-as-exports-to-china-surge-but-experts-say-it-wont-last","og_locale":"en_US","og_type":"article","og_title":"Africa\u2019s trade deficit shrinks as exports to China surge \u2013 but experts say it won\u2019t last","og_description":"Jevans Nyabiage Africa-Press – South-Sudan. China\u2019s imports from Africa rose by 14 per cent year on year to reach US$60.15 billion in the first half of 2024, according to the latest Chinese customs data. During the same period, however, Chinese exports to the continent fell marginally by 2.3 per cent to US$84.85 billion, figures from […]","og_url":"https:\/\/www.africa-press.net\/south-sudan\/all-news\/africas-trade-deficit-shrinks-as-exports-to-china-surge-but-experts-say-it-wont-last","og_site_name":"South Sudan","article_publisher":"https:\/\/www.facebook.com\/AfricaPressTunisiaa","article_published_time":"2024-07-21T11:55:41+00:00","author":"cfeditoren","twitter_card":"summary_large_image","twitter_misc":{"Written by":"cfeditoren","Est. reading time":"5 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.africa-press.net\/south-sudan\/all-news\/africas-trade-deficit-shrinks-as-exports-to-china-surge-but-experts-say-it-wont-last#article","isPartOf":{"@id":"https:\/\/www.africa-press.net\/south-sudan\/all-news\/africas-trade-deficit-shrinks-as-exports-to-china-surge-but-experts-say-it-wont-last"},"author":{"name":"cfeditoren","@id":"https:\/\/www.africa-press.net\/south-sudan\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb"},"headline":"Africa\u2019s trade deficit shrinks as exports to China surge \u2013 but experts say it won\u2019t last","datePublished":"2024-07-21T11:55:41+00:00","mainEntityOfPage":{"@id":"https:\/\/www.africa-press.net\/south-sudan\/all-news\/africas-trade-deficit-shrinks-as-exports-to-china-surge-but-experts-say-it-wont-last"},"wordCount":920,"commentCount":0,"image":{"@id":"https:\/\/www.africa-press.net\/south-sudan\/all-news\/africas-trade-deficit-shrinks-as-exports-to-china-surge-but-experts-say-it-wont-last#primaryimage"},"thumbnailUrl":"https:\/\/static.africa-press.net\/south-sudan\/sites\/32\/2024\/07\/sm_1721550779.753421.jpg","keywords":["South-Sudan"],"articleSection":["all news","economy"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.africa-press.net\/south-sudan\/all-news\/africas-trade-deficit-shrinks-as-exports-to-china-surge-but-experts-say-it-wont-last#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.africa-press.net\/south-sudan\/all-news\/africas-trade-deficit-shrinks-as-exports-to-china-surge-but-experts-say-it-wont-last","url":"https:\/\/www.africa-press.net\/south-sudan\/all-news\/africas-trade-deficit-shrinks-as-exports-to-china-surge-but-experts-say-it-wont-last","name":"Africa\u2019s trade deficit shrinks as exports to China surge \u2013 but experts say it won\u2019t last - South Sudan","isPartOf":{"@id":"https:\/\/www.africa-press.net\/south-sudan\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.africa-press.net\/south-sudan\/all-news\/africas-trade-deficit-shrinks-as-exports-to-china-surge-but-experts-say-it-wont-last#primaryimage"},"image":{"@id":"https:\/\/www.africa-press.net\/south-sudan\/all-news\/africas-trade-deficit-shrinks-as-exports-to-china-surge-but-experts-say-it-wont-last#primaryimage"},"thumbnailUrl":"https:\/\/static.africa-press.net\/south-sudan\/sites\/32\/2024\/07\/sm_1721550779.753421.jpg","datePublished":"2024-07-21T11:55:41+00:00","author":{"@id":"https:\/\/www.africa-press.net\/south-sudan\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb"},"breadcrumb":{"@id":"https:\/\/www.africa-press.net\/south-sudan\/all-news\/africas-trade-deficit-shrinks-as-exports-to-china-surge-but-experts-say-it-wont-last#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.africa-press.net\/south-sudan\/all-news\/africas-trade-deficit-shrinks-as-exports-to-china-surge-but-experts-say-it-wont-last"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.africa-press.net\/south-sudan\/all-news\/africas-trade-deficit-shrinks-as-exports-to-china-surge-but-experts-say-it-wont-last#primaryimage","url":"https:\/\/static.africa-press.net\/south-sudan\/sites\/32\/2024\/07\/sm_1721550779.753421.jpg","contentUrl":"https:\/\/static.africa-press.net\/south-sudan\/sites\/32\/2024\/07\/sm_1721550779.753421.jpg","width":768,"height":768,"caption":"Africa\u2019s trade deficit shrinks as exports to China surge \u2013 but experts say it won\u2019t last"},{"@type":"BreadcrumbList","@id":"https:\/\/www.africa-press.net\/south-sudan\/all-news\/africas-trade-deficit-shrinks-as-exports-to-china-surge-but-experts-say-it-wont-last#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.africa-press.net\/south-sudan\/"},{"@type":"ListItem","position":2,"name":"Africa\u2019s trade deficit shrinks as exports to China surge \u2013 but experts say it won\u2019t last"}]},{"@type":"WebSite","@id":"https:\/\/www.africa-press.net\/south-sudan\/#website","url":"https:\/\/www.africa-press.net\/south-sudan\/","name":"South Sudan","description":"Just another Africa News Agency Sites site","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.africa-press.net\/south-sudan\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.africa-press.net\/south-sudan\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb","name":"cfeditoren","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.africa-press.net\/south-sudan\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g","caption":"cfeditoren"}}]}},"_links":{"self":[{"href":"https:\/\/www.africa-press.net\/south-sudan\/wp-json\/wp\/v2\/posts\/62212","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.africa-press.net\/south-sudan\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.africa-press.net\/south-sudan\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/south-sudan\/wp-json\/wp\/v2\/users\/84"}],"replies":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/south-sudan\/wp-json\/wp\/v2\/comments?post=62212"}],"version-history":[{"count":0,"href":"https:\/\/www.africa-press.net\/south-sudan\/wp-json\/wp\/v2\/posts\/62212\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/south-sudan\/wp-json\/wp\/v2\/media\/62211"}],"wp:attachment":[{"href":"https:\/\/www.africa-press.net\/south-sudan\/wp-json\/wp\/v2\/media?parent=62212"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.africa-press.net\/south-sudan\/wp-json\/wp\/v2\/categories?post=62212"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.africa-press.net\/south-sudan\/wp-json\/wp\/v2\/tags?post=62212"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}