Daily News  :: Southern Africa


China-Africa trade up 72%

Published: 03-AUG-06

Johannesburg – Africa’s trade with China grew by 72 percent in 2005, far quicker than the 30 percent growth registered with Europe, said Standard Chartered Bank on Wednesday.

Trade between China and Africa was worth $40bn, ten times higher than in 1995 said the bank.

Trade flourished after China scrapped import tariffs on 190 goods from 28 Africa countries.

Africa tends to ship raw materials to China, while the Asian giant sends back machinery and other hi-tech products. -BiA Online

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