The volume of trade between China and Africa reached US$166.3 billion in 2011, the Chinese Ministry of Trade said in a statement released in Dakar on Monday by the Chinese Embassy.
With an increase of 83 per cent compared to 2009, these exchanges have reached a record high, as China continues to position Africa’s as its first trading partner, the statement added.
“With the development of Sino-African trade, Chinese products are increasingly appreciated by the people of Africa, while Chinese consumers find on their domestic market products originating from Africa,” the statement said.
In terms of investment, the Chinese stock in Africa amounted to US$14.7 billion in late 2011, the Ministry of Trade added.
Similarly, Africa has become the second largest overseas market for China with Chinese companies making a turnover of US$ 36.1 billion on the continent.
According to the statement, this turnover accounts for 30 per cent of the total sales made by Chinese companies abroad.