Bole Medhanealem,
In front of Kebe Cake Rehobot Apartment Building 1st Floor
Addis Ababa, Ethiopia
P.O.Box 25378/1000
Trade between China and Africa reached an all-time high of 282 billion dollars this year, as the modern China-Africa relationship nears 70 years old. The figure reflects a rise of 11pc from the previous year, which was also a record back then.
Imports from the most populous nation accounted for nearly 60pc of the trade volume, which amounts to 164 billion dollars, while exports earned 117 billion dollars. China has significant comparative advantages in most African countries with almost all products except primary commodities, such as oil seeds and coffee. Nigeria, South Africa and Egypt are the three most significant trading partners of China within the continent.
Ethiopia primarily exports oil seeds, flowers, coffee, and meat to China while it imports nearly everything from the world's second-biggest economy. In the past five months, 1.5 billion dollars had been earned from the export sector. Oil seeds account for 72 million dollars, while crops and khat earned 74.6 million and 116.5 million dollars, respectively, with coffee and gold accounting for the rest. Data from the National bank of Ethiopia reveals exports to Europe, which account for 38pc, is the major market for Ethiopian commodities.
Source: Addis Foutune
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