8 Facts about China's Investments in Africa

8 Facts about China's Investments in Africa
Fred Dews | May 20, 2014 1:53pm
Below are selected data from her paper "Africa in China's Foreign Policy."

1) By the end of 2009, 45.7 percent of China's cumulative foreign aid of ¥256.29 billion had been given to countries in Africa.

2) China is Africa's largest TRADING partner, surpassing the United States in 2009.

3) In 2012, China's trade with Africa reached $198.5 billion, while U.S.-African trade in 2012 was $99.8 billion.

4) China's trade with Africa is only 5 percent of its GLOBAL TRADE total.

5) More than 80 percent of China's $93.2 billion in imports from Africa in 2011 were crude oil, raw materials and resources.

6) In 2011, China's INVESTMENT in Africa was 4.3 percent of its global total (Asia represented 60.9 percent, Latin America 16 percent, and Europe 11.1 percent).

7) In 2012, the China Development BANK agreed to provide $3 billion in LOANS to Ghana, which was almost 10 percent of Ghana's GDP.

8) South Africa is China's largest trading partner in Africa, at a volume of $20.2 billion. Yet this is 4 percent of China's trade with the European Union.

"[O]verall," writes Sun, "Africa's strategic importance for Beijing remains low." In the years to come, China's engagement with Africa is expected to grow.