Coronavirus: China-Africa trade down 14 per cent in first quarter to US$41 billion
Closure of factories and ports as part of efforts to battle Covid-19 sees China’s imports fall 17.5 per cent in January-March period, while exports drop by 10.5 per cent, customs agency says
Slump comes as no surprise and figures should improve once China’s industrial sector gets back on its feet, ‘probably in the second half of the year’, analyst says
Trade between China and Africa plummeted in the first quarter of the year, as the coronavirus piled extra pressure on the world’s second-largest economy, which continues to struggle with the impact of a punishing and drawn-out tariff war with the United States.
Two-way trade in the January-March period dropped 14 per cent year on year to US$41.23 billion as the closure of Chinese factories and ports in January and February – as part of a nationwide effort to contain the spread of Covid-19 – damaged both exports and imports, according to official figures from China’s General Administration of Customs.
China’s imports from Africa, mostly raw materials for industry, such as oil and metals, fell by 17.5 per cent in the quarter to US$19.8 billion, while exports dropped 10.5 per cent to US$21.4 billion.
https://www.scmp.com/news/china/diplomacy/article/3081016/coronavirus-china-africa-trade-down-14-cent-first-quarter-us41