China-Africa Trade Increases by 5% in 2024
Based on data released by the General Administration of Customs of China (GACC) at the beginning of 2025, Africa-China trade volume reached USD 297 billion in 2024, representing a 5% growth year-on-year. In 2022 and 2023, trade volume remained more or less the same at USD 282 billion.
| No. | YEAR | USD M | % Change |
|---|---|---|---|
| 1 | 2024 | 296 | +5% |
| 2 | 2023 | 282 | +1% |
| 3 | 2022 | 282 | +11% |
| 4 | 2021 | 254 | +36% |
| 5 | 2020 | 187 | COVID |
(2021 reflects rebound after COVID)
South Africa, Nigeria, Angola, DR Congo and Egypt are among the top African trade partners of China. However, South Africa registered an unexpected decrease in bilateral trade volume in 2024.
From China’s side, the provinces of Zhejiang, Guangdong, Shandong, Jiangsu and Hunan are among the top trading partners with Africa. China imports mostly minerals, petroleum and agricultural produce from Africa, but exports mostly manufactured goods to Africa.
On the investment front, China reports that its #ODI into Africa reached USD 40 billion in 2023. In line with current trend, the investment projects focusing onthe mining, agricultural and renewable energy sectors.
China is the largest trading partner of most of the African countries but the AU ranks as the 3rd largest trading bloc with China, behind ASEAN and EU. In 2024, China registered a trade surplus of nearly USD one trillion with the rest of the world in 2024 with imports of USD three trillion and exports of 4 trillion.