China-Africa Trade Volume on Track to Reach $420B for 2026
On 14 October, China Customs (GACC) released its trade data for 3Q26. The trade volume between China and Africa for the first nine months of 2026 reached nearly USD 300 billion, representing 22.3% year-on-year growth and beating expectations. China’s exports for that period amounted to USD 203 billion, while imports reached USD 109 billion.
Thus, the trade balance of USD 94 billion remains firmly in favor of China, despite imports (22.3%) growing faster than exports (16.4%). The much-touted zero-tariff policy has given a boost to African exports to China, but is far from sufficient to close the trade deficit.
From a regional perspective, ASEAN holds the lead behind the EU. Trade with the US has slowed significantly due to #tariffs. Despite facing threats, China’s trade with EU does not seem to have suffered much. The #GlobalSouth appears to represent promising new markets for China’s exports.
| No. | Regional Bloc | Trade Vol USD B | YoY %Chg |
|---|---|---|---|
| 1 | ASEAN | 994 | +23.9 |
| 2 | EU | 694 | +22.7 |
| 3 | LAC | 483 | +19.2 |
| 4 | USA | 463 | +8.4 |
| 5 | AU | 312 | +22.3 |
A product category analysis based on HSCODE reveals certain key drivers of the trade. Upon close examination, semiconductor chips, robotics, electric vehicles, lithium batteries, and wind power equipment displayed outstanding growth.
Based on the data available, the China-Africa trade volume would probably exceed the USD 400 billion mark, and even reach USD 420 billion by the end of 2026. The AU #industrialization policy still has a long way to go, as Africa mainly exports unprocessed commodities, while China exports manufactured products.