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Africa becomes Yiwu's biggest foreign market

chinadaily.com.cn| Updated :2023-02-22

Yiwu, a county-level city in Zhejiang province with the world's largest small commodities market, has been exporting hundreds of containers daily to the African continent, making it one of the most significant logistics hubs for Yiwu's exports.

Official statistics showed that Yiwu's trade with Africa grew by 10.2 percent yearly, reaching 84.02 billion yuan ($12.18 billion) in 2022. This amount was more than that of other regions, including the Middle East, Europe, and South America, making Africa the largest foreign market for Yiwu's foreign trade.

For the past three years, despite the COVID-19 pandemic, Yiwu has maintained nearly 2,000 African customers, contributing significantly to trade exchanges between Zhejiang and Africa.

Officials from the Yiwu foreign affairs office noted that many African businessmen have visited Yiwu to look for business opportunities over the years.

Many of them started their businesses by purchasing small commodities from Yiwu and establishing their own foreign trade companies in the city. Some of the representatives of these success stories include Dejene and Kode from Ethiopia, Makong from Uganda, Jiangbu from Rwanda, and Vicky from Madagascar. They have built a bridge between Yiwu and Africa.

Vicky, who has been in Yiwu for 14 years, is a successful African importer. She explained that she came to Yiwu in 2009 from Madagascar and was immediately drawn to the vibrant and dynamic city. Yiwu was already the world's largest small commodity distribution center at the time. Its affordable price and excellent global logistics channels have continued to entice more and more African businessmen to establish careers and families in Yiwu.

As an importer in Yiwu, Vicky has become proficient in Chinese and has gained expertise in the local market. Vicky believes that she is among the many foreign businessmen who have benefited from Yiwu's rapid market growth.