Sino-African trade booms amid crisis

By Li Jiabao ( China Daily ) Updated: 2012-07-18 08:03:31

China's trade with Africa in the first half of this year expanded much faster than the nation's foreign trade overall, which has helped to compensate for the slowdown in trade with the European Union and other regions affected by the economic crisis, according to the Ministry of Commerce.

Trade between China and Africa surged by 22.3 percent year-on-year in the first five months to $80.5 billion, said Wu Fang, a researcher at the Chinese Academy of International Trade and Economic Cooperation under the Ministry of Commerce.

China's imports from Africa rose by 25.5 percent to $49.6 billion during the same period, while its exports to Africa grew by 17.5 percent to reach $30.9 billion, she said.

Sino-African trade booms amid crisis

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