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BBC Chinese: African Exports to China Declined by 40 Percent

BBC Chinese recently reported that, according to official data that Chinese Customs just released, total exports from Africa to China declined by around 40 percent in 2015. China is Africa’s largest trade partner. In recent years, China’s demand for Africa’s resources greatly pushed the African economy forward. However, the obvious slow-down of the Chinese economy directly caused the significant decline in African exports to China. Many African currencies devalued in the past year due to heavy economic pressure. In the meantime, China’s investment in Africa has been shrinking too. In the first half of 2015, China’s direct investment in Africa saw a 40 percent drop, year-over-year. However, statistics showed African demand for Chinese goods is increasing. Chinese exports to Africa in 2015 reached US$102 billion, which represents an increase of 3.6 percent. 
Source: BBC Chinese, January 13, 2016