Three Largest African Trading Partners

 African markets attracts plenty investors and it is the reason why the Chinese government is offering countless diverse countries commercial loans for infrastructural development. The list of Africa trading partners proceeds with the United States, Germany, United Kingdom, India, as well as Saudi Arabia, among other countries. Read on to get a gist of top three African trading partners:

China

Chinese companies are all over Africa and more than 10,000 are operating in the continent according to a McKinsey study report. The Chinese –Africa trade is not just the import and export based, but the Chinese government is offering commercial loans for infrastructural development worth billions of dollars, with the investment amounting to over U.S $200billion. In Angola, Chinese invested in construction of local infrastructure in exchange for oil, and it is trend where they build hospitals, railways, among other infrastructural projects. Aside from infrastructural development, trade between China and Africa has been seamless, and it is easier to import and export goods between the two countries than before. 

U.S.A.

The United States have been a major African trading partner, offering  opportunities for growth in the continent inform of foreign aid in healthcare and education . The value of their investment in 2007 amounted to $32.61billion and $70 billion in 2014 respectively. For many years, America has been providing loans to fuel economic growth and development in the region. It imports goods from Africa: cocoa, butter, pineapple, petroleum, cotton, pyrethrum, tea, and coffee, etc.  Exports from the United States are mobile technologies, machinery, metals, minerals, and expertise.  Thanks to the AGOA( Africa Growth Opportunity Act) for providing opportunities to trade between Africa and the United States with countries as Uganda and Lesotho increasing their value of textile exports, and others diversifying into production of agricultural products of higher value.

United Kingdom

United Kingdom has had a lasting trade relationship with Africa during colonial and post-colonial period.  Africa exports to the United Kingdom are primarily manufactured agricultural good: tea, coffee, pyrethrum, minerals, and horticultural products etc.  Consequently, they import machinery, gold, finished products, etc.  With the Chinese autonomous investment in Africa, there has been recent changes in investment and trade relation between the Africa and the United Kingdom with the latter experiencing a deficit in trade. 

In conclusion, Africa depends on trade and ties with the western countries for economic development and growth. China has massively invested into Africa, even despite the fact that the trade is not foreign aid based, but mutually beneficial. Nonetheless, the more trading partners Africa gets, the better chances it stand to experience a rapid rate of economic growth and development. While the United States provide foreign aid to boast the health, education sector and promote trade in the region, the Chinese venture into infrastructural development, which is a good thing for the continent.

By Samson Ogaye

Africa Global News Publication