Beijing has diversified its export routes amid the tariff war with the US, with high-value shipments to Africa growing by 25 per cent in the first eight months of this year.
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According to China’s General Administration of Customs, exports to Africa totalled US$140.8 billion (1 trillion yuan) and grew between two and four times as fast as those to other major regions, such as Europe, Asia and Latin America.
Meanwhile, shipments to the US fell by 15.5 per cent in the period, as Beijing moved to diversify and divert its trade in response to new US tariffs. The US imposed tariffs of up to 100 per cent on electric vehicles and 50 per cent on solar cells, forcing Chinese firms to turn to emerging markets like Africa.
China-Africa specialist Lauren Johnston, a senior research fellow at the Melbourne-based think tank the AustChina Institute, said that soaring Chinese exports to Africa were a result of pressures elsewhere, especially following China’s tariff wars with the US.
“Tariffs to the US must be biting,” she said, adding that production might not be slowing proportionately.
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Johnston said China was exporting its new growth areas, such as green transport, construction machinery and agricultural trade.