China-Africa Trade Hit $296 Billion in 2024, Strengthening Ties with Africa

Trade between China and Africa reached a record $296 billion in 2024, marking a 5% increase from the previous year, according to data from China’s General Administration of Customs. This growth underscores China’s position as Africa’s largest trading partner for the 15th consecutive year and has helped in navigating the current turbulance caused by US Tarrifs. Chinese and African Union (AU) officials confirmed this in Addis Ababa on 17 April 2025.

On the other hand, South Africa maintained its status as China’s top African trading partner, with bilateral trade totalling $52.5 billion in 2024. Although this figure represents a 5.6% decrease from 2023, the partnership remains robust, bolstered by strategic initiatives and high-level engagements. In September 2024, during President Cyril Ramaphosa’s state visit to Beijing, both nations elevated their relationship to an “All-Round Strategic Cooperative Partnership in the New Era,” focusing on balanced trade and accelerated economic growth.

China’s commitment to Africa extends beyond trade volumes. In December 2024, China abolished tariffs on imports from 33 African countries, including least-developed nations, to promote equitable trade. This policy aligns with China’s broader strategy to support the Global South, as emphasized by President Xi Jinping at the G20 summit in November 2024. There, he announced initiatives to enhance scientific and technological cooperation with developing countries, including South Africa.

Chinese investments in South Africa have also seen substantial growth, particularly in infrastructure, energy, and manufacturing sectors. As of 2023, China’s foreign direct investment stock in South Africa reached approximately $5.84 billion, with cumulative investments exceeding $10 billion. Notably, Chinese firms are actively involved in upgrading South Africa’s railways, ports, and highways, improving trade connectivity and boosting logistics efficiency.

The Forum on China-Africa Cooperation (FOCAC) continues to be a pivotal platform for deepening ties. At the 2024 summit in Beijing, leaders from both regions discussed strategies to enhance cooperation in various sectors, including agriculture, health, and digital economy. And this was not mere talk as projects can be seen on the ground. These discussions aim to foster mutual growth and address challenges such as trade imbalances and debt sustainability.

As global economic dynamics evolve, the China-Africa partnership, particularly with key players like South Africa, is poised to play a significant role in shaping a more inclusive and equitable international trade landscape.