Ghana /Adnan Adams Mohammed
As Chinese trade dominance grows in Africa, the Economist Intelligence Unit (EIU) has ranked Ghana as the fourth biggest importer from China.
Estimatedly, Ghana import in value was US$2.0 billion in 2021. This was 5% of total imports to Sub-Saharan Africa from China.
The Unit indicated that there are broad range of drivers that are likely to push more Chinese trade and investment toward Africa in the decade ahead. It said further that, African states and the Chinese government have lofty ambitions to push the level of their bilateral trade much higher and diversify trade further in the years ahead.
“African states and the Chinese government have lofty ambitions to push the level of their bilateral trade much higher and diversify trade further in the years ahead. China is actively seeking ways to consolidate its position as the largest single country trader with the continent in the medium and long term”, the latest EIU report captured.
China’s lending to Africa over the past two decades has largely targeted transport, power and mining projects and largely involved policy banks – including the Export-Import Bank of China and China Development Bank
Meanwhile, the imports ranged from Fast Moving Consumer Goods, electrical equipment, and construction materials. However, the country did not make it among the top African countries that export to China.
Nigeria was the biggest importer of China with a share of 16% of Africa’s imports from the Far East country.
It was followed by South Africa and Egypt in 2nd and 3rd positions respectively.
The top African exporters to China were however South Africa, Angola, and the Democratic Republic of Congo.
