This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at http://www.bbc.co.uk/news/world-africa-35303981
The article has changed 2 times. There is an RSS feed of changes available.
Previous version
1
Next version
Version 0 | Version 1 |
---|---|
Africa-China exports fall by 40% after China slowdown | Africa-China exports fall by 40% after China slowdown |
(about 20 hours later) | |
African exports to China fell by almost 40% in 2015, China's customs office says. | African exports to China fell by almost 40% in 2015, China's customs office says. |
China is Africa's biggest single trading partner and its demand for African commodities has fuelled the continent's recent economic growth. | China is Africa's biggest single trading partner and its demand for African commodities has fuelled the continent's recent economic growth. |
The decline in exports reflects the recent slowdown in China's economy. | The decline in exports reflects the recent slowdown in China's economy. |
This has, in turn, put African economies under pressure and in part accounts for the falling value of many African currencies. | This has, in turn, put African economies under pressure and in part accounts for the falling value of many African currencies. |
Is China a brake on Africa's progress? | Is China a brake on Africa's progress? |
Special report: China in Africa | Special report: China in Africa |
Africa's economic prospects in 2016: Looking for silver linings | |
Presenting China's trade figures for last year, customs spokesman Huang Songping told journalists that African exports to China totalled $67bn (£46.3bn), which was 38% down on the figure for 2014. | Presenting China's trade figures for last year, customs spokesman Huang Songping told journalists that African exports to China totalled $67bn (£46.3bn), which was 38% down on the figure for 2014. |
BBC Africa Business Report editor Matthew Davies says that as China's economy heads for what many analysts say will be a hard landing, its need for African oil, metals and minerals has fallen rapidly, taking commodity prices lower. | BBC Africa Business Report editor Matthew Davies says that as China's economy heads for what many analysts say will be a hard landing, its need for African oil, metals and minerals has fallen rapidly, taking commodity prices lower. |
Chinese investment down | Chinese investment down |
There is also less money coming from China to Africa, with direct investment from China into the continent falling by 40% in the first six months of 2015, he says. | There is also less money coming from China to Africa, with direct investment from China into the continent falling by 40% in the first six months of 2015, he says. |
Meanwhile, Africa's demand for Chinese goods is rising. | Meanwhile, Africa's demand for Chinese goods is rising. |
In 2015 China sent $102bn worth of goods to the continent, an increase of 3.6%. | In 2015 China sent $102bn worth of goods to the continent, an increase of 3.6%. |
Last year, South Africa hosted a China-Africa summit during which President Xi Jinping announced $60bn of aid and loans, symbolising the country's growing role on the continent. | Last year, South Africa hosted a China-Africa summit during which President Xi Jinping announced $60bn of aid and loans, symbolising the country's growing role on the continent. |
Previous version
1
Next version