China fast becoming Africa’s number one import partner

THE PACE of trade growth between China and
Africa is likely to continue for the next 10-20 years,
with China fast becoming SA’s number one import
partner.
That’s the view of Safmarine’s Africa region
executive Alan Jones who estimates that volumes
between Asia and Africa are growing two to three
times faster than between Africa and Europe and
North America.
He believes the global container trade will
continue to grow at around 10% per annum and
that much of this growth is likely to come from Asia
and Africa.
“Safmarine has witnessed strong growth in the
Greater China Area in recent years. For example,
during 2004-2005, we more than doubled our
export volumes from the region, and doubled
imports into China.”
And Jones points out that the strength of China’s
trade with Africa is not limited to South Africa.
“Volumes between China and West and East Africa
are equally strong,” he says.
“For example, container volumes carried by
Safmarine between China and West and East Africa
have doubled in the past two years and countries
such as Nigeria, Angola, South Africa and Tanzania
in East Africa have been at the forefront of this
increased trade.”
China is growing at an average rate of close to
10% GDP per annum and Safmarine provides a
total of 35 shipping services between the Far East
and Africa.
“But while Safmarine China, with its combined
export and import volume, is one of Safmarine’s
top three single markets, Africa as a whole remains
Safmarine’s core focus.
“The majority of Safmarine’s business is still to
and from Southern, West and East Africa.”