From 2018 to 2023, Hunan's trade with Africa increased from 18.18 billion CNY to 55.73 billion CNY, with an average annual growth rate of 25.1%, according to data from the Changsha Customs Authority on September 2. The foreign trade growth was attributed to important platforms such as the China-Africa Economic and Trade Expo and the Pioneering Zone for In-depth China-Africa Economic and Trade Cooperation. The combined import and export volume between Hunan and Africa in the past six years totaled 219.46 billion CNY. In the first seven months this year, trade between Hunan and Africa reached 30.53 billion CNY, maintaining the top position in central and western China.

Hunan has established trade ties with nearly all countries and regions in Africa. Hunan's top five trading partners are South Africa, Nigeria, Egypt, the Democratic Republic of Congo, and Algeria. From 2018 to 2023, Hunan's trade with the five countries hit 75.5 billion CNY, 25.96 billion CNY, 13.52 billion CNY, 13.22 billion CNY, and 8.87 billion CNY respectively. The combined trade volume between Hunan and the five countries accounted for 62.5% of Hunan's total import and export value with Africa over the same period. 

Enterprises are highly enthusiastic about doing business with Africa. From 2018 to 2023, a total of 6,991 firms in Hunan have actual foreign trade performance with Africa. During the January-July period, there were four Hunan foreign trade firms each with a market value of over one billion CNY and 50 ones each with a market value of more than 100 million CNY.

Hunan's exports to Africa are mainly mechanical and electrical products and labor-intensive products, and the proportion of exported high-tech products has increased. From 2018 to 2023, Hunan exported a total of 52.64 billion CNY of electrical equipment, household appliances, mobile phones and other mechanical and electrical products to Africa, and 44.9 billion CNY of textiles and garments, furniture, bags and other products. From 2019 to 2023, the value of Hunan's exports of high-tech products to Africa has increased year by year, surging from 490 million CNY to 2.92 billion CNY, with an average annual growth rate of 43.1%. In the first seven months of this year, Hunan's exports of high-tech products to Africa increased by 31.2% year on year.

In the past six years, Hunan's major commodities imported from Africa include metal ores and ore sand, copper, rubber, and imports of non-resource products such as high-quality characteristic agricultural products have increased significantly. Hunan's imports of agricultural products from Africa increased from 80.167 million CNY in 2018 to 340 million CNY in 2023, with an average annual growth rate of 33.4%.

The China-Africa Economic and Trade Expo has been held for three consecutive years, effectively promoting high-quality African agricultural products to Hunan Province. Dried wild anchovy from Kenya is processed into a snack with Hunan flavor, and dried and fresh fruits such as macadamia nuts, cashew nuts and fresh avocados from Africa are sold well in Hunan. In the first seven months of this year, Hunan's imports of aquatic products, and dried and fresh fruits and nuts from Africa increased by 102.4% and 3160% year on year respectively.

This article is from the Hunan Provincial Government www.enghunan.gov.cn.

Translator: Xiao Juan

Chinese source: hunan.gov.cn