Beijing, June 29 (Reporter Qiu Haifeng, Wang Junling) Reporter 29 learned from the General Administration of Customs, the General Administration of Customs in the third session of the China-Africa Economic and Trade Expo, the first release of the "China-Africa trade index." The index took 2000 as the base period value of 100 points, and reached 990.55 points in 2022, showing a rapid trend of good development and constantly climbing to a new height. During the same period, China's import and export value to Africa rose from less than 100 billion yuan to 1.88 trillion yuan, a cumulative increase of more than 20 times, with an average annual growth rate of 17.7 percent. China has been Africa's largest trading partner for 14 consecutive years. In the first five months of this year, China-Africa trade maintained a good momentum, with the import and export value of 822.32 billion yuan, up 16.4 percent year on year.
The relevant person in charge of the General Administration of Customs said that since 2000, China-Africa trade has been developing rapidly, expanding in scale and improving in quality. The China-Africa Trade Index reflects the following trends in China-Africa trade development:
Trade is on the rise. The index of China-Africa trade scale continues to improve, reaching 1,855.16 in 2022, and the total import and export volume between China and African countries in that year reached a historical high of 1.88 trillion yuan, up 14.5% year-on-year.
Trade links are getting closer. The index of China-Africa trade closeness fluctuated upward, peaking at 293.05 in 2021 and falling slightly to 286.8 in 2022. In 2022, China's exports to Africa accounted for 4.6% of China's total exports, and Africa's exports to China accounted for nearly 15% of Africa's total exports, making China Africa's largest export destination.
The trade structure is full of bright spots. The trade structure index showed an overall upward trend, reaching 143.69 in 2022. China's main exports to Africa are mainly mechanical and electrical products, labor products and steel products, while China's main imports from Africa are energy, metal ore and agricultural products.
Trade potential continues to grow. The trade potential index has always maintained an upward trend, reaching 761.04 in 2022. China and Africa enjoy dynamic economic development and increasingly close economic and trade cooperation. China needs more "made in Africa" and Africa also needs more "made in China". Bilateral trade has broad prospects for development.
The vitality of enterprises has been continuously enhanced. The index of trade vitality between China and Africa has maintained a good growth trend, reaching 833.11 in 2022. From the perspective of enterprise import and export scale, the proportion of import and export value of large enterprises has increased year by year, and will be about 90% in 2022. The number of small businesses has increased about tenfold, from more than 10,000 in 2000 to more than 100,000 today.
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