Ghana is the 6th ranked country in Africa with exports to China, the Standard Bank Economy 2025 Outlook has revealed.
The country’s exports to total exports to China is estimated at 8.2%.
Democratic Republic of Congo came 1st with 48% of exports to China.
Angola, Zambia, Mozambique and Namibia ranked 2nd, 3rd and 4th respectively. Their share of exports to total exports to China were estimated at 45%, 28.7%, 17% and 15%.
The report stated that Sub-Saharan Africa economies are reliant on robust external demand from China. for their key exports and may still face downside risks to growth over the coming year, should US tariffs become detrimental for economic activity in China.
“Of the markets in our coverage, DRC, Zambia and Angola have a sizeable concentration of their exports that are routed to China. In Angola, around 45% of their total exports of goods go to China, while in DRC this is higher, at around 48%. In Zambia this ratio is also elevated, at around 28.7%. However, this is lower in other economies such as Botswana at 7.2%, Ethiopia 8.4%, Ghana 8.7%, Kenya 2.8%, and Nigeria at 3.3%”.
Nonetheless, oil-exporting economies such as Nigeria may still be susceptible to a slowdown in the Chinese economy, as this may coincide with a decline in international oil prices and worsen the external position.
“In the past, this has exacerbated FX [forex] liquidity conditions and weighed on growth in the non-oil sector too. However, recent pledges by Chinese authorities, to ramp up their stimulus support, may underpin economic activity in China and thereby support prices for both oil and copper”, the report added.
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