China's zero-tariff policy drives surge in African imports

In May, China experienced a remarkable 21.1% increase in imports from Africa, which further escalated to 40.2% in June compared to the previous year, surpassing the overall growth of Chinese imports. This surge followed Beijing's implementation of a zero-tariff policy across Africa in May. A significant factor contributing to this rise is China's heightened demand for essential minerals needed for clean energy, semiconductors, and AI-driven data centers. Notably, unwrought copper imports from Africa soared over 110% in May, reaching US$1.65 billion, while purchases of platinum and spodumene also saw significant increases. Additionally, rhodium powder imports skyrocketed nearly fivefold to over US$125 million. Crude oil imports from Africa climbed 21% to US$3.11 billion, becoming the largest import category from the region amid disruptions in oil flows due to the US-Israel conflict with Iran. The tariff-free initiative is also creating avenues for African agricultural exports.