China-Africa trade topped $210 bln in 2013

Trade between China and Africa increased 5.9 percent year on year to $210.2 billion in 2013, according to data released on Tuesday by the China Chamber of International Commerce.

Chinese exports to Africa stood at 92.8 billion U.S. dollars, up 8.8 percent. Imports from Africa hit 117.4 billion U.S. dollars, up 3.8 percent, the data showed.

Meanwhile, more than 2,000 Chinese companies had been established in Africa by the end of 2013, in sectors including agriculture, infrastructure, manufacturing, resources exploration, finance, trade, and logistics, the data showed.

However, as developed economies including the United States, the European Union and Japan realize the development potentials in Africa, Chinese companies are facing ever increasing competition in the continent, according to Stephen Priestley, Standard Chartered's Africa head of client coverage and origination.