A Historic Half for South-South Trade
China-Africa bilateral trade reached a record $197 billion in the first half of 2026 — an all-time high — as Beijing's zero-tariff policy for all African countries that have diplomatic relations with China continued to unlock new commercial opportunities, China's Foreign Ministry said on July 27.
The Numbers
| Metric | H1 2026 | YoY Change |
|---|---|---|
| Total trade (goods) | $197 billion | Record high |
| Medical device exports | $27.096 billion | +12.47% |
| Industrial equipment exports | Strong growth | Notably high |
| Single-use consumables & diagnostics | — | +14% (sub-category) |
Structural Shifts
Beyond volume, the composition of China-Africa trade is upgrading. Medical devices and industrial equipment now account for a growing share, replacing lower-value commodity exports. China's zero-tariff policy — covering all 52 African countries with diplomatic relations — has been particularly impactful for manufactured goods, while African exports to China are also gaining momentum.
New Growth Drivers
- Medical devices: Single-use consumables and diagnostic equipment led with growth above 14%
- Infrastructure: Continued Chinese project financing in African rail, port and energy projects
- Digital cooperation: Telecommunications and fintech partnerships expanding rapidly
Headwinds to Watch
Despite the headline record, rising challenges are emerging: shipping freight rates have doubled year-on-year, Nigeria's FX access has tightened, and local African pharmaceutical firms face higher financing costs — all of which compress margins for Chinese exporters despite the tariff advantages.
Outlook
With trade volume already at a record pace in H1, full-year 2026 China-Africa trade is expected to comfortably surpass previous highs, though logistics and FX bottlenecks could cap the growth rate in H2.