Positive Trade with China China is the worldâ€™s second largest economy with over 12 trillion dollars of output in 2017, after the United States which is in first place with over 19 trillion dollars. Nigeriaâ€™s GDP in 2017 was about 376 billion, at number 31 in the world. Africa, as a whole recorded a GDP of about 2.2 trillion dollars, that would make it the eight largest economy in the world if it were a country. As it is, China is Africaâ€™s largest trading partner having surpassed the United States since 2009. In 2017, Africaâ€™s total trade with China was $170 billion, compared to about $55 billion with the United States. In this connection, 1-Which of the following African countries has largest amount of trade with China? A. Angola B. Egypt C. Nigeria, and D. South Africa. Now what really matters for real GDP growth is net exports, which is the total value of exports less the total value of imports. You want this value to be positive. In this regard, 2-Which of the following African countries has the largest net exports with China in 2017? A. Angola B. Egypt C. Nigeria and D. South Africa. ANSWERS 1-South Africa is Chinaâ€™s biggest trading partner in Africa, with about $46 billion dollars of trade in 2015. Nigeriaâ€™s trade value was about $15 billion. 1-Nigeria, is the African country with the most positive net exports with China, at about $12.5 billion, compared to about negative $15 billion with South Africa.
Posted: Sep 18th, 2018 @ 05:06:33 AM