Sep. 4, 2008 (China Knowledge) - The bilateral trade between China and Africa is most likely to exceed US$100 billion in 2008, two years earlier than expected, based on the outstanding growth in the first half of this year, according to the General Administration of Customs.

Statistics from the customs showed the trade volume between China and Africa amounted to US$53.14 billion in the first half, representing a year-on-year rise of 65.6%. The growth rate was 40.2 percentage points higher than a year earlier.

Of the total, exports to Africa jumped 40.1% year-on-year to US$23 billion, and imports from Africa soared 92.3% to US$30.14 billion, 84.7 percentage points higher than the year-earlier level.

As of the end of June, the number of African countries, which recorded a trade volume of more than US$500 million with China, has climbed to 19 from 14 a year ago.

Angola remains China's largest trade partner in Africa, with the trade volume surging 140% to US$13.35 billion, compared with a 14.1% decline a year earlier. The volume accounts for 25.1% of the total Sino-Africa trade in the same period.

A year-on-year increase of 59.5% was also seen in the bilateral trade between China and 26 underdeveloped countries in Africa, which totaled US$11.58 billion.

It was predicted that there are still great potential for Sino-African trade because of the bilateral trade only accounted for 4.3% of China's total foreign trade in the Jan.-Jul. period.