https://en.sputniknews.africa/20240314/imf-number-of-chinese-workers-in-africa-falls-64-in-six-years-due-to-funding-decrease-debt-1065544857.html
IMF: Number of Chinese Workers in Africa Falls 64% in Six Years Due to Funding Decrease, Debt
IMF: Number of Chinese Workers in Africa Falls 64% in Six Years Due to Funding Decrease, Debt
Sputnik Africa
In recent decades, despite challenges, China and Africa have developed closer ties, with China emerging as one of the continent's main players in terms of... 14.03.2024, Sputnik Africa
2024-03-14T17:06+0100
2024-03-14T17:06+0100
2024-03-14T18:03+0100
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A significant decline in the number of Chinese specialists working in African countries has been recorded in the current decade, the International Monetary Fund (IMF) reported.The number of Chinese workers in Africa fell to 93,000 in 2021 from a peak in 2015, the study noted, representing a 64% reduction.This is due to the decrease in funding for infrastructure projects in Africa by Chinese banks and companies.Another factor is the increase in public debt of a number of African countries, which does not allow their authorities the opportunity to conclude new agreements on large industrial projects.The IMF further noted that in 2019, five African countries — Algeria, Angola, Zambia, Kenya, and Niger — hosted 52% of the total number of Chinese specialists working on the continent at that time. It is noteworthy that up to 25% of the total number of Chinese workers in Africa had their jobs in Algeria.The study clarified that the calculations only included Chinese citizens sent to Africa to work on construction contracts won by Chinese companies, and Chinese specialists sent to staff local enterprises, including joint ventures. Individual migrants, such as self-employed traders and investors, were not included in the research.Despite the decrease in the Chinese workforce in Africa, the trade between the continent and the Asian giant has already exceeded $47 billion this year, according to the media.The trade volume grew by 13.9% in the first two months of this year. During that period, China's exports to Africa increased by 21% to $28.78 billion. China's imports from African countries increased by 4.5% to $18.89 billion.
https://en.sputniknews.africa/20240312/trade-volume-between-china--africa-already-exceeds-47-billion-this-year-reports-say-1065500040.html
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IMF: Number of Chinese Workers in Africa Falls 64% in Six Years Due to Funding Decrease, Debt
17:06 14.03.2024 (Updated: 18:03 14.03.2024) In recent decades, despite challenges, China and Africa have developed closer ties, with China emerging as one of the continent's main players in terms of commerce, investment, and infrastructure development.
A significant decline in the number of Chinese specialists working in African countries has been recorded in the current decade, the International Monetary Fund (IMF)
reported.
The number of Chinese workers in Africa fell to 93,000 in 2021 from a peak in 2015, the study noted, representing a 64% reduction.
"At the end of 2021, the official number of Chinese workers in Africa stood at about 93,000, a 64%reduction from the 2015 peak," the paper showed.
This is due to the decrease in funding for
infrastructure projects in Africa by Chinese banks and companies.
Another factor is the increase in
public debt of a number of African countries, which does not allow their authorities the opportunity to conclude new agreements on large industrial projects.
The IMF further noted that in 2019, five African countries — Algeria, Angola, Zambia,
Kenya, and Niger — hosted 52% of the total number of Chinese specialists working on the continent at that time. It is noteworthy that up to 25% of the total number of Chinese workers in Africa had their jobs in Algeria.
The study clarified that the calculations only included Chinese citizens sent to Africa to work on construction contracts won by
Chinese companies, and Chinese specialists sent to staff local enterprises, including joint ventures. Individual migrants, such as self-employed traders and investors, were not included in the research.
Despite the decrease in the Chinese workforce in Africa, the trade between the continent and the Asian giant has already exceeded $47 billion this year, according to the media.
The trade volume grew by 13.9% in the first two months of this year. During that period, China's exports to Africa increased by 21% to $28.78 billion. China's imports from African countries increased by 4.5% to $18.89 billion.
