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Sierra Leone Business: Sierra Leone exports to China grows by 44% in 2016

“The trade between China and Sierra Leone has witnessed a continuous growth since 2002. China is one of the major trading partners of Sierra Leone” the Chinese Economic Counsellor to Sierra Leone Mr Shen Xiaokai has said. He intimated that exports to China from Sierra Leone have grown by 44.8% from last year amounting to US$239million.
The trade volume for 2016 was US$481 million with China exporting US$242 million, which dropped by 12.9% year on year.
“China’s main export to Sierra Leone in 2016 included machinery, electronics, electricals, clothing, footwear and food stuff. Because of the relationship between the two countries, trade has been very successful and the Chinese government is doing all it can to make the bi-lateral trade between the two countries grow steadily.”
The Economic Counsellor averred that most of Sierra Leone’s exports comes from the mining sector, which he said has been doing fine of late.
He recalled that Sierra Leone’s economy was brought to a virtual standstill by the onslaught of Ebola. The epidemic he said stretched the already fragile public finances, and its direct and indirect socio-economic impacts resulted in the erosion of some of the post-civil war gains in human development.
The declaration of the end of Ebola transmission in November 2015 opened a new window of opportunity that enhanced import and export and changed the face of the economy.
Mr Shen said China will try expanding trade with Sierra Leone this year as the world’s largest user of iron ore seeks more of the material for steelmaking.
“Trade will (grow in) 2017 and there are already signs of that in the first quarter results.”
China displaced South Africa as Sierra Leone’s biggest trading partner in 2011 as it increased investments in the mining industry, according to data compiled by Bloomberg.
Monday April 24, 2017.

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