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FACTBOX: How U.S. trade with Africa compares

Thu Feb 14, 2008 5:33am EST

(Reuters) - President George W. Bush will travel to Africa on Friday to highlight efforts to boost economic development and fight AIDS and other diseases.

Barack Obama

Here are some details about trade with Africa and the United States position compared with the EU and China:

THE EUROPEAN UNION:

-- The EU is Africa's largest trading partner, with trade totaling more than 215 billion euros ($315.2 billion) in 2006.

--The EU imports more than it exports, except in the case of South Africa and had a trade deficit of 35 billion euro in 2006.

-- Africa accounts for nine percent of EU imports and eight percent of exports.

-- Between 2000 and 2006, EU exports of goods to Africa rose from 66 billion euro to 92 billion euro ($134 billion), while imports increased from 85 billion to 126 billion euro ($183 billion).

THE UNITED STATES:

-- The African Growth and Opportunity Act (AGOA), introduced in 2000 but now extended to 2015, allows nearly 40 countries in Sub-Saharan Africa to export some goods free of duties and quotas into the United States.

-- U.S. total trade with sub-Saharan Africa (exports plus imports) increased 17 percent in 2006, as both exports and imports grew.

-- U.S. exports increased by 17 percent to $12.1 billion, driven mainly by increases in machinery, aircraft, vehicles and parts, electrical equipment and non-crude oil.

-- U.S. imports also rose 17 percent to $59.2 billion in 2006. A 20 percent increase in crude oil imports caused most of the overall growth, as well as smaller increases in imports of platinum, diamonds, and iron and steel.

-- Trade between the United States and sub-Saharan Africa is highly concentrated, with a small number of African countries accounting for an overwhelming share of the total for both imports and exports.

CHINA'S TRADE WITH AFRICA:

-- Trade links between China and Africa took a leap forward after President Hu Jintao's 2004 visit when he announced a drive to strengthen relations with the continent.

-- Resource-hungry China leapt into third trading place in 2006 with 43 billion euros of trade and has massively stepped up investments.

-- China's total trade with Africa hit $58.72 billion in the first 10 months of 2007, up 30.3 percent from a year earlier, of which:

-- Exports are $30.05 billion, up 40.7 percent from a year earlier, but accounting for only 3 percent of China's total exports in the same period.

-- Imports are $28.66 billion, up 20.9 percent from a year earlier and accounting for 3.7 percent of China's total imports in the same period.

Sources: Reuters/www.agoa.gov/

Eurostat-ec.europa.eu/eurostat:



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