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Who are modern African nations' major trading partners?
Quick answer:
Modern African nations primarily trade with China, the European Union (EU), and the United States. China is a leading partner, exchanging electronics for Africa's natural resources and investing heavily in the continent. The EU, accounting for about 25.5% of imports in sub-Saharan Africa, maintains free trade agreements with several African countries. The United States also remains a significant partner, despite competition from other emerging economies.
China is one of the major trading partners of modern African nations. In addition, it is a key investor in the continent. Trade between China and Africa significantly grew in the past 10 years. Africa primarily exports natural resources, while China exports electronics. The trade between China and Africa has played a central role in the economic growth of the latter.
Another major trading partner is the European Union (EU). It has free trade agreements with several countries in the continent. Approximately 25.5% of imports in sub-Saharan Africa are from the EU.
In addition, the United States is a major trading partner of modern African nations. Despite other emerging economies tapping into the African market, the United States has continued to maintain a strong partnership with many African countries.
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