- Top 5 Products to Export to China
Since Flutterwave announced its partnership with Alipay, the world’s largest online payment provider last month, the question potential African merchants are asking is what could Africans export to the world’s second-largest economy, China, in order to tap into its over 1 billion customers they can now access.
Well, we’ve compiled 5 unique and easily accessible products African merchants can start exporting to China.
Just like China is the world’s largest importer of crude oil, China is also the world’s largest importer of Soybean. This was the reason why the US hiked tariffs on Soybeans to hurt Chinese consumer spending at the start of the trade war.
Now, with the increase in tariffs, cost of Soybeans will increase in China. Meaning, Chinese companies will be looking for new suppliers without additional tariff cost.
Edible Vegetable Oil
Cereals and Cereal Flour
Similarly, the Chinese imported over $5.5 billion worth of cereals in 2018. This is a niche African merchants can easily tap into. Do your research on how to export from your country and you are good to go.
While the volume of import is just $1 billion, China is the world’s largest importer of Cassava and Nigeria is leading in cassava production. Hence, another opportunity for the giant of Africa and the rest of African nations.
Exporting these products will help improve foreign revenue and enhance job creation across the African continents now that Flutterwave has bridged decades-long payment gap.