Hunan Tops Nationwide in Barter Trade Volume with Africa

2026-09-18

Recently, a batch of auto parts and crawler cranes was declared for export with the Xingsha Customs Authority, bound for Nigeria. At the same time, a batch of spodumene set off from Apapa Port in Nigeria by sea, bound for Hunan. The two shipments are an epitome of the development of Hunan-Africa barter trade. According to data from the Changsha Customs Authority, in the first eight months of this year, Hunan's barter trade volume with Africa reached 116 million CNY, a year-on-year increase of 76.89%, ranking first nationwide in this regard.

African countries are eager to import Chinese products, but some face a decline in foreign exchange reserves and insufficient payment capacity. Hunan has taken the initiative to break this impasse and became the first in China to launch a pilot program for a new type of barter trade with Africa, seeking new pathways to expand trade between Hunan and Africa.

Unlike traditional general trade, barter trade does not require foreign exchange settlement and transactions can be completed through the equivalent exchange of goods and services. Under this emerging trade model, Hunan's competitive products such as construction machinery and electromechanical products are exported to Africa to support its infrastructure construction, while African minerals and distinctive agricultural and forestry products are introduced in return, achieving mutual benefit and win-win results.

Hunan Construction Investment International Trade Co., Ltd. is a key pilot enterprise for barter trade in the province. The company mainly imports chromite, spodumene, and sesame, and exports wires, cables, and automobile tires through barter trade. It has developed a standardized and replicable business model, achieving an efficient and orderly connection between goods flow and cross-border flow. At present, the company plans to upgrade the "barter trade + overseas warehouse" model to further expand the transaction volume of barter trade.

The Changsha Customs Authority has strengthened policy support and guidance for enterprises, deepened customs clearance coordination with port customs authorities, and guided enterprises to form a new model of industry-trade integration of "equipment export-production capacity upgrading -product return shipment," continuously deepening Hunan-Africa economic and trade cooperation.

Statistics show that since the launch of the barter trade pilot program with Africa in 2021, Hunan has recorded a cumulative import and export value of 388 million CNY, with business covering 14 African countries, including Nigeria, Zimbabwe, and South Africa.

This article is from Hunan Provincial Government. www.enghunan.gov.cn.

Translator: Xiao Juan

Chinese source: hunan.gov.cn