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-Intra-Africa Trade: Only 14.8% of Africa's trade is internal, compared to 54.5% for Asia and 68.4% for Europe.
- Global Trade Share: Africa accounts for just 2.2% of global exports, highlighting potential for growth.
- Key Export Partners: China, India, and the Group of Five (Indonesia, Malaysia, Saudi Arabia, Thailand, and UAE) are significant trade partners.
- Exports: Africa exports crude oil, gold, diamonds, agricultural products, and minerals, with $720 billion in exports in 2023.
- Imports: Machinery, electronics, vehicles, food, and medical supplies are key imports, totaling $800 billion in 2023.
Africa's trade
global exports
Years Of Experience
– African Continental Free Trade Area (AfCFTA): Aims to boost intra-African trade, potentially increasing Africa’s GDP by 10% and lifting 50 million people out of poverty by 2035.<br/>
– Regional Economic Communities: ECOWAS, SADC, EAC, and COMESA are pivotal for regional integration
- Top Performers: Democratic Republic of Congo (16% growth), Zimbabwe (14%), Liberia (13%), and Côte d'Ivoire (11%) are among Africa's fastest-growing trading nations, driven by minerals and agricultural commodities.
- Key Drivers: Rising demand for critical minerals like cobalt, copper, and bauxite fuels growth.
Overall, Africa's economic landscape is poised for growth, with initiatives like AfCFTA aiming to enhance intra-regional trade and industrialization
Africa's economy is a vibrant and dynamic force, driven by its rich natural resources, growing industries, and increasing intra-regional trade. Let's dive into the key aspects.
