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Friday, November 15, 2024

Top 10 African Countries with the Highest Trade Exports and Imports Within the Continent

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The African Trade Report (2024) highlights key players in intra-African trade, focusing on countries that lead in both imports and exports across the continent. Here’s a summary of the top 10 countries involved in intra-African trade:

Top 10 African Countries by Intra-African Trade

  1. South Africa
    • Intra-Africa Imports: $29.6 billion
    • Intra-Africa Exports: $9.59 billion
    • Total Intra-Africa Trade: $39.19 billion
  2. Côte d’Ivoire
    • Intra-Africa Imports: $11.38 billion
    • Intra-Africa Exports: $4.7 billion
    • Total Intra-Africa Trade: $16.08 billion
  3. Egypt
    • Intra-Africa Imports: $6.61 billion
    • Intra-Africa Exports: $1.63 billion
    • Total Intra-Africa Trade: $8.24 billion
  4. Nigeria
    • Intra-Africa Imports: $5.63 billion
    • Intra-Africa Exports: $2.36 billion
    • Total Intra-Africa Trade: $7.99 billion
  5. Zimbabwe
    • Intra-Africa Imports: $2.9 billion
    • Intra-Africa Exports: $4.73 billion
    • Total Intra-Africa Trade: $7.63 billion
  6. Mali
    • Intra-Africa Imports: $2.52 billion
    • Intra-Africa Exports: $5.03 billion
    • Total Intra-Africa Trade: $7.55 billion
  7. Ghana
    • Intra-Africa Imports: $6.02 billion
    • Intra-Africa Exports: $1.33 billion
    • Total Intra-Africa Trade: $7.35 billion
  8. Zambia
    • Intra-Africa Imports: $3.17 billion
    • Intra-Africa Exports: $3.75 billion
    • Total Intra-Africa Trade: $6.92 billion
  9. DR Congo
    • Intra-Africa Imports: $3.34 billion
    • Intra-Africa Exports: $3.55 billion
    • Total Intra-Africa Trade: $6.89 billion
  10. Namibia
    • Intra-Africa Imports: $3.15 billion
    • Intra-Africa Exports: $3.12 billion
    • Total Intra-Africa Trade: $6.27 billion

Regional Trade Insights

  • Southern Africa: Leading in intra-African trade, accounting for a significant portion of total trade within the continent.
  • West Africa: The second-largest region for intra-African trade, contributing 25.7% of the total.
  • East Africa: The third-largest region, contributing 14.1%.
  • North and Central Africa: Contributing about 12.4% and 6.6%, respectively.

Challenges and Future Outlook

Several factors have been identified as barriers to intra-African trade, including:

  • Increased inflation and economic uncertainty
  • High transport costs
  • Unfavorable foreign exchange rates
  • Political instability
  • High tariff costs

The African Continental Free Trade Agreement (AfCFTA) is expected to address these challenges and significantly boost intra-African trade by 52.3% by 2025, potentially increasing Africa’s income by up to $450 billion by 2035.

This comprehensive view of intra-African trade highlights the key players and regional dynamics shaping the continent’s economic landscape.

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