Africa Trading With Africa: The Shift That Changes скачать в хорошем качестве

Africa Trading With Africa: The Shift That Changes

Intra-African trade is gaining momentum as a pillar of Africa’s economic transformation, even as the continent remains far less integrated than other regions. In 2024, trade between African countries reached approximately $220 billion, up more than 12% year-on-year. Yet intra-African trade still accounts for only about 14% of total African trade, compared with over 60% in Europe and Asia—highlighting both progress and vast untapped potential. - The African Continental Free Trade Area (AfCFTA) is the main vehicle for closing that gap. Once fully implemented, it will create a single market of 1.4 billion people with a combined GDP of roughly $3.4 trillion, making it the world’s largest free-trade area by membership. Estimates suggest AfCFTA could generate $450 billion in income gains, with $292 billion—nearly two-thirds—coming from stronger trade facilitation, including streamlined customs, reduced red tape, and more efficient border procedures. The biggest gains, in other words, come from fixing how trade works, not just lowering tariffs. - Sector-level shifts show how integration is already reshaping markets. South Africa remains the continent’s largest intra-African trading partner, while Nigeria has expanded regional exports in refined petroleum, cement, and processed foods. Morocco’s automotive and phosphate industries are deepening links across West and Southern Africa, and Côte d’Ivoire is exporting more processed cocoa within the region. Digital tools are also helping: the Pan-African Payment and Settlement System (PAPSS) is reducing transaction costs by enabling cross-border trade in local currencies. - This push is gaining urgency as global trade dynamics shift. The African Growth and Opportunity Act (AGOA)—which provided preferential access to U.S. markets—expired in 2025, underscoring the risks of reliance on external trade regimes. As exporters adjust, AfCFTA offers a pathway to redirect production toward regional value chains, support industrialization, and build resilience through African-led trade. The prize is not just higher trade volumes, but a more integrated and self-sustaining continental economy. - ✅ ғᴏʟʟᴏᴡ @spotlightinafrica !