African Trade Statistics on the economy and trade

The expansion and development of the continent have been significantly influenced by the African trade economy. Africa has seen a consistent rise in commercial activities throughout the years, both within the continent and with the rest of the world. Trade is essential for fostering economic integration, generating jobs, and reducing poverty in Africa.

Efforts to improve intra-African commerce through programmes like the African Continental Free commerce Area (AfCFTA) are notable. The goals of the AfCFTA, which went into effect in January 2021, are to promote regional economic integration, make it easier to move money around, and create a unified market for products and services. Through the removal of tariffs and the simplification of trade processes, this agreement has the potential to greatly increase trade inside Africa.

According to Africa trade data, Africa's trade has experienced growth. Africa's overall merchandise exports climbed from $534 billion in 2010 to $760 billion in 2019, according to data from the United Nations Conference on Trade and Development (UNCTAD). But it's important to remember that the COVID-19 epidemic had a significant influence in 2020 and beyond, on world commerce, especially trade with Africa. Still being examined are all of the pandemic's consequences on trade data.