The report finds that Africa’s trade profile remains heavily dependent on exports of raw materials, including agricultural commodities, oil, gas and minerals, while imports continue to be dominated by manufactured goods, machinery and other value-added products.
The African continent must accelerate efforts to diversify its economies, deepen regional integration and invest in critical infrastructure if it is to unlock its full trade and investment potential, according to a new report released by the African Export-Import Bank (Afreximbank).
In the latest edition of its Trade and Development Finance Brief, Afreximbank examines the structural challenges shaping the continent’s trade performance and investment outlook amid growing global economic uncertainty.
The report finds that Africa’s trade profile remains heavily dependent on exports of raw materials, including agricultural commodities, oil, gas and minerals, while imports continue to be dominated by manufactured goods, machinery and other value-added products.
According to the report, this trade structure leaves many African economies vulnerable to external shocks, including commodity price fluctuations, geopolitical tensions and disruptions to global supply chains.
