Articles

DISCOVERING INSIGHTS ABOUT AFRICAN INTERNATIONAL TRADE: AFRICA TRADE DATA

by Tradeimex Solution Import Export

BIRD EYE VIEW OF THE AFRICAN CONTINENT

Africa is the second biggest continent on Earth after Asia with respect to land area as well as population. This is the continent that covers almost 20% of the total global land area and contains 54 completely known countries. It gives shelter to 1.4 billion people (18% of the total population). Although the continent is home to a variety of natural resources, still the continent is the least wealthy continent. The main reasons behind this trait of Africa are tribalism, neocolonialism, corruption, and cold war.

AFRICA TRADE STATISTICS AND TRENDS

Mostly all the nations of the African Continent are focusing on building international relations by growing their foreign trade with other nations across the globe. This can be proved by going through the values recorded in the Africa Trade Data report for the past few years. Let’s understand this with the help of a statistical table.

AFRICA TRADE DATA INSIGHTS (2018-2022)

YEAR

IMPORTS

EXPORTS

TOTAL TRADE

2018

USD 576.78 billion

USD 506.06 billion

USD 1.08 trillion

2019

USD 564.65 billion

USD 474.37 billion

USD 1.03 trillion

2020

USD 502.22 billion

USD 394.03 billion

USD 896.25 billion

2021

USD 609 billion

USD 556.16 billion

USD 1.16 trillion

2022

USD 654.62 billion

USD 624.13 billion

USD 1.27 trillion

 

As per the table mentioned above, the Africa Trade Data has shown an increase of 17.6%. Also, based on the Africa Import Data for the past few years, it is noted that South Africa is the major African nation that imports the most products. In the year 2022, South Africa imported goods worth USD 111.87 billion which was 17.09% of total African imports.

 

 

TOP 10 IMPORTS OF AFRICA IN THE YEAR 2022

As per the Africa Import Data report for the year 2022, the countries of the continent imported numerous kinds of products from across the world. Amongst them, the top 10 imports to the African continent were:

·        Mineral fuels and oils (USD 126.64 billion)

·        Mechanical appliances and gadgets (USD 61.51 billion)

·        Electrical machines (USD 45.84 billion)

·        Light automobile (USD 40.33 billion)

·        Cereals (USD 30.52 billion)

·        Plastic products (USD 27.27 billion)

·        Iron and steel (USD 19.58 billion)

·        Packaged medicaments (USD 17.48 billion)

·        Animal and vegetable fats (USD 13.81 billion)

·        Chemical items (USD 10.08 billion)

TOP 10 IMPORT PARTNERS OF AFRICA IN THE YEAR 2022

All the nations of the continent are into international trading. Out of all countries, those which contributed the most to Africa Import Data for the year 2022 were:

·        South Africa (USD 111.87 billion)

·        Egypt (USD 79.71 billion)

·        Morocco (USD 72.83 billion)

·        Nigeria (USD 60.48 billion)

·        Algeria (USD 32.43 billion)

·        Tunisia (USD 21.68 billion)

·        Kenya (USD 21.12 billion)

·        Cote d’Ivoire (USD 17.97 billion)

·        Ghana (USD 17.76 billion)

·        Libya (USD 16.97 billion)

Other nations that are on the list of top importers were Ethiopia, Angola, and Senegal.

 

CONCLUSION

Despite the fact that the African continent is the second-largest continent in the world and contains more than 50 recognized countries, the economy of the complete continent is very low and downgraded. Most of the nations on the continent belong to a lower-income group. It would be hard for the continent to improve its economy super soon, but if all the nations try to remain consistent in their trade and development domains, the economy of the complete continent can get better.

For more information about Africa Trade Data and Import Export Data of any nation, contact TradeImeX today and get the most accurate and authentic information about 70+ nations in the world.


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Created on Jun 8th 2023 04:29. Viewed 178 times.

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