✕ CLOSE Online Special City News Entrepreneurship Environment Factcheck Everything Woman Home Front Islamic Forum Life Xtra Property Travel & Leisure Viewpoint Vox Pop Women In Business Art and Ideas Bookshelf Labour Law Letters
Click Here To Listen To Trust Radio Live

Africa’s share of global trade remains under 3% despite AfCFTA – Report

A report by the Economic Commission for Africa (ECA) Africa’s has stated that contribution to global trade remains at less than 3%.

The report on assessment of progress on regional integration in Africa shows Africa’s regional integration agenda is progressing, but slowly.

It added that the programme for infrastructure development in Africa has seen mixed results in its efforts to enhance infrastructure.

SPONSOR AD

While progress has been made in the areas of roads and ICT, advancements in rail transport and energy infrastructure have been minimal with financing posing a significant hurdle.

ECA Director, Regional Integration and Trade Division, Stephen Karingi, said unconstitutional changes in government across the continent, unemployment and poverty were top challenges facing the continent.

According to him, “The rising number of unconstitutional changes of Government highlights the ongoing challenges afflicting African countries, including weak governance, persistent poverty and limited employment opportunities.

The report further noted that although the agreement establishing the African Continental Free Trade Area (AfCFTA) officially started on January 1, 2021, the anticipated improvements in trade between African countries have not materialized.

The proportion of intra-African trade relative to worldwide trade decreased from 14.5% in 2021 to 13.7% in 2022.

During this time frame, the share of intra-African exports out of total exports dropped from 18.22% to 17.89%, and the share of intra-African imports out of total imports fell from 12.81% to 12.09%.

Sponsored

Discover the latest trends on Temu! Shop mobile phones, fashion, beauty, home essentials & more. Start exploring now!


Click here to learn how it works.

Sponsored

Unlock AI's potential! Get top prompts for content, blogs, social media, research, draft proposals and more. Boost creativity start using AI tools today!


Click here to learn how it works.

Sponsored

Start Affiliate Marketing Today! Learn step-by-step how to set up a blog, find programs, create links, and earn money—beginner-friendly guide inside!


Click here to learn how it works.

Sponsored

Join our FREE WEBINAR! Discover the 3-step formula to turn WhatsApp into a cash-generating machine. Sign up now and start earning!"


Click here to learn how it works.

Sponsored

Master Facebook Ads! Learn to set up Business Manager, run campaigns, optimize budgets, and drive sales. Start your journey to ad success today!"


Click here to learn how it works.

Sponsored

Unlock your confidence and attract the love you deserve! Learn how to become irresistible to women—start your transformation today!"


Click here to learn how it works.

Join Daily Trust WhatsApp Community For Quick Access To News and Happenings Around You.