Posted 3/3/2024, 11:55:52 PM
African Trade Struggles to Gain Momentum Despite Infrastructure Investment and Regional Deals
- African share of global trade still less than 3% in 2023 despite AfCFTA trade deal
- African countries trade more with rest of world than among themselves
- Intra-African trade decreased from 14.5% of worldwide trade in 2021 to 13.7% in 2022
- Progress made in roads and ICT infrastructure, but little advancement in rail and energy
- Africa has $130-170 billion annual infrastructure funding gap that limits regional integration
