Statistical analysis of intra-African trade (1970 - 1986)

Abstract

The economies of most African countries are characterized by strong trade ties with the developed market economy countries. The direction of their trade is mainly oriented to these countries ever since the colonial times and has changed very little since the African countries achieved their independence more than two decades ago. In 1985, the exports of Africa to that group of countries amounted to $48,023 million accounting for 80.8 % of African’s total exports of $59,430 million while its imports of $63,177 million. Furthermore, the export pattern indicates a concentration of a few primary commodities which constitute the main source of their foreign exchange earnings, while they also rely on imports of manufactured goods from the developed countries to satisfy internal demand. Since many cases have fallen drastically to low levels while the prices of manufactured goods have continued to increase dramatically.