Climate change, trade and industrial development

Abstract

Africa’s trade constitutes about three per cent of global trade. Exports are largely agricultural and unprocessed commodities from particularly resource-rich countries. Agriculture, mining and oil constitute more than 80 per cent of exports, traded mainly with Europe and North America. Trade between African countries currently constitutes only about 10 per cent of the total – with trade in agricultural and manufactured goods on the increase. For the future, Africa seeks greater conversion of natural resources to higher-value products, to expanding local industries, with greater export opportunities and import substitution.