Transform: Africa business and investment forum

Abstract

Africa’s merchandise exports declined from $640 billion in 2012 to $349 billion in 2016, with the continent’s share in global exports declining from 3.5 per cent to 2.2 per cent over the same period. This rapid decline in Africa’s trade performance is largely a result of the dampening of global growth and the downward trend of commodity prices, highlighting the urgent need to diversify and expand trade within the continent. Primary commodities and raw materials still largely dominate Africa’s exports, as indicated in the figure below. Fuels alone accounted for 53.9 per cent of the value of Africa’s exports in 2014. The share of manufacturing exports in Africa’s total exports has declined over time, from 25.6 per cent in 1995 to 21.8 per cent in 2004 and to 18.9 per cent in 2014.