Posted on July, 26, 2018 at 10:48 am
Intra-African trade is estimated to have amounted to $371 billion last year, but Tanzania was not among the major beneficiaries, a new report suggests.
According to the Africa Export and Import Bank (Afreximbank) report, Tanzania is among five countries that registered steep declines in their trading with the rest of the continent last year. Others are Mali, Botswana, Zimbabwe, Gambia and Libya, which collectively account for around 11 per cent of total intra-African trade.
The Afreximbank’s African Trade Report 2018: Boosting Intra-African Trade – Implications of the African Continental Free Trade Area Agreement (AfCFTA) says these economies registered steep declines in trading with their peers, which averaged over 20 per cent.
“The champions of intra-African trade remained largely the same in 2017 as in 2016, with South Africa, Namibia and Nigeria contributing over 35 per cent of intra-African trade. This compares with ten other countries - Zambia, Côte d’Ivoire, Swaziland, Botswana, Zimbabwe, DRC, Mozambique and Kenya, Morocco and Ghana - which also account for 35 per cent of intra-African trade,” reads the report.
Source: IPP Media