Head Topics

African Countries Could Unlock Billions in Local and Global Trade - What's Working and What's Not

  • 📰 allafrica
  • ⏱ Reading Time:
  • 22 sec. here
  • 14 min. at publisher
  • 📊 Quality Score:
  • News: 54%
  • Publisher: 99%

Africa News

Analysis - Africa's share of global trade remains disproportionately small, hovering around 2%-3%. Countries on the continent trade more with the rest of the world than they do among themselves. Africa needs to improve its share of trade to boost growth and reduce poverty.

is a development initiative that seeks to remove barriers to trade facing developing countries. International trade and development economics professor, for instance, that Africa could annually be generating US$21.9 billion more from exports to the world. This limits the continent's economic growth and ability to lift millions out of poverty.These statistics have serious implications.

Geographical and logistical challenges often inflate trade costs in Africa. That's why the initiative mostly funds projects like port facilities, trade corridors and telecommunications infrastructure across the continent., we examined the initiative's impact on trade costs. We found that the initiative's trade cost reduction effects were higher among African countries with relatively good infrastructure networks.

News Politics Economy Trade Business Sports Current Events Travel Trade Economy Business And Finance Africa

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 1. in ZA

South Africa Latest News, South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Africa: Keynote Address by Dr. Akinwumi A. Adesina, President, African Development Bank Group All Africa M...Document - Your Excellency, President Ruto, President of the Republic of Kenya
Source: allafrica - 🏆 1. / 99 Read more »

Africa: As East Africa Grows, Southern Africa Is Being Left BehindAnalysis - Why is Southern Africa's economic growth the worst of all Africa's regions, while East Africa is number one?
Source: allafrica - 🏆 1. / 99 Read more »

Southern African countries plan to expand special tourist visa - SABC News - Breaking news, special reports,Southern African countries plan to expand special tourist visa.
Source: SABC News Online - 🏆 32. / 51 Read more »

You'll be surprised to see which countries buy South African-built cars and bakkiesYou'll be surprised to see which countries buy South African-built cars and bakkies
Source: News24 - 🏆 4. / 80 Read more »

African countries can’t resolve their debt crisis under a system rigged against theThis realisation comes as 20 African countries face or are at risk of debt distress.
Source: Moneyweb - 🏆 5. / 77 Read more »

African Countries Can't Resolve Their Debt Crisis Under a System Rigged Against ThemAnalysis - The debt situation in many African countries has escalated again to a critical juncture. Twenty are in, or at risk of, debt distress.
Source: allafrica - 🏆 1. / 99 Read more »