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In March 2018, African countries signed a landmark trade agreement, the African Continental Free Trade Area Agreement (AfCFTA), which commits countries to remove tariffs on 90 percent of goods, progressively liberalize trade in services, and address a host of other non-tariff barrier. Botswana and South Africa export the most sophisticated goods while Rwanda and Uganda have made the greatest improvements over the past three decades. In 2015, African countries spent about $63 billion on food imports,4 largely from outside the continent. But it uses a relatively small area of land – an average of 2.5 million hectares since 2010. Fred Stewart - Director  While cumulative nominal GDP growth for the region over 1995–2013 amounted to a substantial 350 percent (in U.S. dollars), the equivalent increase for goods exports was even larger, at 500 percent—over the same period, global trade expanded by 260 percent. 2006. Sub-Saharan Africa consists of 49 countries and is in the process of integrating into the world’s largest free trade area. Merchandise exports1 reached nearly $24 billion in 2013, an increase of $8.8 billion since 2009. The U.S. Government estimates that the total value of opportunities in the energy sector in FY 2020/21 is $125 billion, followed by $60 billion in infrastructure, $42 billion in healthcare (pre-COVID projections), and $15 billion in Information and Communications Technology (ICT). In these countries, knowledge transfers to other export sectors can unlock the potential of established or emerging industries. “Doubling Productivity and Incomes of Smallholder Farmers in Africa.” AGRA: Growing Africa’s Agriculture. Diversification should also lead to increased sophistication of export products. Sub-Saharan Africa. August 23, 2017. This means that the region will experience its first … While the United Nations geoscheme for Africa excludes Sudan from its definition of sub-Saharan Africa… Covid-19’s dark cloud has silver linings for sub-Saharan Africa ... about 80% of world trade in 2017. It produces about 16% of sub-Saharan Africa maize, according to the International Grains Council. U.S. Department of Commerce 1401 Constitution Ave NW  Details may not equal totals due to rounding. Many of the fastest growing economies in the world are in sub-Saharan Africa, according to the International Monetary Fund. The World Bank statistics from 2018 recorded a total population of 1.078 billion citizens, making it the second largest populated region in the world (World Bank 2018a). “What You Export Matters.” Journal of Economic Growth12 (1): 1–25. What is less known about the AfCFTA is that its scope exceeds that of a traditional free trade area, which generally focus on trade in goods, to include trade in services, investment, intellectual property rights and competition policy, and possibly e-commerce. Sub-Saharan Africa is witnessing high international mobility of students and health professionals. Background Sub-Saharan Africa (SSA) is a priority region for ITFC and for the IDB Group.  The AfCFTA will improve export sophistication across the continent by enabling more countries to integrate regional and global value chains and consequently increase the quality of exports. There were at least 15 countries with active armed conflicts in sub-Saharan Africa in 2019: Burkina Faso, Burundi, Cameroon, the Central African Republic (CAR), Chad, the Democratic Republic of the Congo (DRC), Ethiopia, Kenya, Mali, Mozambique, Niger, Nigeria, Somalia, South Sudan and Sudan. ; Sub-Saharan Africa exported Gold in oth semi-manufactured forms,non-monetar, worth US$ 14,891,644.01 million. But for the first time in a generation—amid all the bad news—there is hope for change. It finds that the pass-through is incomplete. Two-way trade in goods and services between the United States and sub-Saharan Africa reached more than $38 billion in 2019, including over $15 billion in exports. This is a critical move for Africa as it constitutes a significant vote of confidence in its economic potential, while other regions and countries are engaged in a trade war.. African … Hausmann, Ricardo, Jason Hwang, and Dani Rodrik. Post was not sent - check your email addresses! United Nations Economic Commission for Africa. This paper addresses the experiences of a range of SSA countries with trade liberalization. According to modeling results by the Economic Commission for Africa (ECA),1 the AfCFTA is projected to increase the value of intra- African exports. Like the East Asian economies, they may have reached a saturation point to quality improvement within existing sectors and may need to target new geographic markets that can provide greater scope for growth and innovation to improve their competitive advantage. On a different note, Foresight Africa 2018 looked at the change in Africa’s trading partners in the past 10 years. Research on Sub-Saharan Africa’s Unrecorded International Trade: Some Methodological and Conceptual Problems. But protest movements like those in Burkina Faso, Senegal, and Sudan are exceptions. NOTE: All figures are in millions of U.S. dollars on a nominal basis, not seasonally adjusted unless otherwise specified. United Nations Economic Commission for Africa. U.S. exports to sub-Saharan Africa are growing and the trade deficit is narrowing U.S. exports of merchandise to sub-Saharan Africa have been steadily on the rise and up 58 percent since 2009. Lullu Krugel, chief economist for PwC Strategy& Africa, and Dr Christie Viljoen, PwC Strategy& economist, unpack why. Differences in export performance and product sophistication demonstrate that across the continent there is potential for increased diversification, the creation of regional vertically integrated industries, and the development of globally competitive regional value chains. The debate on the benefits of trade has dominated this decade, and Africa has cast its vote for more and better trade with itself. 2012. The region presents real opportunity for American businesses, encompassing combined market population of over 1 billion people and GDP of more than $1.5 trillion. It produces about 16% of sub-Saharan Africa maize, according to the International Grains Council. United Nations Economic Commission for Africa. Over 300 million African consumers are already in the global middle class. Over the past three decades, exports from East Asia have increased in both diversity and quality. Africa, a market of 1.1 billion people, will account for one-fifth of the world’s population by 2025; and spending by African consumers and businesses is expected to reach $5.6 trillion by 2025. Sub-Saharan Africa Learning What Works. Countries: Ghana (FCS), Côte d’Ivoire (Advocacy Center-AfDB), Cabo Verde, Guinea, Guinea-Bissau, The Gambia, Liberia, Senegal, Sierra Leone, Aaron Kirsh - International Trade Specialist Although global poverty has fallen, prosperity has not been fully shared. Africa trade Statistics . The U.S. and the African Union Commission (AUC) Business Forum Webinar on the AfCFTA. This compares with the 1 percent of GDP that is typical in industrialized countries, and the 2–3 percent of GDP found in fast-growing emerging economies. (202) 482-5643  All but four countries in the region (Zambia, Zimbabwe, Cameroon and Mauritania) have improved their ETI score with respect to two years ago. This paper summarizes the nature and determinants of trade in education and health services in a selected group of countries in Eastern and Southern Africa, using a combination of quantitative and … This is an important reason to expect that trade will be a key driver of growth in Africa. Goods exports to sub-Saharan Africa supported over 100,000 U.S. jobs in 2013. The various African regional economic blocs, and indeed the individual … The scale of AfCFTA’s potential impact makes it vital to understand the main drivers of the agreement and the best methods to harness its opportunities and overcome its risks and challenges. As the pandemic continues to disrupt the economy and debt levels rise, Atradius analysts predict an economic contraction of 4.6% in 2020 due to the disruption in trade, a drop in commodity demand, and worldwide travel restrictions. Our country experts in the Office of Sub-Saharan Africa at Commerce Department headquarters in Washington, DC can help connect you with the resources to enter or expand your business in the region. The quality growth has been especially substantial in manufacturing, although the quality of commodities has also increased due to the development of vertically integrated industries. Of exports.6 2014–2016, the great majority of the 24 poorest countries in the middle! 1.8 percent average, the U.S. and Foreign export Regulations addition in a generation—amid All the news—there., unpack why tralac ( trade Law Centre ) is present in nine sub-Saharan economy... Increases productivity and increases the overall value of exports.6 past three decades with trade.. 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