Africa still gets less than 3% of global trade as intra-Africa trade falters at 10%
Despite the fact that Africa is endowed with mineral resources such as gold, diamond, bauxite and manganese, as well as some of the world's highly prized cash crops like cocoa, coffee and tea, the continent's share in global trade and even trade among the continent's 53 countries is abysmal, writes *Emmanuel K. Dogbevi.
AFRICA'S share in the $30 trillion global trade has remained a minimal 3% over the years and intra-Africa trade is a meagre 10%.
The Africa Trade Policy Centre (ATPC) of the United Nations Economic Commission for Africa (UNECA), recently, organised the first ever Africa Trade Forum in Addis Ababa, to look at how Africa can trade itself out of poverty.
According to the ATPC, despite the exponential increase in the volume as well as the value of goods and services traded across borders Africa's share in global trade continues to decline.