Public Management

China was WAEMU’s least profitable trade partner in Q2, 2018

Tuesday, 09 October 2018 14:06

Africa remains WAEMU’s best commercial partner at the end of Q2, 2018, Ecofin Agency learned from official figures. Even though it dropped by 8% on a year-to-year basis, the trade surplus between the union and its main African partners was estimated at CFA365.3 billion.

There is namely a positive balance of CFA260.5 billion with South Africa thanks to gold exported by Mali and Burkina Faso. With the other ECOWAS countries that are not part of the WAEMU, the positive balance was CAF138.9 billion. Nigeria and Ghana are particular markets for the region with trade surplus estimated at CA38.4 billion and CFA44.2 billion respectively.

The most important trade deficit registered by WAEMU during the period under review was with China. Indeed, this partner received less than 2% of exports from West Africa but supplied 15% of the sub-region’s imports. This resulted in a trade deficit estimated at CFA567 billion. Globally, with Asia, the sub-region’s trade deficit was CFA606 billion during the period under review.

Let’s note that WAEMU’s overall negative balance rose during Q2, 2018 to reach CFA421 billion against CFA286.1 billion by the same period last year.

The figures demonstrate that the region will save enough if it produces more of its foods since they constitute the larger part of imports with an invoice of CFA1,121 billion.

Idriss Linge

Additional Info

  • communiques: Non
  • couleur: N/A
On the same topic
• Government to issue ₦80 billion in bonds through two tranches• Highest yield: 19.30% on four-year notes due April 2029• Bonds tradable, tax-exempt for...
The five-year deal allows Gambia to access liquidity without depleting foreign reserves or increasing debt. Highlights: ● Afreximbank to...
The credit line, 50% guaranteed by the EU, will expand access to finance for women-led and climate-resilient agricultural businesses in East and Southern...
BEAC introduces new USD transfer procedures from CFA franc accounts, effective July 22, 2025. Reform aims to streamline international payments and...
Most Read
01

The acquisition signals rising confidence in Africa’s digital infrastructure as a viable, long-term ...

Kenyan Mawingu Networks to Sell 35% Stake to South Africa’s Pembani Remgro Fund
02

The fintech leaders primarily emerge from Nigeria, Egypt, Kenya, and South Africa, nations recognize...

10 African Fintech Unicorns and Upstarts Make World’s Top 300
03

By linking ECOWAS countries, the project enhances regional digital infrastructure, which is crucial ...

Liberia, ECOWAS & World Bank collaborate on second West Africa submarine cable plan
04

As digital technologies reshape Africa's job market, digital skills are becoming crucial for youth i...

Africa Faces 'Critical' Digital Skills Gap as Youth Population Booms, UN Warns
05

- Micro, small, and medium enterprises received over half of business loans in WAEMU in 2024 - Bank ...

WAEMU: SMEs Secured 52% of Business Loans in 2024, Up From 49% in 2023 
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.