The trade deficit Africa recorded in exchanges with the European Union (EU) dropped by 95.2 % between 2015 and 2018, according to data provided by the European Commission.
While Africa suffered a €21 billion deficit in exchanges with the EU in 2015, the figure significantly shrunk to only €1 billion in 2018. This is way below the $14 billion deficit recorded with Russia and the $6 billion deficit with China.
The European Commission said the strong recovery of Africa is driven by the increase of exports. From €133 billion in 2015, African exports to the EU jumped 13.5% to €151 billion last year. Meanwhile, imports from the EU slightly dropped from €154 billion in 2015 to €152 billion in 2018.
Last year, over 65% of goods shipped to the EU from Africa included agricultural, mining, and energy primary goods; while 70% of goods exported from the EU were manufactured goods.
Over the period, Central, Southern, and Western Africa recorded a trade surplus of €2 billion. Northern and Eastern Africa saw a deficit of about €6 billion (in the entire Maghreb region).
Moutiou Adjibi Nourou
(MCB) - The Mauritius Commercial Bank Limited (“MCB”) has successfully granted a strategic financing...
MTN Innovation Lab hosts Africa HealthTech Export 2025 Bootcamp in Cotonou Event targets s...
Public Eye claims over 90% of Cerelac samples in Africa contain added sugar, averaging 6 g per por...
Attack risks internet disruptions; investigation launched near Massakory EU-funded project aims ...
China says Premier Li Qiang will attend instead of President Xi Jinping The U.S. and Russia also ...
Sahel states sign cross-border radio frequency deal to reduce signal interference Agreement boosts digital cooperation, includes plans for joint...
Ethiopian Airlines orders six more Airbus A350-900s to expand long-haul fleet New jets support Vision 2035 goal of 250+ aircraft and lower...
Air Côte d'Ivoire orders four Embraer E175s, eyes regional fleet upgrade New jets to boost efficiency, support Abidjan's hub ambitions...
Burkina Faso suspends 2025-2026 shea-nut exports to aid local processors Authorities cite raw material shortages, smuggling to neighboring countries ...
Orange Egypt and Qatar’s Qilaa International Group have partnered to develop WTOUR, a digital platform offering trip planning, hotel bookings, local...
Singita will invest $60m to build a 60-bed lodge on Santa Carolina Island and $42m in projects across the Bazaruto Archipelago. The...