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Africa Trade Statistics on the economy and trade

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  • Africa Trade Statistics on the economy and trade

    The expansion and development of the continent have been significantly influenced by the Africa Trade Data. Africa has seen a consistent rise in commercial activities throughout the years, both within the continent and with the rest of the world. Trade is essential for fostering economic integration, generating jobs, and reducing poverty in Africa.

    Through programmes like the Africa Continental Free Trade Area (AfCFTA), there has been a considerable effort in recent years to improve intra-African trade. The goals of the AfCFTA, which went into effect in January 2021, are to promote regional economic integration, make it easier to move money around, and create a unified market for products and services. Through the removal of tariffs and the simplification of trade processes, this agreement has the potential to greatly increase trade inside Africa.

    According to trade data, Africa's trade has experienced growth. Africa's overall merchandise exports climbed from $534 billion in 2010 to $760 billion in 2019, according to data from the United Nations Conference on Trade and Development (UNCTAD).

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