Tuesday, June 07, 2011

Africa's trading partners: traditional and emerging

China overtook the United States as Africa’s number one trading partner in 2009. Africa’s trade volumes with its emerging partners have doubled in nominal value over the decade and now amount to 37% of Africa´s total trade. Africa’s top five emerging trade partners are now China (38 percent), India (14 percent), Korea (7.2 percent), Brazil (7.1 percent) and Turkey (6.5 percent). (Source: AfDB)

Europe and North America's trade share has quickly eroded, but they still account for more than half of Africa’s trade and foreign investment stock, and their economic health remains key to Africa’s growth performance.

Nevertheless, Africa’s rebalancing act turns the page on 50 years of over-reliance on the West, a period sometimes dubbed the post-colonial era. Links with the traditional partners face profound changes. (More about Africa's emerging partners in African Economic Outlook 2011)

No comments:

Previously on UpNaira