African Share of Global Trade Remains Below 3%: Report”

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According to a report assessing progress on regional integration in Africa by the Economic Commission for Africa (ECA), the continent’s share of global trade remained below three percent in 2023, primarily driven by merchandise trade.

Despite efforts, African nations still conduct more trade with countries outside the continent than among themselves.The report highlighted that while there has been progress in monetary and financial integration, member states have not met the macroeconomic convergence criteria.

Stephen Karingi, the Director of the ECA’s Regional Integration and Trade Division, emphasized that unconstitutional changes in government, unemployment, and poverty are among the top challenges facing Africa.

Source: PUNCH

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