{"id":31625,"date":"2023-06-29T10:40:21","date_gmt":"2023-06-29T10:40:21","guid":{"rendered":"https:\/\/www.africa-press.net\/mauritius\/all-news\/top-destinations-for-africas-exports"},"modified":"2023-06-29T11:07:27","modified_gmt":"2023-06-29T11:07:27","slug":"top-destinations-for-africas-exports","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/mauritius\/all-news\/top-destinations-for-africas-exports","title":{"rendered":"Top Destinations for Africa\u2019s Exports"},"content":{"rendered":"

Africa-Press – Mauritius. <\/strong><\/span>Just under 30 years ago, exports originating from countries in Africa sat at $106 billion annually, primarily going to nations in the West. By 2020, Africa\u2019s exports had more than tripled, but now with Asia as the primary destination.<\/p>\n

The world\u2019s second-largest continent, much of the value of Africa\u2019s exports are concentrated in natural resources like petroleum, gold, diamonds, natural gas, and coal.<\/p>\n

Agricultural commodities like tea, coffee, and cotton also find large markets overseas. Which countries are the top destinations for Africa\u2019s exports?<\/p>\n

This graphic from Sebastian Gra\u0308ff uses data from Harvard University\u2019s Atlas of Economic Complexity, the World Bank, and Bloomberg to track total exports from African countries over the years.<\/p>\n

Countries receiving a 1% or greater share of total exports have been included, and percentages have been rounded. Tracking Africa\u2019s Exports Between 1995 and 2005<\/p>\n

The U. S. was the top destination for African goods for many years, led by the country\u2019s demand for petroleum products. At its peak in 2005, the U. S.<\/p>\n

received one-fifth of the continent\u2019s exports, valued at $55 billion. Here\u2019s a look at all the countries that had a 1% or greater share of Africa\u2019s total export value at some point from 1995 to 2005.<\/p>\n

Western European countries\u2014Italy, France, Spain, Germany, Belgium and the UK\u2014also accounted for a significant share of Africa\u2019s exports throughout this time period.<\/p>\n

Part of this was due to century-old relationships and colonial legacies, but trade was also encouraged by initiatives like the 1976 Lome\u0301 Convention, which gave products from developing African countries (particularly former colonies) duty-free access to European markets in exchange for developmental aid.<\/p>\n

During the mid-2000s, China also started to take up a growing share of the continent\u2019s exports, as its rapid industrialization led to skyrocketing demand for commodities such as oil, iron ore, and copper\u2014all key African exports.<\/p>\n

Asia\u2019s Growing Export Share Between 2010 and 2020 By the year 2010, as African exports topped the $481 billion per year mark, the global market was rapidly starting to change.<\/p>\n

For starters, thanks to a considerable increase in domestic oil and natural gas production, the United States began cutting back on African petroleum imports.<\/p>\n

At the same time, China had been actively seeking resources and investment opportunities in the developing world as part of its greater geopolitical strategy.<\/p>\n

By 2015, it had surpassed the U. S. as Africa\u2019s primary export destination, marking a shift in the continent\u2019s trade dynamics. Here\u2019s a look at all the countries with a 1% or greater share of Africa\u2019s total export value from 2010 to 2020.<\/p>\n

China was joined in the top three ranks by India and the UAE, who were also experiencing rapid industrialization and growing demand for African commodities.<\/p>\n

In 2020, nearly 40% of Africa\u2019s exports found a market in Asia, led by China and India\u2019s significant trade volumes. In comparison, Western Europe had started relinquish both its share and value of African goods imported.<\/p>\n

Alongside growing demand from developing countries, there became greater diversification in African export markets, with countries from Asia (Malaysia, Pakistan), Eastern Europe (Poland, Russia), and within Africa (the Democratic Republic of the Congo, Uganda), accounting for growing shares of African exports.<\/p>\n

The Future of the African Export Market Though Africa\u2019s largest export markets are outside the continent for now, there is vast untapped potential for inter-regional exports, which stood at only 15% of total export value in 2020.<\/p>\n

There is movement to expand on this trade, with the African Continental Free Trade Area (AfCFTA) established in 2018 to reduce trade barriers between African countries.<\/p>\n

According to UN estimates, it has the potential to create a $3 trillion market within the continent alone. With one of the fastest-growing regional populations, the African continent\u2019s economic stakes have never been higher. So who will end up dominating Africa\u2019s trade landscape in the decades to come?<\/p>\n

For More News And Analysis About Mauritius<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Mauritius. Just under 30 years ago, exports originating from countries in Africa sat at $106 billion annually, primarily going to nations in the West. By 2020, Africa\u2019s exports had more than tripled, but now with Asia as the primary destination. The world\u2019s second-largest continent, much of the value of Africa\u2019s exports are concentrated […]<\/p>\n","protected":false},"author":84,"featured_media":31624,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[242,233,245,241],"class_list":["post-31625","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa","tag-africa-press","tag-africa-press-mauritius","tag-mauritius"],"yoast_head":"\nTop Destinations for Africa\u2019s Exports - Mauritius<\/title>\n<meta name=\"description\" content=\"Just under 30 years ago, exports originating from countries in Africa sat at $106 billion annually, primarily going to n ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/mauritius\/all-news\/top-destinations-for-africas-exports\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Top Destinations for Africa\u2019s Exports\" \/>\n<meta property=\"og:description\" content=\"Just under 30 years ago, exports originating from countries in Africa sat at $106 billion annually, primarily going to n ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/mauritius\/all-news\/top-destinations-for-africas-exports\" \/>\n<meta property=\"og:site_name\" content=\"Mauritius\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-06-29T10:40:21+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-06-29T11:07:27+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/mauritius\/sites\/61\/2023\/06\/sm_1688020600.688363.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"466\" \/>\n\t<meta property=\"og:image:height\" content=\"243\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/top-destinations-for-africas-exports#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/top-destinations-for-africas-exports\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Top Destinations for Africa\u2019s Exports\",\"datePublished\":\"2023-06-29T10:40:21+00:00\",\"dateModified\":\"2023-06-29T11:07:27+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/top-destinations-for-africas-exports\"},\"wordCount\":657,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/top-destinations-for-africas-exports#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/mauritius\/sites\/61\/2023\/06\/sm_1688020600.688363.jpg\",\"keywords\":[\"Africa\",\"Africa Press\",\"Africa Press-Mauritius\",\"Mauritius\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/mauritius\/all-news\/top-destinations-for-africas-exports#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/top-destinations-for-africas-exports\",\"url\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/top-destinations-for-africas-exports\",\"name\":\"Top Destinations for Africa\u2019s Exports - 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