By NoGreeAfrica News Desk
Africa’s total merchandise trade rose sharply to 1.5 trillion dollars in 2024, but the continent still accounted for just 3.3 per cent of global exports, according to the 2025 African Trade Report by Afreximbank.
The report said the rebound followed a 5.4 per cent contraction in 2023, with total African trade rising by 13.9 per cent in 2024 as countries adjusted to global financial fragmentation and trade realignments.
It added that intra-African trade climbed to 220.3 billion dollars in 2024, representing a 12.4 per cent increase over 2023, a development the bank linked to growing momentum around continental integration and the African Continental Free Trade Area (AfCFTA).
Afreximbank, however, warned that the gains were still not enough to shift Africa decisively from its long-standing dependence on commodity exports. The bank said stronger industrialisation, regional value chains and trade finance would be needed if the continent is to deepen its place in global value chains.
The institution noted that a more fractured global financial order, marked by geopolitical rivalry and industrial policy competition, was reshaping Africa’s trade prospects at a time when the continent was pushing for deeper regional integration.
Analysts say the figures underline both opportunity and vulnerability for African economies. While the rise in intra-African trade suggests that regional markets are becoming more active, the low global export share points to continuing structural weaknesses in manufacturing capacity, logistics, trade finance and policy coordination. This is an inference drawn from the report’s data and conclusions.
For countries such as Nigeria, the numbers reinforce the urgency of moving beyond raw commodity dependence and building export strength in processing, manufacturing and services if they are to benefit more fully from AfCFTA. That is an editorial inference consistent with the report’s broader findings.
