According to a report released by the African Export-Import Bank (Afreximbank), Angola is among the top five African countries with the highest trade volumes with the rest of the world, in a list led by South Africa.
“The five largest African economies — Algeria, Angola, Egypt, Nigeria, and South Africa — made significant contributions to the region’s export growth, accounting for over 56.6% of total continental exports in 2024,” reads the report, unveiled in Abuja during the bank’s Annual Meetings.
The report also highlights that “the exceptional growth in exports from key oil-producing countries, particularly Angola (130.3%) and Nigeria (113%), was one of the main drivers of the continent’s impressive export performance” last year.
Overall, African exports increased by 21% to $758 billion USD (around €646 billion), according to the Afreximbank data.
Intra-African trade, which had dropped by nearly 6% in 2023, rose 12.4% last year to $220 billion USD, and trade with the rest of the world also rebounded after a previous decline, the report notes.
South Africa, the most industrialized economy in sub-Saharan Africa, “maintained its position as the leading intra-African trading nation” in 2024, with trade volumes reaching $42.1 billion USD, a 7.5% increase from 2023. This growth was mainly driven by strong ties within the Southern African Customs Union (SACU) and the Southern African Development Community (SADC).
Afreximbank further states that “intra-African trade showed remarkable resilience, supported by the recovery of major economies such as South Africa, Nigeria, and Morocco.”
Source: Forbes África Lusófona
