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Standard Chartered Bank has predicted that Africa’s total exports will reach USD952 billion by 2035. In its report: ‘Future of Trade: Africa,’ which highlighted the outlook for African trade and provided a view of the African Continental Free Trade Area (AfCFTA) as a key proponent of optimising intra-African trade, also stated that AfCFTA, once fully implemented, has the potential to increase this figure by a further 29 per cent
Standard Chartered Bank has predicted that Africa’s total exports will reach USD952 billion by 2035. In its report: ‘Future of Trade: Africa,’ which highlighted the outlook for African trade and provided a view of the African Continental Free Trade Area (AfCFTA) as a key proponent of optimising intra-African trade, also stated that AfCFTA, once fully implemented, has the potential to increase this figure by a further 29 per cent.
According to the bank, this represents a yearly growth rate of three per cent from now till 2035. The report also stressed that rising regional trade levels and greater connectivity will unlock high‑growth corridors across Africa and beyond. Intra-Africa trade is expected to reach $140 billion by 2035, equating to 15 per cent of Africa’s total exports. Africa’s corridors with some of the world’s most dynamic regions will grow faster than the global average of 4.3 per cent.
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It further stated that the East Africa-South Asia corridor is expected to emerge as the fastest-growing major corridor at 7.1 per cent per year through 2035. “The Middle East-North Africa and the Middle East-East Africa corridors will also be substantial, with their combined trade volume expected to reach almost $200 billion by 2035.
