Intra-African trade reached $220.3 billion in 2024, marking a 12.4 percent rise from the prior year. Experts are calling for faster implementation of the African Continental Free Trade Area (AfCFTA), warning that inadequate infrastructure, lingering tariffs, and weak policy coordination could erode its potential gains.
According to Afreximbank's African Trade Report, intra-African trade climbed to an estimated $220.3 billion in 2024, a 12.4 percent jump from the year before. This figure constitutes just 15 to 18 percent of the continent's overall trade, lagging far behind levels seen in Europe and Asia. Africa's broader merchandise trade, encompassing ties with the European Union, China, and other external partners, totaled around $1.5 trillion last year, underscoring its heavy dependence on international markets despite rising regional exchanges.
Specialists are pressing African nations to accelerate the rollout of the African Continental Free Trade Area (AfCFTA), cautioning that subpar infrastructure, persistent tariffs, and disjointed policy efforts risk squandering the agreement's advantages. Such hurdles could hinder the push for greater continental integration and reduce vulnerability to global trade disruptions. The report highlights the need for coordinated action to unlock AfCFTA's full economic promise, fostering more balanced growth across the region.
