Intra-African trade reached a value of $208 billion in 2024, marking a 7.7% increase compared to 2023, according to a report published by the African Export-Import Bank (Afreximbank).
The report, titled African Trade and Economic Outlook (ATEO) 2025: African Resilience in a Changing World Order, attributes this growth primarily to the ongoing implementation of the African Continental Free Trade Area (AfCFTA).
This upward trend is a strong driver of regional integration and helps diversify both export products and destinations within the continent, reducing Africa's reliance on external markets.
The rise in intra-African trade is also due to the growing effectiveness of national trade policies and improvements in freight transport infrastructure. However, the report also highlights significant disparities among the continent’s sub-regions.
Southern Africa remains the leading hub of intra-African trade, accounting for $58.1 billion in trade with other regions, followed by West Africa ($52.8 billion), East Africa ($46.8 billion), North Africa ($31 billion), and Central Africa ($19.4 billion).
The key players in intra-African trade are South Africa (accounting for 25% of intra-African exports), Egypt, and Nigeria.
The report also notes that the total value of Africa’s intra- and extra-regional trade rose by 5.8% in 2024, reaching approximately $1.4 trillion. The European Union remains the continent’s top trading partner, ahead of China.
Despite slower economic growth among most of Africa's key trading partners—especially China and Europe—and rising geopolitical tensions due to the prolonged war in Ukraine and the conflict in the Middle East, Africa's exports of goods increased by 9.8% over the past year, reaching $682 billion. Imports also rose by 2.4%, totaling $719 billion. As a result, Africa reduced its trade deficit to $37 billion in 2024, down from $80 billion in 2023.
This strong export performance was supported by relatively stable commodity prices, with quarterly fluctuations limited to ±2% throughout the year.
Despite these notable gains, Africa's trade landscape remains vulnerable to global price volatility and external shocks. The report underscores the urgent need to accelerate industrialization, increase the production of higher value-added goods, and diversify economies to enhance trade resilience and unlock long-term sustainable growth opportunities.
It also confirms that the European Union remains Africa’s top trade partner (accounting for 31% of exports and 29% of imports), ahead of China (18.3% of imports and 12.6% of exports).
