According to the latest report from the United Nations Economic Commission for Africa (UNECA), Africa's share in global trade remains below 3%. The UN commission highlights the barriers to overcome in order to change this situation.
The UNECA report underscores the dynamics of global trade and, conversely, the slow regional integration in Africa, revealing that trade between African countries remains significantly lower than with the rest of the world.
The document also emphasizes the decline in intra-African trade, which decreased from 14.5% to 13.7% between 2021 and 2022.
Africa's regional integration program is progressing slowly, as despite advances in areas such as monetary and financial integration, macroeconomic convergence criteria have not been fully met, the report concludes.
Infrastructure remains a major challenge for the continent. Progress has certainly been made in several segments, notably roads and information and communication technologies, but railway transport and energy infrastructure are lagging behind. However, these findings need to be nuanced as the realities of African countries and different regions of the continent vary.
Overall, notes the CEA, there is an urgent need for infrastructure financing in Africa, with an estimated annual deficit ranging from $130 to $170 billion.
Furthermore, the report indicates that gender disparities persist, with only 32% of the female population using the internet compared to 42% of the male population, well below global averages.
Reports to be unveiled on International Women's Day will further highlight this issue.
