USTR's Office of African Affairs develops and coordinates U.S. trade and investment policy for the 49 countries of sub-Saharan Africa. The map highlights a number of global patterns, notably the importance of oil exports to many economies. 2000 2002 2004 2006 2008 2010 2012 2014 2016 2018 2020 Andorra. Going by this, here are the top 10 richest African countries in 2021. 2020. Prosper Africa The U.S. Government in December 2018 launched Prosper Africa to unlock opportunities to do business in Africa. ; TAX: There is a value added tax of 2 - 30 percent depending on the good, applied on CIF + duty; additional fees include clearing costs (2 percent applied on CIF), revenue stamp (0.5 percent applied on . African countries may be hit hard by any continuing halt to Ukraine's grain exports caused by the war, a report from Germany's Kiel Institute for the World Economy (IfW) said on Friday. They are Sao Tome/Principe (+165.9%), Western Sahara (+129.3%), French Southern and Antarctic Lands (+0.3%), Cape Verde (+53.2%), Lesotho (+43.8%), Burkina Faso (+23.4%), among others. The G7 countries committed Sunday to phase out its dependency on Russian oil as a move to pressure Putin by crippling Russia's economy. For example, Central African Republic's Exports rank is higher than 9.09% of the countries in the dataset. That per-capita amount exceeds the average $1,450 one year earlier in 2020. Africa's main trade in goods partner is the EU. Country Tariff and Tax Information. Across much of Asia and Africa, large numbers of countries shaded in red and orange indicate the importance of exports such as gold, iron ore, and coal to these nations. The country imported good worth US$ 17,376 million in 2018. Dark blue shading represents countries where oil is the biggest export and shows the importance of oil not just in the Middle East, but across Asia and Africa and South America. M-P467. Sub-Saharan Africa's food imports are not rising. Impact of Covid-19 on the South African economy iii Notes: Agri&ff = Agriculture, fishing and forestry, Trdacc = Trade and accommodation services, Fin&bs = Financial and business services. 4. GDP - $62,224 billion (2019) Per capita - $1,105 (2019) Global Ranking -74th. Table III.29 Merchandise trade of Western Europe, 1999 (file size 46KB) Table III.30 Merchandise trade of Western Europe by region and by major product group, 1999 (file size 50KB) Chart III.8 Merchandise trade of Western Europe, 1989-99 (file size 34KB) The 5 biggest African exporting nations (South Africa, Nigeria, Morocco, Egypt, Angola) generated 52.9% of the continent's overall exports by value. Chinese enterprises have also begun to realize the attractiveness of Africa's agricultural sector, with more than $415 million invested in 115 . . From 2019 to 2020, sixteen African countries increase the value of their export to other countries. In 2020, Cameroon became the top African exporter of processed wood, i.e. Eligible. Main exports: petroleum and petroleum products, chemicals, vehicles, aircraft parts, vessels, vegetable products, processed food Nigeria has been an economic powerhouse in Africa for decades. 09 - Coffee, tea, matF and spices. Given South Africa's population of 60.5 million people, its total $123.8 billion in 2021 exports translates to roughly $2,050 for every resident in the relatively wealthy African nation. As of the end of 2019, Nigeria holds the position of the richest country in Africa, with a GDP of almost $600B USD. Egypt: This North African country has the second highest GDP size in Africa. Due to the supply chain disruption by COVID-19, the value of China-Africa trade in 2020 was US$176 billion, down from US$192 billion in the previous year. Africa is the continent that has suffered the least economic damage. Ethiopia is a multi-cultural and multi-ethnic country. Export performance Africa's share in world trade remains small at only 3%, notwithstanding its rich endowments of mineral resources South Africa Exports By Country This page displays a table with South Africa Exports By Country in U.S. dollars, according to the United Nations COMTRADE database on international trade. Tanzania. 10. South Africa: $222.42M 2021 Japan: $202.31M 2021 Vietnam: $194.18M 2021 Kazakhstan: $193.10M . Introduction. United States South Africa - 160,000 Barrels Per Day. AfDB said this at a capacity-building workshop on addressing land degradation and ecosystem restoration in Abidjan on 5-6 May 2022 and attended by West African representatives from the ministries of planning and finance, environment, and . Subsequently the attainment of independence by a large number of African countries, especially in the early 1960s, followed by a bid for economic development, strengthened the export-expansion drive. Sub-Saharan Africa services export is 74,107,283,769.40 in BoP, current US$ and services import is 136,997,881,159.77 in Bop, current US$.Sub-Saharan Africa exports of goods and services as percentage of GDP is 24.97% and imports of goods and services as percentage of GDP is 27.56%. Conversely, European exports are focused on machinery and transportation. The Russian Federal Customs Service (FCS) has released data that shows for the first ten months of 2021, Russia's total exports reached $388.4 billion, an increase of 42.8% over 2020. Another reason for the rapid growth in African exports was the temporary increase in the price of primary commodities, although subsequently the . Trade among African countries accounted for 18 % of total (intra + extra . The southern-African country's economy is highly dependent on its hydrocarbon industry, with its crude oil sector driving economic growth and accounting for one-third of its GDP and more than 90% of its exports. South Africa Country Commercial Guide. The largest percentage of the exports from Africa, about 32%, go to Asian states, 26.3% to other African nations, while about 23.9% is exported to Europe. Exports of automotive products in 2018 accounted for $13.52 billion, equating to 14.3% of total South African exports. The report shows that the bulk of South African exports are concentrated in few mega firms who ship products to countries around the world, with approximately 1000 companies generating 93% of all of the country's exports. The economy of this country in North Africa is versatile and stable, experiencing growth in a number of industries over the last decade. An estimated 926,000 new employment were generated in Kenya during the last year, supporting the country's economic recovery. 1) Nigeria - Richest Country in Africa. Due to unavailable data the following . Feb 16, 2022. African countries have tremendous economic potentials, with rewarding opportunities for investors and partners. Nigeria has the highest GDP in Africa, standing at $514.05 billion in 2021. Information on sending completed 9080-3 Forms to the FSIS Proxy is available on the FSIS Export Library - Requirements by Country page or by clicking here. At $394.28 billion, it is the highest GDP in North Africa and one of the only three countries from the region in this top ten ranking. Conversely, for Unemployment and Inflation, a lower rank (closer to 0%) indicates a stronger economy. Table III.29 Merchandise trade of Western Europe, 1999 (file size 46KB) Table III.30 Merchandise trade of Western Europe by region and by major product group, 1999 (file size 50KB) Chart III.8 Merchandise trade of Western Europe, 1989-99 (file size 34KB) This site has the biggest selection anywhere of wholesale African clothing, African Black soaps, African artwork, African Musical instruments, and black skincare products. Botswana Burundi DR Congo Asia Pacific. Gabon's economy is reliant on its oil production, Oil revenue accounts for 56% of total government revenue. Moreover, many African countries, including Cameroon, Chad, Nigeria, and Somalia, . South Africa exports for 2019 was $104.92B, a 4.75% decline from 2018. The Administration seeks both to expand markets for U.S. goods and services in sub-Saharan Africa and to facilitate efforts to bolster African . In the recent past, African economies have been flourishing with the following countries making up the list of the top 10 largest economies in Africa. Challenging operating environment, with distinct niche areas of opportunity. Nigeria - GDP: $376.3 Billion Interesting observations about Economy > Exports > Main exports Factoid #22 The top nations for per capita imports and exports tend to be very small. This boosted the country's GDP and gave it the influence to overtake South Africa and become the number one country with the African biggest economy. Kenya's top import partners are China (21.1%), India (10.5%), Saudi Arabia (9.8%), United Arab Emirates (8.4%), Japan (5.7%) and South Africa (3.7%). The country's economy recorded a 6.1% growth between financial years 2019 and 2020. Gabon is the 9th largest oil producer in Africa and the 37th in the world with a daily production capacity of 240,000 barrels. by Agence France-Presse 08-05-2022 21:52 Chebe (pronounced shea bay) powder is a traditional hair growth remedy from Chad, Africa. 1 List by World Bank; 2 List of countries by merchandise exports by ITC. Documents listed here are downloadable in MS Excel format. As of 2021, Angola holds 13.5 trillion cubic feet of prove gas reserves, however, most of its production is flared or reinjected . As of 2019, it accounted for over 60 percent of the total exports - 35 percent transported as Liquefied Natural Gas (LNG) and 27 percent transported in gaseous state via pipelines. This has been due to a number of factors, not least being a Covid recovery, but also soft fundamentals as Russia has actively been seeking new export markets . Since 2008, Africa, along with Asia, is the only region with a rising trend in intraregional trade. The healthcare spending in the country is about 9% of GDP. Cameroon. Many countries are slowly recovering from the impacts of the COVID-19 pandemic, which has wreaked havoc on the global economy. At about 30.3 million km 2 (11.7 million square miles) including adjacent islands, it covers 6% of Earth's total surface area and 20% of its land area. Ghana's economy grew faster than any other in the world in 2011. Sub-Saharan Africa could boost its LNG exports to . With a market valued at $50.7 billion, Mexico's top export is cars—making it the fourth largest exporter worldwide. Or COTECNA Tariff Book or Angola Government Website (in Portuguese). African experts attending the 10th African Economic Conference in Kinshasa from November 2 to 4, called on African countries to reduce their excessive dependency on raw material exports and imported consumer goods, as the only viable way to reduce poverty and social inequality on the continent. 1. With 1.3 billion people as of 2018, it accounts for about 16% of the world's human population.Africa's population is the youngest amongst all the . The economic outlook for Sub-Saharan Africa (SSA) is positive, with growth rising to 5.3% in 2012, and 5.6% in 2013, over the pre-crisis average level of 5%. Quartile map of amount of exports per country. One-third of this GDP comes from oil exportation, which makes up 90% of Angola's exports. Its 160-million people have helped the country propel itself to be the largest consumer retailer in Africa, along with its petroleum exports. An Overview of Leading Industry Sectors. As the largest manufacturing sector in the country's economy, vehicle and component production accounted for 29,9% of South Africa's manufacturing output in 2018. South Africa exports for 2018 was $110.14B, a 6.35% increase from 2017. Documents listed here are downloadable in MS Excel format. 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