A chronic problem in West Africa is the low savings rate, and hence the lack of financial resources for investment.
Africa’s major economic sectors
South Africa is not only completely self-sufficient in agricultural products, but is one of only six countries in the world that is able to export agricultural products on a regular basis.
West Africa: Economic Review
West Africa is one of the four subregions of sub-Saharan Africa, which, however, holds a special place both in history and in the economy of the Black Continent.
Traditional trade routes, objects of trade
A huge role in the history of Africa was played by long-distance caravan trade, which developed by the end of the first millennium A.D.
Africa’s changing place and role in the IER
From the point of view of economic science and commercial practice, modern international trade is an inseparable fusion of trade in goods and services.
Trans-Saharan trade
Trans-Saharan trade requires travel across the Sahara between sub-Saharan Africa and North Africa. While there is from prehistoric times
Dynamics and trends of foreign trade turnover
For most African countries, merchandise exports are the main source of foreign exchange earnings.
Tariff and non-tariff barriers
The vast majority of African countries are members of the World Trade Organization (WTO). Only Algeria, Libya, Sudan, South Sudan, Ethiopia, Eritrea, Somalia, Comoros
Africa’s foreign economic relations
Since the outbreak of World War II, Africa’s total foreign trade has expanded significantly. The growth compares favorably with other developing regions such as Latin America
Domestic Trade
Intra-African trade records often underreport trade, partly because of a lack of adequate statistics and partly because of high levels of smuggling