(Ecofin Agency) - • Trade between African countries rose 7.7% in 2024, reaching $208 billion.
• Growth is tied to the African Continental Free Trade Area and better trade policies.
• Southern Africa led the way, followed by West and East Africa.

Trade between African nations continued to grow in 2024, reaching $208 billion—up 7.7% from the previous year, according to a new report from the African Export-Import Bank (Afreximbank). The report, published on March 30 and titled African Trade and Economic Outlook 2025: African Resilience in a Changing World Order, points to growing regional integration as the key driver of this growth.

Much of the momentum came from the ongoing rollout of the African Continental Free Trade Area (AfCFTA), which is helping to open borders, diversify trade flows, and reduce Africa’s reliance on external markets. Countries are now trading more goods with one another, across a wider range of sectors and destinations.

Better national trade policies and improved transport infrastructure have also played a role. However, the report notes that progress is uneven across the continent. Southern Africa led intra-African trade in 2024, accounting for $58.1 billion in exchanges with other regions on the continent. West Africa followed with $52.8 billion, ahead of East Africa ($46.8 billion), North Africa ($31 billion), and Central Africa ($19.4 billion).

South Africa continues to dominate intra-African exports, making up a quarter of all such trade. Egypt and Nigeria also remain key players.

Looking at Africa’s total trade—both within the continent and with the rest of the world—volumes grew 5.8% last year, reaching about $1.4 trillion. The European Union held its place as Africa’s top trading partner, ahead of China.

Even with slower growth among major trade partners like China and the EU, and amid geopolitical tensions stemming from ongoing conflicts in Ukraine and the Middle East, African exports rose by nearly 10% in 2024 to $682 billion. Imports grew more modestly, up 2.4% to $719 billion. As a result, Africa managed to shrink its trade deficit to $37 billion—down from $80 billion the year before.

A key factor behind the strong export performance was the relative stability in commodity prices, which stayed within a narrow ±2% range throughout the year. That steadiness gave African economies a bit of breathing room in an otherwise uncertain global environment.

Still, the report warns that Africa’s trade remains vulnerable to outside shocks and volatile prices. To build stronger foundations, Afreximbank says the continent must speed up industrialization, focus on producing higher-value goods, and keep pushing for economic diversification. These steps, the report says, are crucial for building a more resilient trade system and unlocking long-term growth.

The European Union remains Africa’s top trade partner, accounting for 31% of exports and 29% of imports. China follows, with 18.3% of imports and 12.6% of exports.