Africa-Caribbean Trade Could Hit $1.65B Annually by 2030
A joint ITC-Afreximbank report finds 80% of Africa's export potential to the Caribbean remains untapped, with bilateral trade capable of reaching $1.65 billion.
Annual trade in goods and services between Africa and the Caribbean could climb as high as $1.65 billion by 2030, according to a new report jointly published by the International Trade Centre and Afreximbank. The findings were released in St. John's, Antigua and Barbuda, underscoring growing institutional interest in deepening economic ties across the Atlantic.
The report's most striking conclusion is that roughly 80 percent of Africa's annual goods export potential to the Caribbean currently goes unrealized. That gap represents a substantial commercial opportunity for exporters, policymakers, and investors on both sides, suggesting existing trade infrastructure and agreements have yet to channel available supply toward willing markets.
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The ITC and Afreximbank framed the analysis as a call to action for governments and private-sector stakeholders to build the trade corridors, financing mechanisms, and logistics networks needed to close the gap before the decade ends. The two institutions have positioned themselves as central facilitators in that process, lending the report both analytical weight and institutional backing.
The potential growth identified aligns with broader efforts by African and Caribbean nations to reduce dependence on traditional trading partners in Europe and North America by cultivating South-South commerce. Achieving the $1.65 billion target would require sustained policy coordination, improved port connectivity, and expansion of trade finance tools tailored to smaller economies on both sides.
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