Standard Chartered report sees Africa’s total exports nearing $1trn by 2035

Standard Chartered has published its Future of Trade: Africa report, highlighting the outlook for African trade and providing a view of the African Continental Free Trade Area (AfCFTA) as a key proponent of optimising intra-African trade.

The report finds that Africa’s total exports will reach $952 billion by 2035 and the AfCFTA, once fully implemented, has the potential to increase this figure by a further 29 percent. This represents an annual growth rate of 3 percent from now until 2035.

Rising regional trade levels and greater connectivity will unlock high‑growth corridors across Africa and beyond. Intra-Africa trade is expected to reach $140billion by 2035, equating to 15 percent of Africa’s total exports.

Source: Business Day