Browsing: Trade

The Central African Republic was the 186th largest exporter in the world in 2020 with a total export value of US$127 million. The country's exports decreased by US$26.1 million over the past five reported years, from US$153 million in 2015 to US$127 million in 2020.

Rough wood which contributed US$51.9 million in export earnings, gold (US$34.7 million), diamonds (US$14.7 million), sawn wood (US$9.55 million) and refined copper (US$6.66 million) are the most recent export leaders. China (US$50.8 million), the United Arab Emirates (US$37.3 million), Italy (US$12.2 million), Belgium (US$6.84 million), and France (US$4.5 million) are the Central African Republic's top export markets.…

• When the United Nations General Assembly voted overwhelmingly on March 2 to condemn Russia’s invasion of Ukraine, African countries accounted for almost half of the 35 abstentions including South Africa.
• The conflict triggered by Russia’s invasion has complicated the challenges and sources of stress already facing Southern Africa.
• A few countries are sensing long-term growth opportunities from the crisis. Specifically, Africa’s natural gas could reduce Europe’s dependence on Russian energy.

Russia’s invasion of Ukraine has upended the existing world order and with it the global energy, production, distribution, and financial systems. Russia and China are openly challenging the Pax Americana. But the question of what the next world order will look like remains wide open.

On February 24, 2022, Russia launched a large-scale invasion of Ukraine, its neighbour to the southwest, marking a dramatic escalation of the Russo-Ukrainian War that began in 2014, Putin announced a “special military operation” in…

• China’s GDP is central to the global economy and especially in Africa
• The Asian country’s economy is integrated with nearly every sphere of global trade from manufacturing to finance and mining
• This means that when China does well economically so do African countries

The AFCFTA will transform Africa if it can be implemented.

China is an integral part of the global economic matrix. The Asian behemoth is responsible for the economic well-being of a litany of countries in the world.

Much of the economic growth enjoyed by numerous countries owes itself to and is sponsored by China’s economic activity either in whole or in part. China’s mass urbanization gave a spark to producers of natural commodities who continue to rely on the Asian country’s appetite for these natural resources for their income.

China went from being a pure-play communist republic to a hybrid capitalistic society of sorts owing to its…

The practical implementation of the AfCFTA, the expanding middle class, the evolving consumer market, enhanced use of financial technology and services, and the efficiency of the vibrant private sector will all be enablers of African export diversification and long-term economic growth.…

The widespread adoption of information and communication technology (ICT) by manufacturing companies the world-over is driving competition and permanently disrupting the playing fields.

According to an article by Cision PRNewswire published on May 11, 2022, the competition for a strong manufacturing industry is a global one, and initiatives to promote and advance manufacturing from other governments include Germany's "Industrie 4.0",  France's "Industrie du Futur," and China's "Made in China 2025".

Japan has planned Society 5.0 (Industry 4.0), targeting its economic and social challenges, such as an aging population, labor shortages, and weak growth through advanced technologies. Germany Industrie 4.0 Initiative aims to create an industry infrastructure fit for sustainable future manufacturing in the country.

Recently, African countries have made promising progress towards industrialization, exhibited in the continent’s strategic framework for leveraging the pan-African drive for achieving inclusive and sustainable development, Agenda 2063.

However, the continent has faced unprecedented disruption over…