After an unprecedented pandemic, protracted geopolitical conflicts and inflation, international trade has faced persistent difficulties. Africa was one of the most affected continents, facing an increase in commodities around 23.1%. Nevertheless, this is a continent where natural resources abound with immeasurable potential in exports that support trade resilience.
Currently Africa is source of several global trading commodities owning 30% of Mineral Reserves, 12% of Oil and 8% of Natural Gas from all over the WORLD!
Oil & Gas
Although there was a drop in demand for oil in 2020, as the world has “returned to normal” production levels have increased in countries such as:
- Nigeria
- Togo
- Cameroon
- Equatorial Guinea
- Gabon
- Libya
- Egypt
- Chad
- Angola
- South Sudan
Growth potential has increased especially in Europe, which has been confronted with oil and gas shortages due to impasses caused by protectionist measures.
Precious Metals and Minerals
As pressure grows in order to include metals in sanctions against Russia, African producers of precious metals are preparing to respond to the lack of supply that may exist.
- Gold
- Diamond
- Cobalt
- Bauxita
- Iron Ore
- Copper
There are some of the most abundant metals and minerals in nations such as Ghana, Mauritania, Namibia, Mozambique, Central Africa and the Democratic Republic of Congo.
Agricultural products
With 65% of the most fertile land and 10% of fresh water globally, this continent is a very important agricultural producer, exporting fresh products mainly to the Middle East and Europe.
- Coffee
- Flowers
- Tea
- Cocoa
- Palm Oil
- Citrus Fruit
- Grapes
- Fruit
These are some of the products that make this economic sector one of the most important in Africa, representing about 35 to 40 billion dollars in exports from the continent annually.
With branches in Angola and Mozambique, at Olicargo we promote international trade between Europe and Africa. We do market research and study the best way to develop transport solutions fully suited to your business. Get in touch with us to know more about our services!
Sources: Maersk. (2023). Africa’s trade potential for resilience in the face of unprecedented shocks. Consultado a 04 de julho de 2023, em: https://www.maersk.com/insights/resilience/africa-resilience?utm_source=salesforce_mc&utm_medium=email&utm_campaign=M_5E65E328CC50F_6464D7B9E84F0&utm_term=M_5E65E328CC50F_6464D7B9E84F0+Discover_more_Mod2_Image_Web_Other_NoVertical_Email_Body&utm_content=C3F204E1923F34D72DC37669D29E8EAFA5DC44251611A3181414225B6D5B8558
