14
Oct
Synopsis
•During the 2012/2013 period, the value of total trade between the EU and Africa declined by 2% from approximately US$ 429 billion in 2012 to approximately US$ 420 billion in 2013. The total trade decline can be attributed to a decrease in the value of exports from African countries to the EU. Over these twelve months African exports to the EU decreased by 7.4%, while EU exports to African countries increased by 4.9%. In value terms, African exports to the EU declined by approximately US$ 18 billion, while EU exports to African countries increased by approximately US$ 9.5 billion during this period.
• At the HS4 level, the products which have contributed most to the decline in African exports include crude oil (HS 2709 – 50% decline); petroleum gases and other gaseous hydrocarbons (HS 2711 with a 34% decline) and gold in unwrought, semi-manufactured or powdered form (HS 7108 – 27% decline).
• In 2013 the top 20 products (at the HS 4 level) the EU imported from Africa represented 79% of the EU’s total imports from all African countries, while the top 20 products exported by the EU to Africa represented only 40% of the EU’s total exports to Africa. This shows that the EU’s imports from African countries are fairly concentrated, while
EU exports to Africa are more differentiated.
Read the full synopsis and its complementing spreadsheet on tralac’s website: http://www.tralac.org/resources/our-resources/6125-eu-africa-trading-relationship.html