G20 Highlight: EU, US Join Forces To Promote the Trans-African Corridor

17 October 2023

G20 Summit 2023, held by the Indian presidency, put a spotlight on the Trans-African Corridor. The initiative highlights the partnership between the US as a country, and the European Union as a group of nations to come together and build an alliance with Africa as a continent. In the partnership for the Trans-African Corridor, the US and the EU will support Africa in the development of the three countries—Angola, Zambia, and DR Congo. The corridor will connect these major regions of Africa with potential values to the global trade markets via Angola’s Port.

A Joint Collaboration of Three Economies

The Trans-African Corridor will see the collaboration between the US and the EU to develop infrastructure across Sub-Saharan Africa. The partnership will combine financial and technical aspects to fully increase Africa’s potential, and contribute to a more extensive global trade.

The major focus is on the three countries of Africa, i.e., Angola, Zambia, and DR Congo, and it is important to remember that the overall trade between these nations can considerably improve Africa’s competitiveness and connectivity with other countries to ship goods and/or services.

US Trade With Africa – Trade Statistics

The US is among the top 5 trading partners of Africa, as per global trade statistics. The yearly trade values of the US with Africa registered—$36.8 billion for imports and $26 billion for exports in 2018, $31.1 billion for imports and $26.7 billion for exports in 2019, $24.4 billion for imports and $21.9 billion for exports in 2020, $38.6 billion for imports and $26.7 billion for exports in 2021, $43.1 billion for imports and $30.6 billion for exports in 2022.

The US traded with Africa as a region mainly in fuels & oils, vehicles, and their parts for 2022. The top imports of the US from Africa consist of—Fuels and Oils, Pearls and Metals, Knitted or Crocheted Apparel, Non-knitted or Crocheted Apparel, and Vehicles and Parts. The top exports of the US to Africa consist of—Fuels and Oils, Industrial Machinery, Vehicles and Parts, Oil Seeds and Fruits, Aircraft, Spacecraft, and Parts. Look at the data for the full details of trade.

The US trade with African countries is mainly with South Africa and Nigeria by value, as per global trade statistics 2022. The top African countries the US imported from include—South Africa, Nigeria, Algeria, Egypt, and Ghana. The top African countries the US exported to include—Egypt, South Africa, Morocco, Nigeria, and Algeria. See below for the trade values.

Africa Trade With The EU – Trade Statistics

Africa is among the top trading partners of the EU, sharing a significant amount of trade. The yearly values of Africa’s trade with the EU registered—$161.1 billion for imports and $147.5 billion for exports in 2018, $154.7 billion for imports and $139.2 billion for exports in 2019, $135.7 billion for imports and $103.7 billion for exports in 2020, $156.6 billion for imports and $159.6 billion for exports in 2021, $182.6 billion for imports and $229.5 billion for exports in 2022.

Africa’s most frequent & significant trade with the EU registered with France and Italy in 2022. The top partner countries of Africa from the EU for the imports are—France, Germany, Italy, Belgium, and Spain. The top partners of Africa for the exports from the EU are—Italy, Spain, France, the Netherlands, and Germany. Look at the data for the full details on bilateral trade.

The most common and highly valued commodity traded between Africa and the EU was fuels and oils, as per trade statistics 2022. The top imports of Africa from the EU include—Fuels and Oils, Industrial Machinery, Vehicles and Parts, Electronics, and Cereals. The top exports of Africa from the EU include—Fuels and Oils, Vehicles and Parts, Electronics, Stones and Metals, Ores and Slag. Look at the data below to gain a comprehensive view of the commodities trade.

EU Trade With The US – Trade Statistics

The US is among the top 5 trading partners of the EU, as per trade statistics. The yearly trade values of the EU with the US registered—$284.7 billion for imports and $406 billion for exports in 2018, $294.6 billion for imports and $420.1 billion for exports in 2019, $265.7 billion for imports and $395.9 billion for exports in 2020, $315.1 billion for imports and $466.7 for exports in 2021, $414.2 billion and $533.8 billion for imports and exports respectively in 2022.

The most commonly and highly valued traded commodity between the EU and the US in 2022 was industrial machinery, as per the trade statistics. The top imports of the EU from the US are—Fuels and Oils, Industrial Machinery, Pharmaceuticals, Optical Instruments, and Electronics. The top exports of the EU to the US are—Pharmaceuticals, Industrial Machinery, Vehicles and Parts, Electronics, and Optical Instruments. Look at the data to see trade values.

Optimizing The Mineral-Rich African Continent

The partnership between the United States of America and the European Union with the collaboration of African countries marks an important milestone for the development of Africa’s mineral-rich regions and global trade by building easy access and routes with each other.

The Trans-African Corridor will see a railway line connecting the mineral-rich Katanga province in Southern DR Congo (gold, silver, diamonds, uranium, platinum, cobalt, copper and more) with Northwestern Zambia ending at the Port of Lobito in Angola to contribute to a wider global trade.