Overview of the Bilateral Trade Relationship Between Africa and Europe in 2023
- Jan 13, 2025
Overview of the Bilateral Trade Relationship Between Africa and Europe in 2023
The well-developed strong economic ties between the two have been indulging them as leading trade partners across the globe. The stable bilateral trade relationship leads to employment opportunities and higher living standards benefitting the growing economy. From industrial domestic necessities to agricultural requirements and mineral fuels essentials both the countries have been trading most of the requirements as per their production and acquisition rates.
The upward trajectory of the leading trade estates has increased since 2015, with a valuation of 346 billion US dollars proceeding towards a value of 520 billion US dollars in 2020, recording a staggering rate of 890 billion US dollars in 2023; this is representative of the positive outgrowth along with the passage of time. The attributing factors are the increased investment opportunities and improved infrastructure and transportation systems.
Top 10 Exports of Africa to Europe in 2023
Africa showing the resiliency of the trade management authorities over Europe's domestic acquisitions continues to export severe goods to Europe. According to the Africa Import Export Data, the top 10 exported African goods to Europe in 2023 are,
1. Mineral Fuels - Valuation of Mineral Fuels export from Africa to Europe in 2023 - 105 billion US dollars.
2. Precious Metals - Valuation of Precious Metals export from Africa to Europe in 2023 - 76 billion US dollars.
3. Agricultural products - Valuation of Agricultural products exported from Africa to Europe in 2023 - 59 billion US dollars.
4. Textiles - Valuation of Textiles exported from Africa to Europe in 2023 - 48 billion US dollars.
5. Precious Stones - Valuation of Precious Stones exported from Africa to Europe in 2023 - 45 billion US dollars.
6. Machinery & Equipment - Valuation of Machinery & Equipment export from Africa to Europe in 2023 - 38 billion US dollars.
7. Vehicles & Parts - Valuation of Vehicles & Parts exported from Africa to Europe in 2023 - 28 billion US dollars.
8. Chemicals - Valuation of Chemicals exported from Africa to Europe in 2023 - 18 billion US dollars.
9. Plastics & Rubber - Valuation of Plastics & Rubber export from Africa to Europe in 2023 - 12 billion US dollars.
10. Fish and Seafood - Valuation of Fish and seafood export from Africa to Europe in 2023 - 10 billion US dollars.
Top 10 Exporting Destinations of Africa to Europe
According to the Africa Trade Data, the total valuation of exports to Europe in 2023 stands at a staggering rate of 347 billion US dollars; the leading exporting destinations of the continent with the valuation are,
1. South Africa - According to the South Africa Export Data, valuation of exports to Europe in 2023 - 134 billion US dollars.
Top 5 exports to Europe
• Crude petroleum
• Cocoa beans
• Cobalt
• Zinc
• Titanium
2. Nigeria - According to the Nigeria Export Data, valuation of exports to Europe in 2023 - 59 billion US dollars.
Top 5 exports to Europe
• Manganese
• Lead
• Coffee
• Tea
• Tobacco
3. Angola - According to the Angola Export Data, valuation of exports to Europe in 2023 - 49 billion US dollars.
Top 5 exports to Europe
• Copper
• Iron ore
• Aluminium
• Sunflower seeds
• Sesame seeds
4. Egypt - According to the Egypt Export Data, valuation of exports to Europe in 2023 - 45 billion US dollars.
Top 5 exports to Europe
• Cotton
• Palm oil
• Sugarcane
• Wine
• Beer
5. Algeria - According to the Algeria Export Data, valuation of exports to Europe in 2023 - 38 billion US dollars.
Top 5 exports to Europe
• Coal
• Gold
• Diamonds
• Maize
• Sugarcane
6. Morocco - According to the Morocco Export Data, the valuation of exports to Europe in 2023 - 37 billion US dollars.
Top 5 exports to Europe
• Soyabean
• Pineapple
• Batteries
• Solar Panels
• Construction materials
7. Tunisia - According to the Tunisia Export Data, valuation of exports to Europe in 2023 - 36 billion US dollars.
Top 5 exports to Europe
• Tanzanite
• Emerald
• Garnets
• Organic chemicals
• Fertilizer
8. Ghana - According to the Ghana Export Data, valuation of exports to Europe in 2023 - 29 billion US dollars.
Top 5 exports to Europe
• Beef
• Poultry
• Agricultural goods
• Iron and steel
• Machinery
9. Kenya - According to the Kenya Export Data, valuation of exports to Europe in 2023 - 25 billion US dollars.
Top 5 exports to Europe
• Plastic articles
• Agricultural goods
• Textiles
• Medical equipment
• Timber
10. Côte d'Ivoire - According to the Côte d'Ivoire Export Data, valuation of exports to Europe in 2023 - 18 billion US dollars.
Top 5 exports to Europe
• Plywood
• Industrial chemicals
• Organic chemicals
• Essential minerals
• Textiles
FAQ'S
Que. Name the top exporting destination of Africa to Europe in 2023.
Ans. South Africa is the top exporting destination of Africa to Europe in 2023.
Que. What is the bilateral trade value of Africa and Europe in 2023?
Ans. The bilateral trade value of Africa and Europe in 2023 is 890 billion US dollars.
Que. What is the top export of Africa to Europe in 2023?
Ans. Mineral fuels are the top export of Africa to Europe in 2023.
Que. Where can you get a detailed trade analysis of Africa and Europe in 2023?
Ans. By subscribing to Import Globals, you can get a detailed trade analysis of Africa and Europe bilateral trade in 2023.
