Africa's Annual Exports Projected to Hit $540 Billion by 2030

Africa’s annual exports are expected to double to $540 billion by 2030 from a decade earlier, mainly on the back of shipments from Nigeria to the Asian nations of India, Indonesia and mainland China, and links between Kenya and Pakistan

According to Standard Chartered Bank Plc, India will be the largest and fastest-growing importer for Nigerian shipments, which are seen reaching $112 billion by 2030 from $44 billion in 2020.

Indonesia and mainland China will also remain key markets for Nigeria, accounting for 12% and 10% of exports respectively by 2030.

Kenyan exports to Pakistan — which have been predominantly tea — are expected to climb 11% annually to $1 billion by 2030.

In the decade through 2030, shipments from Kenya are projected at $10.2 billion from $4.9 billion, lifted by shipments to Uganda and the US, which will account for about 11% and 9% respectively.

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According to Standard Chartered Bank Plc, India will be the largest and fastest-growing importer for Nigerian shipments, which are seen reaching $112 billion by 2030 from $44 billion in 2020.

Indonesia and mainland China will also remain key markets for Nigeria, accounting for 12% and 10% of exports respectively by 2030.

Kenyan exports to Pakistan — which have been predominantly tea — are expected to climb 11% annually to $1 billion by 2030.

In the decade through 2030, shipments from Kenya are projected at $10.2 billion from $4.9 billion, lifted by shipments to Uganda and the US, which will account for about 11% and 9% respectively.

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