Africa-Caribbean Trade Could Hit $1.65 Billion by 2030, Report Finds
A joint ITC-Afreximbank report says 80% of Africa's export potential to the Caribbean remains untapped, with annual trade projected to reach $1.65 billion by 2030.
Annual trade in goods and services between Africa and the Caribbean could reach as much as $1.65 billion by 2030, according to a new report jointly released by the International Trade Centre and Afreximbank. The findings were unveiled in St. John's, Antigua and Barbuda, underscoring growing institutional interest in deepening economic ties between the two regions.
The report's most striking conclusion is that approximately 80% of Africa's annual goods export potential to the Caribbean currently goes unrealized. That gap represents a significant commercial opportunity that policymakers and trade bodies on both sides of the Atlantic are being urged to address through targeted agreements and infrastructure investments.
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The projection of $1.65 billion excludes certain categories of trade, suggesting the total addressable market could be even larger once all sectors are factored in. The ITC and Afreximbank framed the findings as a call to action, pointing to the structural and logistical barriers that have historically limited direct commerce between African nations and Caribbean markets.
Analysts note that the African Continental Free Trade Area and the Caribbean Community's existing trade frameworks could serve as complementary platforms for accelerating bilateral commerce, though the report itself does not speculate beyond the documented data. Closing even a fraction of the identified gap would represent meaningful economic gains for exporters and importers in both regions.
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