Africa-Caribbean Trade Could Hit $1.65B Annually by 2030
A joint ITC and Afreximbank report finds 80% of Africa's export potential to the Caribbean remains untapped, with annual trade capable of reaching $1.65 billion.
Annual goods and services trade between Africa and the Caribbean could reach as much as $1.65 billion by 2030, according to a new report jointly published by the International Trade Centre (ITC) and Afreximbank. The findings were released in St. John's, Antigua and Barbuda, and underscore a significant gap between current trade flows and what the two regions are capable of achieving together.
The report estimates that roughly 80 percent of Africa's annual goods export potential to the Caribbean remains unrealized, pointing to a structural opportunity that policymakers and private-sector actors have yet to fully exploit. The analysis suggests that closing even a portion of this gap could yield substantial economic benefits for both regions.
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ITC and Afreximbank framed the findings as a call to action, highlighting that stronger bilateral trade linkages could diversify export markets for African producers while giving Caribbean economies access to a broader range of competitively priced goods. The institutions did not detail specific commodity categories in the excerpted findings, but the scale of untapped potential implies wide-ranging sectors are involved.
The report arrives at a moment of heightened global interest in South-South trade corridors, as developing economies seek to reduce dependence on traditional northern trading partners. Africa and the Caribbean share historical, cultural, and economic ties that proponents argue make deeper commercial integration both logical and achievable before the decade's end.
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