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Africa’s output grew 3.4% in 2018, Afreximbank’s trade report shows

Published on June 24, 2019

Africa’s output grew by 3.4 per cent between 2017 and 2018 despite a slowdown in global growth during that period, a new report by the African Export-Import Bank (Afreximbank) has shown. The African Trade Report 2019: African Trade in a Digital World, launched in Moscow, Russia during the 26th Afreximbank Annual Meetings, indicates that Africa’s total merchandise trade in 2018 had a value of over $997.9 billion, noting that the continent remained one of the fastest growing regions in the world. World Trade Organisation estimates show that the volume of global merchandise trade grew by 3 per cent in 2018, down from 4.6 per cent in 2017. According to The African Trade Report 2019, the findings highlight the resilience of Africa’s economies to global volatility at a time of rising uncertainty, escalating trade wars and tariffs between the United States, and China and other countries. Read more. Source | New Times

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