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 projected to reach $1.65 billion.
Annual trade in goods and services between Africa and the Caribbean could reach as high 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, underscoring growing institutional interest in deepening economic ties between the two regions.
The report highlights a significant gap between current trade flows and achievable potential, estimating that roughly 80 percent of Africa's annual goods export capacity to the Caribbean remains unrealized. That untapped share represents a substantial opportunity for exporters, policymakers, and development finance institutions on both sides of the Atlantic.
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ITC and Afreximbank framed the analysis as a roadmap for reversing years of underperformance in South-South trade corridors. Both organizations have signaled interest in using the data to guide targeted interventions, including trade facilitation measures and financing mechanisms designed to lower barriers for small and medium-sized enterprises operating across the two regions.
The projections arrive as African economies accelerate integration under the African Continental Free Trade Area and Caribbean nations seek to diversify their trading partnerships beyond traditional partners in North America and Europe. Analysts not affiliated with the report have noted that logistics infrastructure and regulatory harmonization remain persistent bottlenecks that could limit how quickly the identified potential translates into realized trade volumes.
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