Australia - Africa Economic Forum.....

International trade has been a great stabilizer for many countries, contributing to economic expansion even at times of slackening domestic demand.....

Overview of Australia’s existing trade and investment relationships with the countries of Africa

The continent of Africa, second only to Asia in both landmass and population, is diverse geographically, culturally, linguistically, and economically. Comprising 54 sovereign states, nine territories, and two de-facto independent states, Africa is home to over 1.2 billion people.

This number is increasing sharply, however, with African nations boasting some of the youngest and most rapidly growing populations in the world.

Submissions emphasized the importance of recognizing that Africa cannot be described or analyzed as a single market but is comprised of discrete economies with separate opportunities.

The Department of Foreign Affairs and Trade (DFAT) provided information on trade between Australia and individual African economies.

This data indicates that the goods trade with South Africa is, by a wide margin, Australia’s most valuable trade relationship with an African country. In 2016, Australia’s trade with South Africa was valued at over $2 billion.

Australia also maintains trade relationships with several other African countries that, in 2016, were valued at over $100 million. These include Algeria, Egypt, Gabon, Ghana, Mauritius, Mozambique, Nigeria, and Republic of the Congo.

Australia’s major merchandise exports to Africa, in 2016, were largely concentrated in the primary industries, with aluminum ores, wheat, coal, vegetables, meat and wool all featuring in the top 10 exports. Civil engineering equipment and parts, and specialized machinery, together formed 12 per cent of merchandise exports to Africa.