Nigeria: Intra-African Trade Hits U.S.$131.1 Billion

15 July 2013

Despite several restrictions that inhibit the movement of goods and services in the continent, the intra-African trade (both exports and imports) stood at $131.1 billion (N20.7 trillion) in 2011, a report by the United Nations Conference on Trade and Development (UNCTAD) has revealed.

The report also revealed that the share of intra-African trade fell from 22.4 per cent in 1997 to 11.3 per cent in 2011. The report titled, "The Economic Development in Africa Report 2013," was subtitled, "Intra-African Trade: Unlocking Private Sector Dynamism."

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