Africa: COVID-19 to Cost Billions in African Exports

Geneva — COVID-19 is having a profound impact on global trade and the businesses that drive it, says a new report by the International Trade Center (ITC). The report highlights the devastating effect the pandemic is having on the small and medium enterprises so important to Africa's economies.

The SME (small and medium-sized enterprises) Competitiveness Outlook predicts that African exporters are set to lose more than $2.4 billion in global industrial supply-chain exports. The expected losses are a result of factory shutdowns in China, the European Union and the United States.

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