Thinking of exporting in North Africa?
Put together the five largest North African economies host approximately 200 million people, which represents 16% of Africa’s 1.2 billion. The region gathers six countries: #Algeria, #Egypt, #Libya, #Mauritania, #Morocco and #Tunisia.
According to the African Development Bank (AfDB), in 2020, growth is expected to be much stronger in Egypt and Mauritania, to improve somewhat in Morocco and Tunisia, but to slow in Algeria and Libya. Unfortunately, due to the #COVID19 situation, those forecasts are subject to change.
North Africa is the second-fastest growing economy in the continent with an average growth estimated at 4.1% for 2019. However, East Africa maintained its leadership with average growth estimated at 5% in 2019.
- Canada’s Top 5 export countries (2019*): Egypt, Algeria, Morocco, Tunisia and Libya.
- Canada’s Top 5 exports (2019*): Cereals, Aircrafts, Ores, Edible vegetables and Machinery.
- Canada’s Total exports to North Africa (2019*): $2,084,948 (Unit: Canadian Dollar thousand).
Here is a non-exhaustive list of growth opportunities for #Canadian exporting companies.
#exports #investment #exporting #globaltrade #internationalbusiness #trade #exporters #investors?
*Source: Statistics Canada and UN COMTRADE.
