Egypt and Morocco lead Africa’s trade deficit with a combined $50.8 billion

Key takeaways

  • Egypt and Morocco dominate Africa’s trade deficit, with a combined shortfall of $50.8 billion dollars, which surpasses the total deficit of the other eight countries on the list
  • North African economies — Egypt, Morocco and Tunisia — account for more than half of the total trade deficit across the top 10
  • East African economies also feature prominently, with Ethiopia, Kenya, and Tanzania making up a significant share of the deficit
  • Smaller economies like Rwanda and Uganda post notable deficits, though on a much smaller scale than their North and East African counterparts

Africa’s trade deficit is largely driven by two countries, Egypt and Morocco, whose combined $50.8 [billion shortfall] exceeds the total trade deficit of the next eight largest contributors. The presence of East African economies like Tanzania and Kenya suggests that multiple regions on the continent struggle with import dependency.

Source:

World Bank

Period:

2023
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