Emerging partners go from the balcony to orchestra in a decade

It is easy to underestimate the importance that the new economic forces have taken on for Africa. People know China, India and the rest are a feature of Africa's economic landscape, but do they realise the magnitude of this importance, particularly as trading partners?

Table 6.2 shows the evolution of Africa’s exports, imports and total trade with emerging partners over the last decade. Among the clear trends, it shows that Africa's total trade has more than doubled in nominal terms from less than USD 247 billion to USD 629 billion.

Several other trends emerge. First, the share of trade volume conducted with the emerging forces has grown from approximately 23% to 39%. Over the same period, the share for traditional partners shrank from around 77% to 62% (Figure 6.3). 

Second, Africa's trade volumes with emerging partners grew remarkably between 2000 and 2009. China represented less than 5% of Africa’s trade at the start of the decade. This, however, tripled to nearly 16% by the end. The US share of Africa’s trade was more than three times China’s in 2000 but was surpassed by China in 2009. All the emerging partners together accounted for less than half of the European Union volume with Africa in 2000. By 2009 their share was almost equal, and on current trends they will soon overtake the EU. However, one should bear in mind that data in Table 6.2 and Figure 6.3 refer to merchandise trade. As much of Africa’s services trade is with traditional partners, their total share of trade is higher than that reflected by merchandise trade figures.