AS US imports improved through 2002 following the 911 near-shutdown, African exporters under the Africa Growth and Opportunity Act (AGOA) gained strong growth, according to the latest AGOA update from Standard Bank’s Henry Flint. “This is evident from increased total exports to the US from beneficiary countries which have been supported by strong growth in exports under AGOA and the Generalised System of Preferences (GSP).” However, the big boom really began early this year, when total AGOA and GSP exports increased by 33% in the first quarter of 2003 compared with the final quarter of 2002. “This is a significant turnaround from the 26% decline recorded between the fourth quarter of 2001 and the first quarter of 2002.”
