Agoa exports from Africa grow 70%

Nigeria takes top spot ALAN PEAT THE LATEST figures released by the US International Trade Commission show that exports from Africa to the US under the African Growth and Opportunity Act (Agoa) grew by over 30% in the first seven months of the year compared to the same period last year. For the 37 African countries eligible for these duty-free imports to the US, the total for January-July 2006 was over US$25.45-billion (about R185.8-bn) compared to US$19.58-bn (R142.9-bn) in the same period in 2005. The top three African export countries in that period were Nigeria, well away in number one spot with total Agoa - including general sales preference (GSP) - exports of R115.34-bn (R86.870bn in 2005); Angola with R44.08-bn (R26.4-bn); and SA with R8.2-bn (R6.45-bn). But the significant comparison for SA is in the total exports to US (including non-Agoa cargoes). In this, Nigeria exported a total of R127.47-bn, of which R115.34 was its Agoa (inc GSP) contribution. The comparative figures for Angola were a total of R44.76-bn, most of which was that R44.08-bn under Agoa. SA, however, exported a total to the US of R30.9-bn in the first seven months of 2006 according to the USITC, of which only R8.2-bn was Agoa and GSP products. This, the commission added, stemmed from the fact that Agoa benefits to Nigeria, Angola and Gabon (fourth biggest Agoa performer after SA) currently accrue almost exclusively through the export of ‘energy-related’ products – including oil and natural gas products. Besides this top four, significant Agoa exports have been from Lesotho, Madagascar and Kenya. However, USITC said, many Agoa-eligible countries in the year 2005 still recorded less than US$1-million worth of US-bound exports.