Agoa exports head for third record-breaker

2004 could exceed R84bn EXPORT FIGURES from sub-Saharan Africa in the first quarter bode well for a third year of consecutive export growth. That’s the word from Erran Persley of the Southern Africa Global Competitiveness Hub Gaborone who says Agoa eligible exports have been a major contributing factor to export growth and development. “In 2002, total Agoa exports to the US were valued at $9billion (R63bn), a 10% increase from 2001. In 2003, Agoa exports reached $10.2 billion (R71.4bn). If the current exporting trends continue throughout the rest of this year Agoa exports could exceed $12 billion (R84bn) for 2004,” he said. The US Department of Commerce recently revealed that US exports to Botswana for 2004 had more than trebled (comparing Jan-March 2003 to Jan-March 2004). US imports from Botswana also almost trebled. In the southern African region only Mauritius and Mozambique show declines in exports to the US while overall exports from the region to the United States have increased. Imports from South Africa increased by 30%, with continued strength in imports of platinum, diamonds and motor vehicles. Total US trade with sub-Saharan Africa (exports and imports) increased 27% in the first quarter of 2004 from the same period in 2003, as both exports and imports continued their upward climb. Nigeria, Gabon and South Africa remained among the top four Agoa beneficiary countries.