In 2013, total two-way trade between the United States and sub-Saharan Africa totalled $63 billion. With exports of $24 billion and imports totalling $39 billion the African market holds significant potential for the United States. According to the International Trade Administration (ITA), an organisation aimed at strengthening the competitiveness of US industry, promoting trade and investment and trade laws and agreements, exports to sub Saharan Africa were up by 6.9% from 2012 to $24 billion and up 250% from 2003, indicating the significant rise in trade between the US and the continent. “African countries are importing more goods and a larger variety of goods. This is mostly due to the growth of Africa’s middle class, eager and able to increase and diversify its consumption,” said an ITA spokesman. “At the same time the continent is gaining a broader spectrum of trading partners with Europe not the main trading partner any longer. India, Brazil, China, and South Africa have emerged as principal partners in the African context.” At the same time manufacturing has also been growing in Africa. Companies are discussing moving their facilities from China, Mexico, or Brazil to Africa – boding well for the long-term future of the continent.
