21st September, 2012
The United States of America’s Department of Commerce International Trade Administration has listed Nigeria, South Africa, Angola, Ghana, and Benin Republic as the top five African destinations for its products.
A report by the department’s office for Africa signed by S. J. Loucif, also put the total bilateral trade volume between the US and countries in the sub- Saharan Africa in the first half of 2012 at $48 billion.
The report stated that the trade volume represented a decrease of 24 per cent compared to what it was in the same period in 2011.
It noted that in accordance with the seven per cent growth of US exports to the world, US exports to sub-Saharan Africa, which are mostly composed of machinery, increased by 4.5 per cent.
The report put the figure at about $11 billion, representing only 1.4 per cent of total US exports to the world.
It explained: “While exports to South Africa decreased by four per cent and exports to Nigeria remained constant, exports to Angola increased by 14 percent, to Ghana by 10 percent and to Benin by seven per cent.
The report disclosed that US imports from sub-Saharan African decreased by 29 per cent in the same period, falling to $27 billion and representing only 2.4 per cent of total US imports from the world.
“This decrease was mostly due to a 32 per cent decrease in US mineral fuel and oil imports. There was about 19 per cent decrease in precious stones and metals imports from sub-Saharan Africa.
“US imports from sub-Saharan Africa originated, for the most part, in Nigeria, Angola, South Africa, Chad, and Congo. US imports, mostly oil from Nigeria dropped by 44 per cent, from Gabon by 76 per cent, and from Ghana by 57 per cent. The only major increases of US imports from sub-Saharan Africa originated in Tanzania and in Senegal”.
—Henry Ojelu