Africa Posts 14% Export Growth In Q1 As Imports Rise 15% – WTO

The World Trade Organization (WTO) said Africa’s merchandise exports rose by 14 per cent year‑on‑year in the first quarter of 2026, making the region the world’s second‑fastest grower after Asia.

In its latest trade outlook, titled “Global goods trade resilient in the first quarter of 2026 despite war in Middle East,” the WTO said the increase was driven by higher shipments of precious metals and gold, copper, fertilizers and ores. The organisation added that exports of cocoa and fuels fell during the period.

“Africa saw the second‑highest increase, with 14 per cent growth, supported by exports of precious metals and gold, copper, fertilizers and ores, among others, though cocoa and fuels exports declined,” the WTO said.

The report also said Africa’s merchandise imports rose by 15 per cent year‑on‑year. It said the rise was led by vehicles, machinery and ships and boats, while imports of aircraft and organic chemicals declined.

The WTO noted that Africa’s cumulative rise in merchandise imports since the start of 2023 reached 25 per cent, the largest increase among regions over that period.

On regional performance, the WTO said Asia recorded the strongest export growth, with a 20 per cent increase supported by precious metals and gold, copper, machinery, electrical equipment and ores. It added that Asia saw declines in exports of iron and steel, pharmaceuticals and clothing.

The organisation reported that South and Central America also recorded 14 per cent export growth, helped by higher shipments of oil seeds, precious metals and gold, meat, fuels, ores, coffee and tea. By contrast, the Middle East and the Commonwealth of Independent States (CIS) each saw a 1 per cent fall in exports.

The WTO said quarter‑on‑quarter exports fell in several regions: South America by 0.3 per cent, Africa by 2.5 per cent and the CIS by 7.4 per cent. The body expected exports from South America, Africa and the CIS to rebound in the second quarter as petroleum producers sought to replace reduced output from the Middle East.

Globally, the WTO said the strongest product‑level export growth was in office and telecommunications equipment, up 44 per cent, followed by ores and other minerals at 27 per cent and other machinery at 9 per cent. It also reported that fuel prices rose 3 per cent year‑on‑year and 16 per cent quarter‑on‑quarter, and that prices for metals and minerals (excluding gold and silver) were 32 per cent higher.

The WTO said the first‑quarter results showed that global merchandise trade remained resilient despite the conflict in the Middle East and ongoing commodity market disruptions.

On country performance, the WTO said South Korea led nominal year‑on‑year export growth at 38.4 per cent, followed by Hong Kong (38.3 per cent), the United States (15.2 per cent), China (14.7 per cent) and the European Union (9.2 per cent). It added that major import increases were recorded in Hong Kong (44.8 per cent), the United Kingdom (28 per cent), China (23 per cent) and the EU (11.4 per cent), while US merchandise imports fell by 13.6 per cent.

Separately, the story said the National Bureau of Statistics (NBS) reported Nigeria’s merchandise trade surplus jumped to N7.55 trillion in the first quarter of 2026, a 340.88 per cent increase from the N1.71 trillion recorded in the previous quarter.

The NBS was quoted as saying that Nigeria’s non‑oil exports rose to N3.19 trillion in the quarter, accounting for roughly 15.05 per cent of the country’s total exports. The bureau said the figures showed a gradual shift towards a more diversified export base, even though crude oil remained the dominant source of export earnings.

The Network of Practicing Non‑Oil Exporters of Nigeria (NPNEN) was reported to have told reporters in March that usage of the African Continental Free Trade Area (AfCFTA) by Nigerian exporters remained low, despite a N12.36 trillion non‑oil export performance in 2025.

The WTO was also cited referring to past statements: in January 2025 it had said global trade reached $30.4 trillion, surpassing its pre‑pandemic peak. In a 2024 outlook, the organisation had projected Africa’s exports would grow by 5.3 per cent in 2024, the fastest pace among regions at that time. The WTO added that, in September, it had warned that artificial intelligence could raise cross‑border trade by nearly 40 per cent by 2040 if policymakers closed the digital divide.