Africa-Caribbean Trade Could Reach $1.65bn by 2030, but 80% of Export Potential Remains Untapped

November 4, 2026 | By Semahegn Nigatu

Annual trade in goods and services between Africa and the Caribbean could reach 1.65 billion US dollars by 2030, but about 80 percent of Africa's potential goods exports to the Caribbean remains untapped, highlighting the commercial gap between two regions seeking to deepen economic ties.

The findings are contained in a report jointly produced by the International Trade Centre (ITC) and African Export-Import Bank (Afreximbank), titled Reshaping Africa-Caribbean Trade: Opportunities for Economic Transformation, launched on November 3 on the sidelines of the Commonwealth Heads of Government Meeting in Antigua and Barbuda.

The report identifies opportunities across processed food, animal feed, chemicals, minerals and metals, textiles, leather products, tourism, transport services and creative industries. It estimates that the Caribbean has 481 million US dollars in export potential in services, pointing to opportunities that extend beyond conventional merchandise trade.

The analysis draws on trade and export potential assessments, sector studies and a survey of 1,175 businesses and business support organisations across Africa and the Caribbean.

Despite historical and cultural connections, commercial exchange between the two regions remains limited relative to their respective global trade. The report identifies high transportation costs, limited direct shipping connections, regulatory barriers, restricted access to finance and difficulties finding reliable business partners as major obstacles.

The findings suggest that expanding trade will require more than identifying potential markets. Businesses need improved logistics, accessible trade finance, reliable payment systems and stronger commercial networks to turn projected demand into actual transactions.

Pamela Coke-Hamilton, ITC executive director, said changing global trade conditions made stronger regional partnerships and investment in value addition increasingly important. She called for improved market intelligence, logistics and access to finance to help businesses exploit the opportunities identified.

Denys Denya, Afreximbank's senior executive vice-president, said the bank had approved about one billion US dollars in transactions in the Caribbean and committed five billion US dollars in regional financing.

Afreximbank is seeking to support the trade relationship through its CARICOM office in Barbados, local-currency payment arrangements under the Caribbean Payment and Settlement System (CAPSS), the Afri-Caribbean Trade and Investment Forum and initiatives targeting creative industries.

The report also calls for greater cooperation in joint investment ventures, digital services, tourism and creative industries, alongside traditional goods trade. It recommends stronger business matchmaking, expanded trade finance and payment solutions, improved transport connections and sector-specific value chain development.

The projected trade potential comes as African institutions seek to diversify the continent's commercial partnerships and strengthen its position in global trade. For exporters, the Caribbean represents a potential destination for manufactured products and processed agricultural goods, while African markets offer opportunities for Caribbean service providers and businesses.

Source: FSX Business News