Sunday, May 11, 2025
LBNN
  • Business
  • Markets
  • Politics
  • Crypto
  • Finance
  • Energy
  • Technology
  • Taxes
  • Creator Economy
  • Wealth Management
  • Documentaries
No Result
View All Result
LBNN

African countries ineligible for U.S. AGOA trade

Simon Osuji by Simon Osuji
April 4, 2025
in Business
0
African countries ineligible for U.S. AGOA trade
0
SHARES
1
VIEWS
Share on FacebookShare on Twitter

AGOA (the African Growth and Opportunity Act) has been a key element of U.S. economic policy and engagement with Africa since its creation in 2000.

It offers eligible sub-Saharan African countries duty-free access to the U.S. market for over 1,800 products, in addition to more than 5,000 products that qualify for duty-free access under the Generalized System of Preferences (GSP) program.

To qualify for AGOA, countries must meet rigorous eligibility requirements, including progress toward a market-based economy, the rule of law, political pluralism, and ensuring due process. They also need to remove barriers to U.S. trade, implement policies to reduce poverty, combat corruption, and protect human rights.

AGOA has helped open new market opportunities, boosting economic growth, encouraging reform, and strengthening U.S. economic ties with Africa. In 2024, 32 countries are eligible for AGOA benefits, and the program was extended through 2025 by legislation passed in 2015.

For example, in 2024, U.S. goods trade with Nigeria reached $9.9 billion, with U.S. exports to Nigeria rising by 61.4% ($1.6 billion) to $4.2 billion. However, not all African countries are eligible for AGOA benefits.

17 African nations, including Sudan, Zimbabwe, and Cameroon, are currently ineligible. Some, like Uganda and the Central African Republic, faced expulsion from the program due to serious human rights violations. Additionally, Equatorial Guinea and Seychelles graduated from GSP, making them ineligible for AGOA benefits.

Below is a list of the 17 African countries that do not qualify for AGOA benefits:

Related posts

Top 10 African cities with the fastest-growing coworking space density

Top 10 African cities with the fastest-growing coworking space density

May 11, 2025
Experts Call for Urgent Reforms to Protect Children with Disabilities from Online Abuse

Experts Call for Urgent Reforms to Protect Children with Disabilities from Online Abuse

May 11, 2025

1)Burundi

Burundi

In 2024, total trade in goods between the U.S. and Burundi reached $10.4 million in 2024. U.S. exports to Burundi rose to $6.6 million, marking a 63.3% increase ($2.6 million) from 2023. Meanwhile, imports from Burundi fell to $3.7 million, a 41.3% drop ($2.6 million) from the previous year. The U.S. recorded a $2.9 million trade surplus with Burundi in 2024, reflecting a 224.3% rise ($5.2 million) compared to 2023.

2)Burkina Faso

Burkina Faso

Total goods trade between the U.S. and Burkina Faso reached $58.9 million in 2024. U.S. exports to Burkina Faso climbed to $54.4 million, a 17.7% increase ($8.2 million) from 2023. Imports from Burkina Faso also grew to $4.5 million, up 11.4% ($0.5 million) from the previous year. The U.S. trade surplus with Burkina Faso stood at $49.8 million, marking an 18.3% rise ($7.7 million) compared to 2023.

3)Cameroon

In 2024, trade between the U.S. and Cameroon totaled $441.9 million. U.S. exports to Cameroon fell to $193.1 million, down by 11.8% ($25.9 million) from the previous year. On the other hand, U.S. imports from Cameroon skyrocketed to $248.8 million, a remarkable 94.6% increase ($120.9 million). As a result, the U.S. moved from a trade surplus of $91.1 million in 2023 to a trade deficit of $55.7 million in 2024.

4) Zimbabwe

In 2024, total goods trade between the U.S. and Zimbabwe reached $111.6 million. U.S. exports to Zimbabwe grew by 10.6%, totaling $43.8 million, an increase of $4.2 million from 2023. However, U.S. imports from Zimbabwe dropped by 41.0%, falling to $67.8 million, a decrease of $47.1 million. As a result, the U.S. trade deficit with Zimbabwe narrowed significantly to $24.1 million, a 68.1% reduction of $51.3 million compared to 2023.

5)Uganda

Uganda

In 2024, U.S. goods trade with Uganda totalled $238.9 million. Exports dropped 12.3% to $106.3 million, while imports rose 14.6% to $132.6 million. As a result, the U.S. trade deficit with Uganda decreased significantly by 574.3%, reaching $26.3 million, down $31.9 million from 2023.

6)Central African Republic

In 2024, total U.S. goods trade with the Central African Republic reached $36.5 million. U.S. exports to the country were $35.1 million, a significant increase of 107.2% ($18.1 million) from 2023. Imports from the Central African Republic totalled $1.4 million, a decrease of 31.9% ($0.7 million) from the previous year. As a result, the U.S. achieved a trade surplus of $33.6 million, up 126.8% ($18.8 million) from 2023.

7) Sudan*

In 2024, total U.S. goods trade with Sudan reached $69.7 million. U.S. exports to Sudan were $56.6 million, a 3.3% increase ($1.8 million) from 2023. U.S. imports from Sudan amounted to $13.1 million, up 9.3% ($1.1 million) from the previous year. As a result, the U.S. had a trade surplus of $43.5 million with Sudan, marking a slight 1.7% increase ($0.7 million) from 2023.

8)Gabon

Gabon

In 2024, total U.S. goods trade with Gabon reached $342.7 million. U.S. exports to Gabon were $171.1 million, down 5.0% ($8.9 million) from 2023, while imports surged to $171.7 million, a 114.5% increase ($91.6 million). This shift led to a U.S. trade deficit of $0.6 million, a sharp 100.6% increase ($100.6 million) from the previous year.

9) Equatorial Guinea**

In 2024, total U.S. goods trade with Equatorial Guinea reached $223.0 million. U.S. exports were $95.4 million, down 3.7% ($3.6 million) from 2023, while imports fell to $127.6 million, a sharp 55.2% decrease ($157.3 million). As a result, the U.S. trade deficit with Equatorial Guinea dropped to $32.3 million, an 82.6% decline ($153.7 million) from the previous year.

10) Eritrea

In 2024, total U.S. goods trade with Eritrea reached $38.3 million. U.S. exports were $37.5 million, up 13.7% ($4.5 million) from 2023, while imports rose to $0.9 million, a 104.9% increase ($0.4 million). This resulted in a U.S. trade surplus of $36.6 million, a 12.5% increase ($4.1 million) from the previous year.

11) Guinea

In 2024, total U.S. goods trade with Guinea reached $144.5 million. U.S. exports were $138.3 million, down 24.6% ($45.0 million) from 2023, while imports fell to $6.2 million, a 53.3% decrease ($7.1 million). As a result, the U.S. trade surplus with Guinea dropped to $132.2 million, a 22.3% decline ($38.0 million) from the previous year.

12) Ethiopia

Ethiopia

In 2024, total U.S. goods trade with Ethiopia reached $1.5 billion. U.S. exports were $1.0 billion, down 16.6% ($202.8 million) from 2023, while imports fell to $465.8 million, a 5.0% decrease ($24.4 million). As a result, the U.S. trade surplus with Ethiopia declined to $551.9 million, a 24.4% drop ($178.4 million) from the previous year.

13)Seychelles**

In 2024, total U.S. goods trade with Seychelles reached $23.7 million. U.S. exports were $16.5 million, down 47.3% ($14.8 million) from 2023, while imports fell to $7.2 million, a 29.9% decrease ($3.1 million). As a result, the U.S. trade surplus with Seychelles dropped to $9.4 million, a 55.7% decline ($11.8 million) from the previous year.

14) Somalia ***

In 2024, total U.S. goods trade with Somalia reached $51.6 million. U.S. exports were $49.1 million, down 1.4% ($0.7 million) from 2023, while imports fell to $2.5 million, a 21.9% decrease ($0.7 million). The U.S. trade surplus with Somalia remained steady at $46.6 million, unchanged from the previous year.

15)Niger

Niger

In 2024, total U.S. goods trade with Niger reached $51.6 million. U.S. exports were $43.3 million, down 44.8% ($35.2 million) from 2023, while imports fell to $8.3 million, an 82.3% decrease ($38.7 million). As a result, the U.S. trade surplus with Niger grew to $34.9 million, an 11.1% increase ($3.5 million) from the previous year.

16) South Sudan

In 2024, total U.S. goods trade with South Sudan reached $60.1 million. U.S. exports were $59.3 million, up 16.9% ($8.6 million) from 2023, while imports rose to $0.8 million, a 165.3% increase ($0.5 million). As a result, the U.S. trade surplus with South Sudan grew to $58.5 million, a 16.0% increase ($8.1 million) from the previous year.

17) Mali

In 2024, total U.S. goods trade with Mali reached $57.0 million. U.S. exports were $51.5 million, down 48.8% ($49.2 million) from 2023, while imports fell to $5.5 million, a 29.0% decrease ($2.2 million). As a result, the U.S. trade surplus with Mali dropped to $46.0 million, a 50.5% decline ($46.9 million) from the previous year.

Source link

Previous Post

DeepOcean scores Vattenfall offshore wind O&M contract

Next Post

Lesotho Faces Economic Blow as Trump Slaps 50% Tariff on Imports

Next Post
Lesotho Faces Economic Blow as Trump Slaps 50% Tariff on Imports

Lesotho Faces Economic Blow as Trump Slaps 50% Tariff on Imports

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RECOMMENDED NEWS

Fighting in East Syria Kills 11 Civilians: War Monitor

Fighting in East Syria Kills 11 Civilians: War Monitor

9 months ago
Gold Prices Fall Ahead of Wednesday’s FOMC Meeting

Gold Prices Fall Ahead of Wednesday’s FOMC Meeting

1 year ago

Cardi B Starts “DND” Summer With Fendi Da Rapper Feature

2 years ago
How much each dismissed Kenyan cabinet secretary will receive in gratuity

How much each dismissed Kenyan cabinet secretary will receive in gratuity

10 months ago

POPULAR NEWS

  • Ghana to build three oil refineries, five petrochemical plants in energy sector overhaul

    Ghana to build three oil refineries, five petrochemical plants in energy sector overhaul

    0 shares
    Share 0 Tweet 0
  • When Will SHIB Reach $1? Here’s What ChatGPT Says

    0 shares
    Share 0 Tweet 0
  • Matthew Slater, son of Jackson State great, happy to see HBCUs back at the forefront

    0 shares
    Share 0 Tweet 0
  • Dolly Varden Focuses on Adding Ounces the Remainder of 2023

    0 shares
    Share 0 Tweet 0
  • US Dollar Might Fall To 96-97 Range in March 2024

    0 shares
    Share 0 Tweet 0
  • Privacy Policy
  • Contact

© 2023 LBNN - All rights reserved.

No Result
View All Result
  • Home
  • Business
  • Politics
  • Markets
  • Crypto
  • Economics
    • Manufacturing
    • Real Estate
    • Infrastructure
  • Finance
  • Energy
  • Creator Economy
  • Wealth Management
  • Taxes
  • Telecoms
  • Military & Defense
  • Careers
  • Technology
  • Artificial Intelligence
  • Investigative journalism
  • Art & Culture
  • Documentaries
  • Quizzes
    • Enneagram quiz
  • Newsletters
    • LBNN Newsletter
    • Divergent Capitalist

© 2023 LBNN - All rights reserved.