Africa and Asia Trade: Key Insights of the Import and Export



The trade relationship between Asia and Africa has a quite long history dating back thousands of years ago. With the growing Industrial engagement and the pivotal growth of the attributing factors, both countries have recorded significant growth in their overall exports recording themselves as one of the fastest-growing global economies. The preceding GDP value of Asia is right now standing at a staggering rate of 32 trillion US dollars in 2023 along with an export and import trade value of 2.93 trillion US dollars and 1.8 trillion US dollars.

Accompanying the growing trade rate of Asia, the GDP of Africa is also progressing at a responsive rate worth an import and export trade value of 900 billion US dollars and 1.4 trillion US dollars in 2023. Import Globals with its in-depth insights of the global trade helps the business holders expand their business worldwide through the visual insights of the latest trade trends.

TOP 10 EXPORTED PRODUCT OF THE ASIA IN 2023

As per the Asia Import Export Trade Data, the top 10 exported goods of the Asian region in 2023 that facilitate the globally emerging trade in 2023 are,

  1. Electronic equipment — Export Trade value of Electronic equipment from Asia in 2023–1.8 trillion US dollars
  2. Automobiles — Export Trade value of Automobiles from Asia in 2023–650 billion US dollars
  3. Machinery — Export Trade value of Machinery from Asia in 2023–580 billion US dollars
  4. Textiles — Export Trade value of Textiles from Asia in 2023–500 billion US dollars
  5. Chemicals — Export Trade value of Chemicals from Asia in 2023–400 billion US dollars
  6. Ships & Boats — Export Trade value of Ships & Boats from Asia in 2023–350 billion US dollars
  7. Precious Metals — Export Trade value of Precious Metals from Asia in 2023–300 billion US dollars
  8. Furniture — Export Trade value of Furniture from Asia in 2023–200 billion US dollars
  9. Agricultural Products — Export Trade value of Agricultural Products from Asia in 2023–150 billion US dollars
  10. Plastics & Rubber — Export Trade value of Plastics & Rubber from Asia in 2023–100 billion US dollars

TOP 10 IMPORTED GOODS OF ASIA IN 2023

The resilient impact of the countries within the continent’s dependency on foreign imported goods is driving the relentless trade rates of the region. As per the Asia Import Data, the top 10 imported goods of Asia in 2023 are,

  1. Machinery and Mechanical Appliances — Valuation of imports in Asia 2023–900 billion US dollars
  2. Electrical equipment — Valuation of imports in Asia 2023–800 billion US dollars
  3. Mineral fuels — Valuation of imports in Asia 2023–700 billion US dollars
  4. Vehicles — Valuation of imports in Asia 2023–600 billion US dollars
  5. Plastics — Valuation of imports in Asia 2023–500 billion US dollars
  6. Pharmaceuticals — Valuation of imports in Asia 2023–400 billion US dollars
  7. Iron and steel — Valuation of imports in Asia 2023–300 billion US dollars
  8. Organic chemicals — Valuation of imports in Asia 2023–200 billion US dollars
  9. Optical, photographic, medical equipment — Valuation of imports in Asia 2023–150 billion US dollars
  10. Meat — Valuation of imports in Asia 2023–100 billion US dollars

TOP 10 EXPORTED GOODS OF AFRICA IN 2023

The abundance of production capability of the industrial sectors and the responsive outgrowth towards the upward trajectory are recording an increasing trade rank. As per the Africa Import Export Trade Data, the top 10 exported goods of Africa in 2023 are,

  1. Crude Petroleum — Total export trade value of Crude Petroleum from Africa in 2023–980 billion US dollars
  2. Refined Petroleum- Total export trade value of Refined Petroleum from Africa in 2023–870 billion US dollars
  3. Gold- Total export trade value of Gold from Africa in 2023–760 billion US dollars
  4. Diamonds- Total export trade value of Diamonds from Africa in 2023–650 billion US dollars
  5. Cocoa Beans- Total export trade value of Cocoa Beans from Africa in 2023–600 billion US dollars
  6. Coffee- Total export trade value of Coffee from Africa in 2023–500 billion US dollars
  7. Cotton- Total export trade value of Cotton from Africa in 2023–400 billion US dollars
  8. Copper- Total export trade value of Copper from Africa in 2023–300 billion US dollars
  9. Tobacco- Total export trade value of Tobacco from Africa in 2023–200 billion US dollars
  10. Fruit and Nuts- Total export trade value of Fruit and Nuts from Africa in 2023–150 billion US dollars

TOP 10 LEADING IMPORTS OF AFRICA IN 2023

The resilient impact of the foreign exporters over the African region and the lack of production capability have introduced a wide variant in its domestic acquirements. As per the Africa Import Data, the top 10 leading imports of Africa in 2023 are,

  1. Machinery and mechanical appliances — Valuation of Machinery and mechanical appliances imports in 2023–700 billion US dollars
  2. Mineral fuels — Valuation of Mineral fuels imports in 2023–600 billion US dollars
  3. Vehicles — Valuation of Vehicles imports in 2023–500 billion US dollars
  4. Electrical machinery — Valuation of Electrical machinery imports in 2023–400 billion US dollars
  5. Pharmaceuticals — Valuation of Pharmaceuticals imports in 2023–357 billion US dollars
  6. Plastics — Valuation of Plastics imports in 2023–267 billion US dollars
  7. Iron and steel — Valuation of Iron and steel imports in 2023–187 billion US dollars
  8. Clothing and accessories — Valuation of Clothing and accessories imports in 2023–140 billion US dollars
  9. Organic chemicals — Valuation of Organic chemicals imports in 2023–120 billion US dollars
  10. Cereals — Valuation of Cereals imports in 2023–100 billion US dollars

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