Africa us trade statistics by country
Generalized System of Preferences GSP , designated developing countries may receive duty-free treatment for eligible products that enter the United States. Almost one-fourth of all U.
Almost all of that oil comes from Angola. Its programs include 1 guarantees of commercial loans to U. Bureau of Economic Analysis. Web site at [http: Trade and Investment with Sub-Saharan Africa. Web Site at [http: Site includes quarterly updated tables.
Generalized System of Preferences. CRS-3 commercial loans to foreign buyers for purchase of U. It also has an Africa Pilot Program, which offers short-term export credit in 12 countries of sub-Saharan Africa. Its main activities are 1 loans and loan guarantees; 2 support for equity funds for U. Trade and Development Agency TDA provides planning assistance for foreign development projects that might offer sales opportunities for U.
Background and Legislative Issues. The Overseas Private Investment Corporation: Overseas Private Investment Corporation. Several other federal programs are important to U. Trade Representative for African Affairs has been active in promoting U. In addition to domestic programs, the government participates in multilateral programs through the World Bank, the International Monetary Fund, and the World Trade Organization.
Policy Direction Important measures to improve U. In Congress, there was strong bipartisan interest in legislation to enhance African economic growth and to improve U. In , President Clinton announced the Partnership for Economic Growth and Opportunity in Africa Partnership Initiative , which included some proposals Congress was already considering.
The Partnership Initiative supported economic reforms in Africa and encouraged closer economic ties between the United States and Africa. In December , the Administration submitted the last of its five annual reports on Africa trade policy that were required under the Uruguay Round Agreements Act.
Together, these TIFAs have helped create settings for representatives of the United States to meet with those of other nations to find areas of mutual interest with the ultimate goal of finding more opportunities in which to trade and invest on both sides.
In a surprising turn of events considering historical precedent, the U. This development follows significant trade deficits every year going back to , the earliest year of available U. Census data on trade with Africa . Top export categories include machinery, vehicles, mineral fuel, agricultural products, and aircraft .
Perhaps the largest obstacle to increased U. Many military dictatorships in the region have maintained rule for years, yet does it make sense to consider these countries politically stable? The Arab Spring showed the world just how quickly tyrannical order, or at least what appears to be so from the outside, can break down.
Even democratic nations with multi-party systems have been highly susceptible to violence and corruption come election and presidential transition time. Furthermore, corruption even within legitimate governments usually runs unchecked in the region. The Economist Newspaper Limited.
Accessed August 6, Office of the United States Trade Representative. African Growth and Opportunity Act. United States Census Bureau. The State of U. The greater region—often broken down into West Africa, Central Africa, East Africa, and Southern Africa—is making noticeable strides to become a viable player in the global economic arena.
Just seventy years after the beginning of widespread decolonization, Africa is entering a new era. Balance of Trade In a surprising turn of events considering historical precedent, the U. Bridging the Digital Divide. Compromise in the Gig Economy. Last modified on Jun.