Africa-Caribbean Trade Could Reach $1.65 Billion
A joint ITC and Afreximbank report projects annual goods and services trade between the two regions could hit that level by 2030.
Updated on Nov. 3, 2026 in International Trade
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The International Trade Centre and Afreximbank released a report estimating annual Africa-Caribbean trade could reach $1.65 billion by 2030. The report was launched on the sidelines of the Commonwealth Heads of Government Meeting in Antigua and Barbuda.
Why it matters
Trade between the two regions currently represents only a small share of each region's overall trade, and the report identifies high transport costs, limited shipping links, and limited finance as key obstacles. Closing these gaps could expand export opportunities across both regions.
The analysis draws on a survey of 1,175 businesses and business support organizations, finding that around 80% of Africa's goods export potential to the Caribbean remains untapped and Caribbean services export potential reaches $481 million. The report does not detail how the projected $1.65 billion ceiling would be financed or over what timeline it would be reached.
The players
International Trade Centre (ITC)
The ITC is a joint agency of the World Trade Organization and the United Nations that helps developing countries build export capacity and trade competitiveness.
Afreximbank
The African Export-Import Bank is a multilateral financial institution headquartered in Cairo, Egypt, that finances trade across Africa and the Caribbean.
The details
The report combines trade and export potential analysis, detailed sector assessments, and a business survey. It identifies priority sectors including processed food, chemicals, apparel and textiles, tourism, transport services, and creative industries, and recommends improving market intelligence, expanding trade finance, and strengthening transport and logistics connectivity.
Timeline
- 2026-11-03
Report launched at the Commonwealth Heads of Government Meeting in Antigua and Barbuda.
2030: Projected year in which annual Africa-Caribbean trade could reach up to $1.65 billion.
Market Dynamics
The report builds on Afreximbank's $5 billion regional financing commitment and its CARICOM office in Barbados, which has already approved about $1 billion in transactions in the region. It positions South-South trade between Africa and the Caribbean as a growing counterweight to traditional North-South trade patterns.
For exporters and importers in Africa and the Caribbean, the report signals where untapped demand exists in processed food, apparel, and services. Businesses weighing new routes may find that transport costs and trade finance remain the practical hurdles to address first.
The takeaway
Exporters on both continents can look to services and processed goods as near-term opportunities. Improving shipping links and access to trade finance are the report's clearest prerequisites for capturing that potential.
Further reading
Explore more on International Trade developments shaping cross-regional commerce.
More information
Read the complete Reshaping Africa-Caribbean Trade report from the International Trade Centre and Afreximbank.
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