With Africa’s overall port utilisation capacity now exceeding 70%, ports authorities and terminal operators are actively calling for partners in development to equip Africa’s ports and harbours for post-neo-panamax shipping requirements. As international trade volumes increase at growth rates of 6-8% per year, expansion projects in Africa follow suit and gain momentum.
“Morocco’s current account deficit widened to 4.4% of GDP in 2016, up from 2.1% of GDP in 2015, amid rapidly rising imports and sluggish exports. We now forecast the current account deficit to shrink to 3.5% of GDP in 2017 and 3.3% in 2018, benefiting from the recovery of key exports sectors,” reads the report.
Sector-Wide Export Growth
Export growth is rising in Morocco.
Kenya on Monday launched a National Trade Policy that aims to boost the country’s foreign exchange earnings, a senior official said Monday.
The new policy adds impetus to the robust trade policy reforms that the country has pursued under regional and multilateral trade arrangements.
The 2017 First Quarter East Africa Trade Report issued by Maersk Line Eastern Africa - a member of A.P. Moller-Maersk - reveals that aggregate trade levels in the region have improved slightly since 2016, resulting in overall year-on-year growth of 1%.
According to the company's MD, Steve Felder, in line with what was reported last year, there continues to be a noticeable disparity in performance between the two core trade corridors of East Africa.