Trade in intermediate goods (IGs) is playing an increasing role in Africa's economic development. In recent years, IG exports have risen much faster than imports, leading to a significant reduction in the continent's IG trade deficit. Africa’s IG exports (excluding fuels) in 2022 were estimated at US$ 312 billion compared with US$ 196 billion in 2019.
Africa's IG exports are mostly composed of raw or semi-processed materials and primary products supplied at earlier production stages in global value chains (GVCs). They cover a wide range of products, from ores, minerals and precious stones (e.g., iron, rhodium, non-monetary gold and diamonds) and agricultural inputs (e.g., cocoa, coffee and cotton), to manufactured parts, components and accessories (e.g., car wiring kits) used by industries to produce final products.
Africa's IG exports (excluding fuels) in 2022 represented around 77 per cent of total non-fuel merchandise exports from the continent, the highest share in the world.