Kenya and Cote d’Ivoire have emerged top globally on the Trade20 index having most rapidly improved their trade growth potential over the past decade.
According to a new report by Standard Chartered, Cote d’Ivoire takes the lead trailed by Kenya at number two but at the third position globally below India.
“The Trade20 index, which identifies the 20 rising stars of trade, places African markets Côte d’Ivoire in the top spot, and Kenya at number three.” says the report.
Among the East African Communities, Kenya is placed as its trading hub, whilst Ghana also performed well which was trailed by Côte d’Ivoire as West Africa trading hub.
The index is weighed in variables with three key pillars grouped into three; economic dynamism, trade readiness and export diversity.
“Kenya is consolidating its position as the trading hub of East Africa, while Côte d’Ivoire is cementing its position as a West African trading hub. Ghana also performs well in the index, placing just outside the top 10.”
The key findings of the Trade20 index for African markets are: Côte d’Ivoire and Kenya have significantly improved their trade readiness, demonstrating that investments in infrastructure and business environment improvements are paying off.
Côte d’Ivoire and Ghana also fare well for economic dynamism, with Côte d’Ivoire enjoying robust GDP and export growth, and Ghana seeing an influx of FD
African economies are making particularly strong progress from a relatively low starting point.
while existing trade powers like China and India continue to rapidly improve their trade potential.
The study examines 66 markets around the world.