Israel Africa | Business Guide | 2020

Trade between Israel and Sub- Saharan Africa Over the last decade Israeli exports of goods to Sub-Saharan countries fell steeply from USD 1.1 million to USD 0.6 million, while Israeli exports grew by 30%. This shows that Israeli exporters failed to capitalize on Africa's rapid economic growth during this period The article courtesy of the Israel Export Institute T he worst global economic recession since the end of WWII says TheWorld Bank in its last statistics released in June. Amid theCOVID- 19 pandemic the global economy is expected to shrink by 5 . 2 % in 2020 , compared to the 1 . 8 %decrease recorded following the sub-prime crisis of 2009 , this is indeed a dire economic realitywe are facing. However, not all is lost. A unique study conducted by the Israel Export Institute found that developed economies on average are more affected by the pandemic, driving global growth statistics downwards. Despite the expected negative growth figures this year, East Asia and Sub-Saharan Africa are expected to experience a better recovery, reaching higher GDPfigures in 2021 compared to 2019 . Kenya, Uganda, Ethiopia, and Ghana are expected to lead the growth in Africa in the coming years, alongside smaller economies such as Senegal, Mozambique, and Burkina Faso. On the other hand, the growth rate of South Africa and Nigeria, the largest and strongest economies of Sub-SaharanAfrica, is expected to decreasemuch like the developed economies. Israel Africa > Business Guide > 2020 12 > General Information > Trade Data