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Every country participates in global trade. That’s because not even the most advanced economies in the world are self-sufficient enough to do without international trade.
Instead, they all participate because every country needs one another for trades, either buying what they don’t have or selling things they have in excess.
Investopedia defines international trade as “the exchange of goods and services between countries” that allows countries to expand their markets.
For most developing countries in Africa, foreign trade is imperative. For one, these countries need to import the many products and services they can’t produce. Also, exporting their products (mostly raw materials) gives them the opportunity to earn much-needed hard currency and bolster their foreign reserves.
For the rest of this article, we shall focus on fifteen African countries that earn the highest foreign exchange through exports of products and services. This is particularly important now that many African countries, from Nigeria to Kenya, are grappling with chronic dollar shortages. Perhaps the answer to the problem is for these countries to find ways to export more products and services so they can earn more forex.
Below are the fifteen African countries that earn the highest forex through exports. The list is courtesy of available data obtained from The World.
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