Dubai, United Arab Emirates, September 30, 2019/ — Côte d’Ivoire and Kenya beat Ghana and other developing countries to place top spots in the latest global trade index.
Côte d’Ivoire is the market that has most rapidly improved its trade growth potential over the past decade, according to the new research from Standard Chartered.
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. While Ghana also performs well in the index, placing just outside the top 10. Any stock market trading strategy much be looked at critically and objectively before it is employed in the market. A seemingly perfect trading strategy often fails because the traders does adequately understand the strategy or them self. By asking the following three questions in regards to our trading strategy we are more likely find a strategy that works for us personally, not wasting our time and money on something which stands little chance of bringing in profits. You can click here to find how to become a day trader with Axia Futures.
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.
The index determines each market’s trade growth potential by analysing changes within the last decade across a wide range of variables, grouped into three equally-weighted pillars: economic dynamism, trade readiness and export diversity.
The study examines 66 markets around the world. It finds that while existing trade powers like China and India continue to rapidly improve their trade potential, African economies are making particularly strong progress from a relatively low starting point.
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 FDI.
Saif Malik, Regional Co-Head, Global Banking, AME, Standard Chartered, said: “Home to some of the world’s fastest-growing economies, Africa has the potential to become a much bigger player on the global trade stage.
Already connected with the trading powers in Asia, particularly China, through the Belt & Road Initiative, and with the launch of the African Continental Free Trade Area, we see numerous growth opportunities for trade and investment in the years ahead.
Additionally, the growing young, digitally-savvy population and an increasing female workforce will aid in the continent’s economic transformation.”
Trade20 examines 12 metrics across 66 global markets – the major global economies plus the major economies in each region – to reveal the 20 economies that are most rapidly improving their potential for trade growth.
While most traditional trade indices are based on a market’s present performance, the Trade20 index captures changes over time to reveal the markets that have seen the most improvement within the last decade.
This enables us to identify the economies where recent positive developments may point to an acceleration in trade growth potential.
African Eye Report
