Malawi Exports $90 Million to US Under AGOA
Malawi's export to the United States, under the African Growth and Opportunity Act (AGOA) has totalled close to $90mn, said Malawi's Ministry of Trade and Private Sector Development.
Harrison Mandindi said that Malawi had managed to increase exports to the US under AGOA, but that many viable export opportunities still need to be tapped into.
Mandindi said that Malawi had registered an increase in volumes of exported dried fruits, macadamia nuts and textile products.
"We are the largest exporter of dried fruits like mango and nuts to the United States under the Agoa initiative, and we need to increase output to consolidate our position," he said.
Secretary for trade and private sector development, Newby Kumwembe, said other commodities that have enjoyed good trade with the United States include tobacco and tea.
However, Malawi needs to look at increasing exports to deal with trade imbalances. The county had a negative trade balance of 87.8 kwacha million (about $630 000) at the end of 2005
Trade and private sector development minister, Martin Kansichi, said: "We need to wake up and start thinking of ways and means of getting hold of these (Agoa) opportunities."
Most of Malawi's exports of agriculture, textiles and clothing qualify for duty-free benefits under Agoa.
The land-locked country receives 40 percent of GDP and 88 percent of export revenue from agriculture. It is one of the world's least developed countries.
Latest AGOA Trade Data currently available on AGOA.info
Click here to view a sector profile of Malawi’s bilateral trade with the United States, disaggregated by total exports and imports, AGOA exports and GSP exports.
Other regularly updated trade statistics on AGOA.info include: (click each link to view)