Food exports to neighbors and mineral exports to global markets drive Niger’s economy.
Only uranium and cattle exports generate more foreign cash in Niger. This article looks into some of Niger’s trade agreements and the contents of those agreements
WAEMU
The West African Economic and Monetary Union (UEMOA), founded on January 10, 1994, in Dakar, has as its primary goal the creation of a harmonized and integrated economic space in West Africa, within which total freedom of movement of people, capital, goods, services, and factors of production is guaranteed, as well as the effective enjoyment of the right of exercise and establishment for liberal professions, and residence for citizens throughout the community.
The WAEMU is made up of eight coastal and Sahelian republics that are linked by a shared currency, the FCFA, and share cultural traditions: Benin, Burkina Faso, Côte d’Ivoire, Guinea-Bissau, Mali, Niger, Senegal, and Togo. UEMOA has a population of 120.2 million people and covers 3,506,126 km2.
ECOWAS
The Economic Community of West African States (ECOWAS; CEDEAO in French) is a regional political and economic union made up of fifteen West African countries.
The declared purpose of ECOWAS, which is considered one of the pillar regional blocs of the continent-wide African Economic Community (AEC), is to attain “collective self-sufficiency” for its member states by forming a single big trade bloc and establishing a full economic and trading union. The union was founded on May 28, 1975, when the Treaty of Lagos was signed, with the stated purpose of promoting regional economic unity. On July 24, 1993, in Cotonou, a revised version of the treaty was agreed upon and signed.
In times of political instability and unrest, the ECOWAS acts as a peacekeeping force in the area, with member states sending joint military forces to intervene in the bloc’s member countries.
US – Niger
Niger’s GDP was expected to be $9.4 billion in 2019 (current market exchange rates); real GDP was up 5.8%, and the population was 23 million.
With $139 million in total (two-way) goods commerce in 2019, Niger is their 160th largest goods trading partner. Exports of products reached $93 million, while imports of goods totaled $47 million. In 2019, the United States goods trade surplus with Niger was $46 million.
In 2019, Niger was the 156th largest products export market for the United States.
In 2019, US goods exports to Niger totaled $93 million, up 50.1 percent ($31 million) from the previous year and 59.0 percent from 2009.
Vehicles ($30 million), electrical machinery ($11 million), machinery ($11 million), airplanes ($10 million), and optical and medical instruments ($9 million) were the top two-digit HS export categories in 2019.
