Nazwa
product diversification

Development of the Product Structure of ECOWAS Merchandise Exports to the European Union for the Period 1995–2016

Development of the Product Structure of ECOWAS Merchandise Exports to the European Union for the Period 1995–2016

Authors

Pages

75-87

Abstract

The Economic Community of West African States is a progressive integration organization, as well as an important trading partner for the EU. Their trade relations are traditionally very close. The product structure of their mutual trade flows is affected by existing economic differences. The EU exports to ECOWAS countries, especially manufactured goods, while ECOWAS countries export primary commodities to the EU market. The EU tries to promote transformation of productive capacities of less developed ECOWAS countries. This should boost the product diversification of their merchandise exports, and thus improve the stability of their export revenues, which is necessary for their inclusive and sustainable growth and development. The EU intends to base their trade relations on the Economic Partnership Agreement establishing a free trade area. However, it has not come in force yet. The aim of this paper is to analyse the product structure of ECOWAS exports to the European Union and to identify basic shifts in this structure for the 1995–2016 period. Conclusions of the paper are based on a review of relevant official documents, scientific sources, as well as on own analysis of statistical data concerning ECOWAS-EU trade flows.