Data from the European Union’s statistical body indicates that the 27 countries of the bloc exported goods valued at 166 billion euros last year, a decrease from 170 billion euros the previous year, leading to an improvement in the trade balance as imports fell more significantly—from 196 billion euros in 2023 to 189.5 billion euros last year.
Assessing the past five years of goods trade relations between the two regional blocs, 2022 marked the peak year for European exports, which exceeded 180 billion euros in goods.
However, 2022 was also the most profitable year for African countries, with sales surpassing 228 billion euros, resulting in a trade deficit of 48 billion euros for Europe.
Since 2020, European exports have fluctuated between 125 billion and 166.1 billion euros in 2024, while imports rose from 100 billion euros in 2020 to 228 billion euros in 2022, later declining to 196 billion and 189 billion euros over the following two years.
A key European initiative is the Global Gateway Africa-Europe investment package, amounting to at least 150 billion euros, with two billion euros already allocated to the Lobito Corridor involving Angola, Zambia, and the Democratic Republic of the Congo.
Over half of the 264 flagship projects under the Global Gateway focus on Africa, with new projects launched at the October Global Gateway Forum in areas such as renewable energy generation, vaccine production, agricultural value chains, and corridor development.
The EU also backs regional integration and the implementation of the African Continental Free Trade Area through a 1.2 billion euro initiative.
The European bloc is a strong supporter of Africa’s peace efforts. Since 2021, it has supplied military equipment and other resources valued at over one billion euros to African partners through the European Peace Facility.
At least 18 European heads of state and government are confirmed for the summit, which will be co-presided by European Council President António Costa of Portugal and Angolan President João Lourenço. Angola currently holds the presidency of the African Union.
Portuguese Prime Minister Luís Montenegro, Mozambique President Daniel Chapo, and Prime Minister Ulisses Correia e Silva are the other confirmed Lusophone representatives.
The African Union will be represented by 29 heads of state and government or their representatives.
The European Union consists of 27 countries, including Portugal, while the African Union comprises 55 nations, including Angola, Cape Verde, Guinea-Bissau, São Tomé and Príncipe, and Mozambique.
