The bulk of West African foreign trade is directed away from Africa to Europe and America. What are the reasons for this?
Explanation
(i) Industries that make use of the raw materials which are the main products of West African countries are found in Europe and America.
(ii) The world economic order tends to be in favour of the developed countries.
(iii) Absence of developed markets in Africa where our system of exchange is still underdeveloped and there is low demand as a result of low per Capital Income.
(iv) Over reliance on foreign products has made West Africans to have the notion that foreign products are superior.
(v) Ineffective transport and communication systems in Africa.
(vi) African countries produce mainly agricultural products and that makes exchange of goods between them very difficult.
(vii) Low level of technological development makes it difficult for African countries to produce goods needed in the continent, hence, our going to Europe and America.
(viii) Also, capital goods which West Africans depend heavenly upon are mainly produced in Europe and America.