Economic Report on Africa 2004: Unlocking Africas Trade Potential

By United Nations

The Economic Report on Africa 2004 is the fifth in an annual series that reviews the continent's economic performance and near-term prospects. In 2003, Africa was the second fastest-growing developing region with real GDP growth of 3.8 per cent, driven by higher oil prices and production, rising commodity prices, increased foreign direct investment (FDI), better macroeconomic management, and good weather conditions. But the report takes the view that OECD trade policies are a serious constraint to Africa's integration into the global economy. African exports have been handicapped by industrial country policies such as tari. escalation, tari. peaks and agricultural protectionism. Africa's share in world merchandise exports fell from 6.3 per cent in 1980 to 2.5 per cent in 2000 in value terms. But the report also argues that strengthening Africa's supply side capacity is essential to more successful integration into the global economy. Weak infrastructure, poor trade facilitation services, and inadequate physical and human capital are impediments to the development of Africa's export sectors. Faster overall growth is needed if Africa is to make progress toward achieving the Millennium Development Goal of halving poverty by 2015.

• Format: Paperback
• Language: English
• ISBN: 9211250943
• ISBN13: 9789211250947
• Release Date: January 2005
• Publisher: United Nations
• Length: 264 Pages
• Weight: 1.40 lbs.
• Dimensions: 9.0" x 0.5" x 7.3"