Economic Development In Africa: Trade Performance And Commodity Dependence

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ISBN:9789211126051
Editorial: ONU
Fecha de la edición:2004
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Nº Pág.:84
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/ Estructura Económica

The past decade´s emphasis on trade liberalization and export orientation has led to phenomenal growth in world merchandise trade, which has consistently grown faster than output. Africa has also seen an increase in its trade relative to gross domestic product (GDP). However, on the whole, Africa´s share of world trade has declined. This phenomenon has as much to do with the structure of international trade as with the composition of Africa´s merchandise trade, the trade policies applied on the continent in the past 20 years, market access, and agricultural policies in industrial countries.