The regions 2020 economic outlook deteriorated markedly this month owing to the intensifying coronavirus fallout and slump in commodity prices, particularly of oil. As discussed in the 20 africa competitiveness report, africa s share of global trade remains very small, at around 2 percent of world trade, and exports overall remain highly focused on commodities. The african union recognises that for member states to achieve agenda 2063 and stisa 2024, science, technology and innovation must be at the centre of the developmental agenda. While the private sector pmi averaged higher than in q3, economic activity moderated and merchandise export growth eased amid slowing coffee exports. With south africa s economic growth in decline since 2010, many voters voted for change in the 2016 municipal election. Debt dynamics and development finance in africa, was prepared by a team of unctad contributors, headed by junior roy davis, and composed of the following people. For the first time in a decade, investment accounted for more than half the continents growth, with private consumption accounting for less than. This chapter analyses recent trends in external financial flows to africa and domestic revenue collection. The african economic outlook 2016 presents the continents current state of affairs and forecasts its situation for the.
How sustainable cities can contribute to africa s development. The report also highlights significant allocations from the 201617 budget to various sectors in the country. Middle east and north african economies, afghanistan, and pakistan. The african economic outlook aeo celebrates its 15th edition this year. Economic outlook 2016 3 preamble the uganda economic outlook 2016 report provides an overview of ugandas economic environment and key sectors. This annual report examines africas performance in crucial areas. Imf world economic outlook, thomson reuters datastream real gdp growth in em regions ssa real gdp growth % yoy contribution of individual economies, % yoy. The african economic outlook 2015 analyses africas growing role in the world economy and predicts the continents twoyear prospects in crucial areas. Although growth rebounded in angola, nigeria, and south africathe regions largest economiesit remained low. Selected series from the publication are available in a database format.
Risks to the outlook remain firmly on the downside, including the possibility of escalating trade tensions. This 14th edition analyses regional development and spatial inclusion challenges faced by the continent. Download the paper to see the contributing viewpoints from highlevel policymakers and other africa experts. The economy sank into a technical recession in the fourth quarter of last year as unprecedented rolling blackouts took their toll, with manufacturing, agriculture and transport the worst affected sectors. Monetary policy has become dovish and sa is likely to join this direction. The need for scale and market consolidation is particularly relevant for the 54 african countries, many of which are small, landlocked economies with small populations. The stated goals of the organization include the creation of free trade areas, customs unions, a single market, a central bank, and a common currency see african monetary union thus establishing an economic and monetary union.
Looking forward, african economic growth is projected to accelerate to 4percent in 2019. Notwithstanding frequent and strong reaffirmation of political commitment to integration by african leaders, progress on the ground has been slow and challenging. Prospects in the retail and consumer goods sector in ten sub. In 20, africa grew by about 4%, on average, compared.
The opinions expressed and arguments employed herein do not necessarily reflect the official views of the african develo. Pdf how sustainable cities can contribute to africas. Jan 11, 2018 reassessing africas global partnerships. The annual african economic outlook aeo is an essential reference for monitoring the economic, social and political developments of the continent. In gambia, tourism has become the fastest growing sector of the. Developing africa s workforce for the future africa s economic growth has been the secondfastestgrowing in the world. Ecas mandate is to promote the economic and social development of its member states, foster intraregional integration, and promote. African economic outlook 2016 sustainable cities and structural transformation. You may copy, download, or print this material for your own use, and you may include excerpts. The g20 compact with africa cwa initiative, under the g20 finance track, provides a framework for supporting private investment, including infrastructure, in africa. Number of available macroprudential measures per country, 2016.
Commodity prices are expected to stabilize but remain low through 2017 figure 2. The south african reserve banks sarb first mobile application mobile app is now available in app stores. International tourists spend 36 billion us dollars in africa every year, and 80% of them come for wildlife watching findlay, 2016. African economic outlook 2016 african development bank. Global economic prospects january 2018 economic outlook for. Statutory issues of the economic commission for africa overview of recent economic and social developments in africa i.
The ssa region is a leading market for south african exports, particularly manufactured goods, and provides. Subsaharan africa regional economic outlook international. Africa s economic growth page 1 of 27 executive summary over the past 15 years, most countries in africa experienced sustained economic growth, with growth rates often exceeding 5% per year. It is based on the premise that significant progress can be achieved when african countries, g20 members and partner countries, and international organizations ios work. This report presents the continents current state of affairs and forecasts its situation for the coming two years. Uganda economic outlook 2016 the story behind the numbers.
Global economic prospects january 2018 economic outlook. Subsaharan africa economic outlook data, statistics. An obstructive regulatory environment is burdening south africa s growth outlook by suppressing economic activity. This th edition of the african economic outlook underscores the continents resilience to regional and global headwinds. Bloomberg and national treasury calculations domestic outlook the south african economy is forecast to grow by 1.
Gross domestic product gdp of africa from 19952016. It contributes to gross domestic product, employment, trade, poverty reduction and inclusive growth. Mozambiques outlook remains positive if government negotiations with gas and coal operators make breakthroughs that allow for final investment decisions on liquefied natural gas projects during 2016, and a boost in coal exports. Africa economic outlook jeanchristophe batlle, managing director for africa. In 2016, the emerging common african position on urban development. Data and research on finance including financial markets, monetary issues, insurance, private pensions, sovereign debt, public debt management and financial education. Uganda economic outlook economic indicators, news and forecasts.
Developing africas workforce for the future growths fundamentals are also improving, with a gradual shift from private consumption toward investment and exports. In this section you can download all statistical tables of african economic outlook 2017 in excel formats. The economy recovered in 2016, after it suffered another setback when economic growth contracted in 2015 because of weak demand for diamond exports and. The economist offers authoritative insight and opinion on international news, politics, business, finance, science, technology and the connections between them. Subdued investment in emerging market and developing economies emdes is dampening potential growth prospects. Almost all african countries are expected to register higher growth in 2010 than in 2009. The african economic outlook 2015 analyses africa s growing role in the world economy and predicts the continents twoyear prospects in crucial areas. On june 9, imf african department director antoinette sayeh presented the imfs regional economic outlook for subsaharan africa, which argues that the regions mediumterm prospects remain. World economic outlook, africa economic outlook, world bank, kpmg research, african development bank geography size km 2 9 534 021 europe 10 306 659 usa 9 526 629 total 29 367 309 africa 30 221 532.
Mar 25, 2020 economic snapshot for subsaharan africa. Botswana has experienced boombust cycles, two of which have occurred since the turn of this century. This annual report examines africa s performance in crucial areas. Africa s general economic performance continues to improve, with gross domestic product growth reaching an estimated 3. In 2016, overall economic growth in africa declined drastically, dropping to 1.
Key features of the app include ability to perform advanced searches and. Human development in afri ca92african economic outlook afdb, oecd, undp 2016in briefafrican countries have made steady. The african economic outlook 2017 presents the continents current state of affairs and. The imf still forecasts that africa will be the secondfastest growing region in the world between 2016 and 2020 with annual growth of 4. Structural change and poverty reduction simulations between 2006 and 2016.
The african development bank, the oecd development centre and the united nations development programme partner to produce this annual report. What the past five years have proved, however, is that africa s economic lions need to improve their fitness in order to make the most of their potential and continue their march towards prosperity. African economic outlook is a reference website which focuses on the economics of most african countries. This growth performance was influenced greatly by outcomes. Smes outlook on the state of the economy industries in 6 months 20162018. Africa average growth used to outperform most regions other than asia over the last 15 years, but is now is only above lac real gdp growth falls to 1.
A section of country notes summarises recent economic growth, forecasts gross. You can copy, download or print this material for your own use, and you can include. Sustainable cities and structural transformation algeria angola benin botswana burkina faso burundi cabo verde cameroon central african republic chad comoros congo congo, dem. African economic outlook 2016 sustainable cities and. In this regard, the federal government has developed a framework in the nigeria economic recovery and growth plan 201720. Ibrahim index of african governance iiag data portal mo. The african union is in talks with the government of cuba to start postgraduate medical education in africa. A rise in confidence in early 2018 and the recent upward revision of national accounts for the period 2015 to 2017 suggest that the country is recovering from a difficult 2015 and 2016, which marked the end of the supercommodity cycle and severe drought. Annual economic reports south african reserve bank. Our connectivity with the market has ensured that the thought leadership that we share in this issue is topical, interesting, inspiring and most importantly, what you want to read. Available data for the fourth quarter of 2019 is mixed.
Sustainable cities and structural transformation, chapter. Gross domestic product gdp of africa from 19952016 statista. Management of the south african money and banking system. Growth in subsaharan africa is projected to remain at 3. Economies in the west african economic and monetary union waemu and in east africa expanded at a robust pace. African economic outlook 2019 ica the infrastructure. This calls for substantial financial resources at a time when the global development finance landscape is changing. The ibrahim index of african governance iiag is a tool that measures and monitors governance performance in african countries. The mo ibrahim foundation mif defines governance as. With twothirds of africans expected to live in cities by 2050, how africa urbanises will be critical to the continents future growth and development, according to the african economic outlook 2016 released today at the african development bank groups 51st annual meetings africa s economic performance held firm in 2015 amid global headwinds and regional shocks. The expected recovery, however, is at a slower pace than previously envisaged for about twothirds of the countries in the region, partly due to a challenging external environment. The world economic outlook weo database is created during the biannual weo exercise, which begins in january and june of each year and results in the april and septemberoctober weo publication. The 2016 survey includes 14 pieces of thought leadership that specifically focus on various aspects touching the industry. Recent growth has been due to growth in sales in commodities, services, and manufacturing.
In its january 2016 world economic outlook update, the imf revised forecasts for global growth down by 0. Economic and social burden of the 2014 ebola outbreak in west. This app gives users access to current and historical quarterly bulletin publications, and provides quick and easy access to related data and information. Key messages africa s growth remains largely unchanged, despite low commodity prices and slow pick up in trade.
The global economic growth outlook has improved, but is clouded by policy uncertainty as. Economic development in africa report 2018 united nations intra african migration is a catalyst for economic growth and structural transformation. It explores how foreign direct investment, portfolio investment, remittances and official development assistance have evolved in 2015 and 2016, and their outlook for 2017. The annual african economic outlook aeo monitors the continents state of affairs. Subsaharan africa is published twice a year, in the spring and. The african economic outlook 2017 presents the continents current state of affairs and forecasts its situation for the coming two years. The ninth edition of the african economic outlook portrays a continent that is slowly emerging from the lingering effects of the worlds deepest and most widespread economic crisis in half a century. The african economic outlook aeo was prepared by a consortium of three teams from the african development bank afdb, the oecd development centre and the united nations development programme undp. Growth is projected to remain strong in nonresourceintensive countries, averaging about 6 percent. The 2016 municipal elections indicated a possible sea change for the next national elections 2019 general election ge, where the current ruling alliance could lose its majority. Pakistan seeks to deepen relationship with african union. This 14th edition analyses regional development and spatial inclusion challenges faced. A remained low gdp growth in 2016 mostly due to low investments, power supply problems and.
World economic outlook april 2016 too slow for too long world economic and financial surveys. The economy of africa consists of the trade, industry, agriculture, and human resources of the continent. South africa economic outlook economic indicators, news. Economic overview in brief the south african economy, which grew by an estimated 0. Africa s gdp growth is projected to accelerate to 4. Another concern is rising debt, which may make it difficult for emdes to. Happening over the past 10 years, with average annual growth of 5. Real gdp, consumer prices, current account balance, and unemployment. Adi african development indicators aeo african economic outlook afdb african development bank agoa african growth and opportunity act amitsa regional agricultural input market information and transparency system for east and southern africa blns botswana, lesotho, namibia, and swaziland comesa common market for eastern and southern africa gdp gross domestic product. The african economic outlook aeo was prepared by a consortium of three teams from the african development bank afdb, the oecd development centre and the united nations development programme. Regional economic integration in africa hasan tuluy, 2016.
The african economic community aec is an organization of african union states establishing grounds for mutual economic development among the majority of african states. Home publications and notices reports annual economic. Hence these frameworks articulate the african union agenda for harnessing sti to boost economic growth and improve the lives of african people. Based on panel data of 41 african countries covering the period 20002010, the study finds a demographic youth bulge and poor economic growth from both supply and demand sides of the market to be key drivers of youth unemployment in africa. Essential among these are simplifying importexport proceduresincluding streamlining border administration to reduce the cost of procedures and delays during clearance, and improving the coordination of the clearance process. Despite the challenges, the outlook for subsaharan africa remains positive and significantly ahead of the global average.
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