African Economic Outlook

OECD Development Centre

Frequency :
Annual
ISSN :
1999-1029 (online)
ISSN :
1995-3909 (print)
DOI :
10.1787/19991029
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This fact-filled annual reference book brings the reader the latest available economic information for most of the economies of Africa. Drawing on the expertise of both the African Development Bank and the OECD, it opens with an overview that examines the international environment, macroeconomic performance, progress towards attaining the Millennium Development Goals, and governance and political issues. The second part provides individual country reports for 30 countries. Each country report provides an assessment of recent economic performance, economic projections, an examination of structural issues, and a discussion of the political and social context. The statistical annex presents 24 tables comparing economic and social variables across all the countries of Africa.

Also available in: French
 
African Economic Outlook 2014

Latest Edition

African Economic Outlook 2014

Global Value Chains and Africa's Industrialisation You do not have access to this content

OECD Development Centre

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Author(s):
OECD, AfDB, UNDP
Publication Date :
19 May 2014
Pages :
316
ISBN :
9789264209411 (PDF) ; 9789264209404 (print)
DOI :
10.1787/aeo-2014-en

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The African Economic Outlook 2014 analyses the continent’s growing role in the world economy and predicts two-year macroeconomic prospects. It details the performance of African economies in crucial areas: growth, financing, trade policies and regional integration, human development, and governance.

Country notes now cover all 54 African countries. They summarise recent economic growth, forecast gross domestic product for 2014 and 2015, and highlight the main policy issues facing each country. A statistical annex compares country-specific economic, social and political variables.

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    Foreword and Acknowledgements

    The African Economic Outlook (AEO) presents the current state of economic and social development in Africa and projects the outlook for the coming two years. The AEO is a product of collaborative work by three international partners: the African Development Bank, the OECD Development Centre and the United Nations Development Programme.

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    Editorial

    This 13th edition of the African Economic Outlook underscores the continent’s resilience to regional and global headwinds. In 2013, Africa grew by about 4%, on average, compared to 3% for the global economy, although with broad variations across regions and income groupings. Growth in sub-Saharan Africa was 5% in 2013 and is projected to be about 5.8% in 2014. Excluding South Africa, the figures are 6.1% and 6.8%, respectively. East and West Africa recorded the fastest pace of expansion, above 6%. Low-income countries also recorded growth of above 6%, and the upper-middle-income countries in North and Southern Africa at below 3%. Africa’s medium-term growth prospects have improved, on the back of broader political and social stability at home and recovering economic conditions abroad. In some countries and regions, growth is projected to return to levels last seen before the onset of the 2009 global recession.

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    Executive summary

    The African Economic Outlook 2014 announces steadily progressing economic and social conditions that bide well for the immediate future. The report analyses Africa’s participation in global value chains and shows how the continent is adapting to today’s dynamically changing markets.

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  • Expand / Collapse Hide / Show all Abstracts Africa’s performance and prospects

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      Macroeconomic prospects for Africa

      This chapter examines the recent macroeconomic developments in Africa and provides a forecast for 2014 and 2015. It is based on detailed country analyses and projections as described in Part three of this report. The chapter looks at the supply and demand conditions affecting Africa’s growth. It also describes the development of commodity prices and inflationary pressures in African countries and discusses monetary and fiscal policy stances, external positions, forecasting risks and policy challenges.

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      External financial flows and tax revenues for Africa

      This chapter analyses recent trends in development financial flows from African countries’ perspectives. It compares foreign direct investments, portfolio investments, remittances and official development assistance with the trends in tax revenues. It also describes the relative importance of each of these flows for various country income groupings. While different in nature, these flows constitute the main sources available for African countries to meet their financing needs. Using data starting from 2000, the chapter provides estimates for 2013 and projections for 2014.

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      Trade policies and regional integration in Africa

      This chapter reviews the recent progress of integration in various African regions. It looks at how trade is shaping African integration, obstacles to free movement of people and goods, and the importance of boosting Africa’s services sector to achieve a foothold in global value chains.

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      Human development in Africa

      This chapter recognises progress in human development in Africa, notably reducing poverty and improving education and health outcomes, and the role trade plays. It highlights the impacts of exclusion, gender inequality and unsustainable development. It also discusses the need to exploit the opportunities that value chains offer and to mitigate the risks they bring, using technology and innovation; doing so can help achieve greater human rights, sustainable economic development and social progress for all – goals of the post-2015 agenda. The chapter illustrates good practices and lessons learned in advancing equitable and sustainable human development.

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      Political and economic governance in Africa

      Democratic governance in Africa has improved overall since 2000. Helped by robust international responses, a deepening democratic experience may also be reducing the space for governments to engage in armed conflicts. In 2012 there were fewer than in 2000, and they were much less deadly. At the same time, public protests increased in recent years, centred on demands for jobs, better wages and government accountability. Government response has been limited and in some places repressive. In economic governance, initiatives to fight illicit capital flows and to increase transparency in extractives are encouraging, and the business environment is improving.

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  • Expand / Collapse Hide / Show all Abstracts Global value chains and Africa’s industrialisation

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      Global value chains in Africa: Potential and evidence

      Global value chains (GVCs) are driven by firms that optimise their sourcing strategies through the separation of production stages. GVC integration could accelerate structural transformation in Africa if combined with upgrading. Trade in value added serves to measure global value chains. Africa so far captures a small but growing share of them. Productivity gains from value chains have been easier to achieve than employment growth.

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      How ready is Africa for global value chains: A sector perspective

      Integrating into global value chains and upgrading within them depends on country-specific and value chain-specific factors. Taking this into account, this chapter examines value chains in agriculture, manufacturing and services in Africa. Lead firms play an important role in increasing domestic capacity to participate in global value chains, while regional and emerging markets may be more accessible for African producers and create opportunities for more value added.

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      What policies for global value chains in Africa?

      Global value chains magnify the need for a good business environment, for openness to trade and investments, and for skilled workers and capable firms and entrepreneurs. Policies for global value chains must maximise economy-wide opportunities while creating the optimal environment for the sectors with the greatest potential.

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  • Expand / Collapse Hide / Show all Abstracts Country notes

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      Country Snapshots
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      Algeria
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      Angola
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      Benin
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      Botswana
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      Burkina Faso
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      Burundi
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      Cabo Verde
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      Cameroon
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      Central African Republic
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      Chad
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      Comoros
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      Congo, Democratic Republic
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      Congo Republic
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      Côte d'Ivoire
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      Djibouti
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      Egypt
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      Equatorial Guinea
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      Eritrea
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      Ethiopia
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      Gabon
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      Gambia
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      Ghana
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      Guinea
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      Guinea-Bissau
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      Kenya
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      Lesotho
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      Liberia
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      Libya
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      Madagascar
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      Malawi
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      Mali
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      Mauritania
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      Mauritius
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      Morocco
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      Mozambique
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      Namibia
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      Niger
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      Nigeria
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      Rwanda
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      São Tomé and Príncipe
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      Senegal
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      Seychelles
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      Sierra Leone
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      Somalia
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      South Africa
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      South Sudan
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      Sudan
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      Swaziland
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      Tanzania
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      Togo
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      Tunisia
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      Uganda
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