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African Economic Outlook 2013

Structural Transformation and Natural Resources

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The African Economic Outlook is the only annual report that monitors in detail the economic performance of 53 individual countries on the continent, using a strictly comparable analytical framework.

The focus of the 2013 edition if structural transformation and natural resources in Africa. This edition draws lessons from Africa and elsewhere on how to accelerate structural change and amplify the positive force of natural resources. The report also features and overview of Africa's performance and prospects, country notes and a rich statistical annex.

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Guinea-Bissau

OECD Development Centre

The country’s macroeconomic situation was affected by a coup d’état on 12 April 2012, and the economy is estimated to have contracted by 1.5% of gross domestic product (GDP) that year after having grown by 5.3% in 2011. The slowdown was mainly due to lower production and world prices of cashew nuts, which account for some 30% of the added value in the primary sector. The average price of cashew nuts fell from USD 1 350 (US dollars) a tonne in 2011 to USD 1 081 in 2012. Real GDP growth is expected to recover to 4.2% in 2013 and 3.5% in 2014. Inflation, which was 5.0% in 2011 due to higher import prices, should ease, thanks to expected macroeconomic evolutions, to 2.1% in 2012 (with 3.3% in 2013 and 2.5% in 2014) as the economy slowly recovers and domestic markets are adequately supplied.

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