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African Economic Outlook 2014

Global Value Chains and Africa's Industrialisation

image of African Economic Outlook 2014

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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Editorial

OECD Development Centre

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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