The importance of services for the African Continental Free Trade Area: An academic perspective

The services sector currently constitutes a significant percentage of the world economy. Research shows that the top three sectors that received foreign direct investment (FDI) were software and IT services, business services and real estate.1 In sub-Saharan Africa, trade in services account for nearly half of gross domestic product (GDP) and 10% of trade.2 For countries such as Mauritius, the services sector is the largest contributor to GDP, contributing almost three-quarters of its economic output.