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Economic development in Africa report 2015

Unlocking the potential of Africa’s services trade for growth and development

image of Economic development in Africa report 2015
The Economic Development in Africa Report 2015 subtitled Unlocking the Potential of Africa's Trade in Services for Inclusive Growth and Development highlights the catalytic role services can play in Africa, and the importance of understanding the static and dynamic effects the development of services may have on employment, trade and ultimately growth. The report examines areas where there appears to be a policy disconnect between existing national, regional and global policies that pertain to services trade and proposes recommendations as to how African countries may bridge this divide so that services trade can be better harnessed to address inclusive growth and economic development priorities in Africa.

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Introduction

Africa’s services sector holds tremendous economic promise. It contributes to almost half of the continent’s output, and a number of African countries have emerged as services-oriented economies. Indeed, growth in services has been vibrant in Africa, at more than twice the average rate for the world during 2009–2012. The sector’s performance has undoubtedly contributed to Africa’s growth trajectory of the past decade.

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