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Economic Report on Africa 2015

Industrializing Through Trade

image of Economic Report on Africa 2015
This report examines and provides analysis on the critical elements of effectively fostering industrialisation and hence structural transformation based on extensive review of experience with industrialised countries and Africa’s post-independence attempt at industrialisation. Ten country case studies were also conducted to shed light on industrialising through trade. The findings from this exercise inform the policy recommendations contained in this report.

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Repositioning Africa in global value chains and facilitating trade in intermediates and services

Global value chains (GVCs) are an important feature in today’s global economy. African countries show high participation in them, though at very low rungs of the ladder: that is, participation does not guarantee structural transformation. Africa needs to focus on improving its backward integration—the share of value added embedded in its country’s exports—expanding GVC linkages to other areas of the economy. Trade-integrated regions are more attractive to lead firms in GVCs, and hence intra-regional trade in processed goods via regional value chains (RVCs) is the first opportunity for African firms to seize.

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