Trade, accumulation and industry

The major challenge facing a large number of low-income, predominantly agrarian economies in Africa is how to break out of the vicious circle of low productivity and heavy dependence on a small number of primary commodities. The challenge is a long-standing one. Efforts in most countries in the years following independence tended to concentrate heavily on developing import- substituting industries in order to increase productivity and diversify the production structure. Today the emphasis has shifted to improving export performance. It has been increasingly recognized that, given the limited size of domestic markets and the dependence on the import of intermediate and capital goods, expanding export capacity and increasing international competitiveness are vital for rapid growth and development.

Sustainable Development Goals:

Decent Work and Economic Growth

Partnerships for the Goals