African Economic Outlook 201101 Jun 2011
The yearly African Economic Outlook covers economic, social and political development in 51 of the continent’s 53 countries. It is published with financial support from the European Union and the Committee of African, Caribbean and Pacific Group of States (ACP).
The report is co-authored by the African Development Bank (AfDB), the Organization for Economic Cooperation and Development (OECD), the United Nations Development Programme (UNDP) and the United Nations Economic Commission for Africa (UNECA).
- While traditional donors, as a whole, still account for the largest proportion of Africa’s trade (62 percent), investment (80 percent) and Official Development Assistance (90 percent), the report notes that emerging economies can provide additional critical assistance.
- Africa's total trade has more than doubled over the last decade – from less than USD 247 billion to USD 629 billion in nominal terms.
- The speed of the rise of emerging partners in Africa is stunning: The US share of Africa’s trade was more than three times China’s in 2000 but China surpassed the US and became Africa’s main trading partner in 2009.
- Africa’s top five trade emerging partners are China (38%), India (14%), Korea (7.2%), Brazil (7.1%), and Turkey (6.5%).