Front Matter

Front Matter

Author(s):
Sanjeev Gupta, Kevin Carey, and Ulrich Jacoby
Published Date:
October 2007
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© 2007 International Monetary Fund

Production: IMF Multimedia Services Division

Cover Design: Lai Oy Louie

Typesetting: Alicia Etchebarne-Bourdin

Cover Photo: © Gideon Mendel/Corbis

Cataloging-in-Publication Data

Carey, Kevin Joseph, 1967–.

  • Sub-Saharan Africa: forging new trade links with Asia/Kevin Carey, Sanjeev Gupta, and Ulrich Jacoby—Washington, DC: International Monetary Fund, 2007.

    • p. cm.

  • Includes bibliographical references.

  • ISBN 978-1-58906-667-0

1. Africa, Sub-Saharan—Foreign economic relations—Asia. 2. Asia—Foreign economic relations—Africa, Sub-Saharan. 3. Africa, Sub-Saharan—Commerce. 4. Africa, Sub-Saharan—Economic conditions. 5. Africa, Sub-Saharan—Economic policy. I. Gupta, Sanjeev. II. Jacoby, Ulrich. III. International Monetary Fund.

HF3874.C374 2007

Disclaimer: This publication should not be reported as representing the views or policies of the International Monetary Fund. The views expressed in this work are those of the authors and do not necessarily represent those of the IMF, its Executive Board, or its management.

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Contents

Abbreviations

ACP

African, Caribbean, and Pacific

AGOA

Africa Growth and Opportunity Act

ATC

Agreement on Textiles and Clothing (WTO)

CEMAC

Communauté Économique et Monétaire de l’Afrique Centrale (Central African Economic and Monetary Community)

CNOOC

China National Offshore Oil Corporation

COMESA

Common Market for Eastern and Southern Africa

EBA

Everything But Arms initiative (European Union)

ECOWAS

Economic Community of West African States

EIA

U.S. Energy Information Administration

EU

European Union

GEPetrol

National Oil Company of Equatorial Guinea

GSP

Generalized System of Preferences (WTO)

ISO

International service outsourcing

LAC

Latin America and the Caribbean

MENA

Middle East and North Africa

MFN

Most-favored-nation

PRGF

Poverty Reduction and Growth Facility (IMF)

RTA

Regional trade agreements

SADC

Southern African Development Community

SITC

Standard International Trade Classification

WTO

World Trade Organization

Preface

Sub-Saharan Africa’s share in world trade has been declining since the 1970s. The growth in many emerging economies in Asia, in particular China, and the associated increased demand for commodities is creating opportunities for the region to reverse this decline and to use trade to promote growth and reduce poverty. This paper examines shifts in sub-Saharan Africa’s trade with different regions since 1985 as well as changes in its composition, including trade in manufactured goods. It also presents estimates on the extent to which sub-Saharan Africa is exploiting its trade potential, using a benchmark model. This is followed by an analysis of the impediments to trade that are specific to the region, and suggestions to tackle these in order to make trade an engine of growth.

An earlier, shorter version of this paper’s material appeared in the April 2007 issue of the Regional Economic Outlook: Sub-Saharan Africa. The authors wish to thank Benedicte Christensen, Arvind Panagriya, Volker Treichel, Dmitry Gershenson, and Yongzheng Yang for their guidance and help in preparing this paper, and Axel Palmason, Stephen Tokarick, Brad McDonald, Felix Eschenbach, Caroline Freund, Zhiwei Zhang, and Nuno Limão for helpful comments. They are grateful to Gustavo Ramirez for research assistance, Anne Grant for editorial assistance, Emma Morgan for production of the document, and Marina Primorac for coordinating production of the printed publication.

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