Arab Today, arab today imfsouth africa plays engine role in regional trade
Last Updated : GMT 12:48:35
Arab Today, arab today
Arab Today, arab today

IMF : South Africa plays \"engine role\" in regional trade

Arab Today, arab today

Arab Today, arab today IMF : South Africa plays \"engine role\" in regional trade

Cape Town - Xinhua

South Africa is the engine of trade on the continent, accounting for 4 percent of total imports from the sub-Saharan Africa and 6 percent of total exports, the International Monetary Fund (IMF) has said. South Africa is a major source of trade in intraregional exports which have a large share of products with higher local value added, the IMF said in a report available to Xinhua on Thursday. \"In 2009, manufactured exports accounted for more than 10 percent of intraregional exports, with South Africa accounting for 55 percent of total intraregional manufactured exports, followed by Kenya, accounting for 11 percent,\" the report said. \"Food and beverages account for about 10 percent of intraregional exports, with Madagascar, South Africa, and Zambia being the main exporters of these products,\" said the report. Intraregional trade was growing, accounting for 14 percent of total trade last year, compared with seven percent in 1990, according to the report. Opportunities for intraregional trade could grow more considerably if barriers were removed -- among them poor transport facilities, said the report. An investment of 20 billion U.S. dollars \"for an initial upgrading of sub-Saharan Africa transport infrastructure, followed by one billion dollars in annual spending for maintenance, could expand overland trade among the region\'s countries by about 250 billion dollars,\" the IMF said. The region\'s trade is also growing with other emerging markets. By last year, its share of trade with Brazil, India and China reached about 3 percent, 6 percent and 17 percent respectively, \"rising from negligible shares in the 1990s,\" the report said. But the report noted that with growth in Europe threatening to stall this year, new markets are becoming more important to Africa. Europe has been one of the major destinations for the continent\'s exports. \"Between 1990 and 2010, the share of SSA (sub-Saharan Africa) exports to advanced economies fell from 78 percent to 52 percent; and the share of SSA imports from those countries fell from 73 percent to 43 percent,\" the report said. Non-traditional partners now account for about 50 percent of sub-Saharan Africa\'s exports, according to the IMF. The geographic shift had been relatively fast, particularly over the past 10 years, the IMF said. The report said intraregional integration could increase the economies of scale in the region. By making production cheaper, the trend would make goods more competitive, attract foreign direct investment and build up domestic industries in the region, said the report. The IMF stressed the need to use \"revenue from resources to improve general education and lifelong learning, finance research and development incentives, strengthen information and communications technology, provide high-quality public infrastructure, as well as strengthen institutions.\"  

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today imfsouth africa plays engine role in regional trade Arab Today, arab today imfsouth africa plays engine role in regional trade

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today imfsouth africa plays engine role in regional trade Arab Today, arab today imfsouth africa plays engine role in regional trade

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today

GMT 09:49 2017 Tuesday ,02 May

Girl barred from Malaysia chess competition

GMT 17:59 2017 Monday ,12 June

Designer Rania Adel reveals her new collection

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse

GMT 16:25 2017 Sunday ,04 June

“Suhoor” is basic meal for fasting

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 11:09 2017 Sunday ,25 June

HUAWEI P10 the ‘guru’ of portrait shots
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday