Africa and the new global trade relations
Author(s)/Corporate Author (s)Wangwe, S. M.;
Organization of African Unity;
United Nations. Economic Commission for Africa;
African Development Bank;
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Africa's share of world trade varied from 4.1 to 4.9% during 1960-65, fluctuated around 4.4% during the 1970s and declined consistently to 2.3% in 1987. During 1980-87 while world exports were growing at 2.5% p.a. Africa's exports were declining at 7.4% (UNCTAD,1993) The share of non-oil primary exports declined even more dramatically from 7% to 4% over the same period (Sharma,1993). One major characteristic of the changing position of Africa has, been the lack of competitiveness. 1.2 The major exports from Africa have been primary agricultural and mineral products. The structure of these exports has changed only marginally in the past two to three decades with their share in total exports falling from 92% in 1965 to 86% in 1987. For the low income countries of Africa, this share has even increased marginally from 92% in 1965 to 94% in 1987 (World Bank,1989).