Fastest-growing region in Africa suffering from slow pace of structural transformation

Abstract

Despite being the fastest growing sub-region of the continent with an economic growth rate of 6.7% - second in the world to East Asia, East Africa is lagging behind in terms of its structural transformation. According to the Economic Commission for Africa’s Country Profiles, which were launched on Saturday during the Africa Development Week in Dakar, Senegal. The 2016 reports show the level of industrialization and transformation in Burundi, Djibouti, Madagascar and Somalia is particularly low and does not seem to have advanced over the last decade. The ECA Country Profiles were originally designed in 2015 in accordance with Resolution 917 of the Conference of African Ministers of Finance, Planning and Economic Development (Abuja, 2014), with the aim to provide African decision-makers with an independent analysis of their countries’ economic and social development including the progress made to achieve regional integration. The country profiles are based on data provided by member States and they complement ongoing ECA efforts to improve the collection and use of statistical data in Africa. The countries covered in the 2016 Country Profiles are Algeria, Angola, Burundi, Cabo Verde, Chad, Central African Republic, Djibouti, Equatorial Guinea, Gabon, The Gambia, Ghana, Madagascar, Malawi, Mauritania, Mauritius, Mozambique, Nigeria, Somalia, South Africa, Swaziland and Tunisia.