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Africa and Global Economic Trends Quarterly Review - Fourth Quarter 2013
Global trade growth picked up in 2013 relative to the latter half of 2012, helped by stronger final demand in the major advanced economies. However, key indicators do not point to further acceleration in the near term. Slower growth in the emerging economies is also restraining export growth from developing economies, especially major commodity producers and trading partners linked via global supply chains. Recent IMF outlooks project a gradual strengthening of trade growth to 4.5% in 2014, in conjunction with improving global output, which is expected to rise to 3.7% this year, up from 3.0% in 2013, largely reflecting improvements in the advanced economies.