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Policy Brief on the Financial Crisis - The Financial Crisis, Trade and Regional Integration in Africa
Trade has been a key driver of Africa’s growth surge in the last ten years. The sustainability of this trade-led growth is now threatened at a time when progress in the Doha Development Round has stalled and fears of incresaed trade protection are growing.
Africa’s share of global trade is still low, amounting to only 3 percent in 2008. In addition, intra-African trade remains modest, representing just 8.3 percent of exports and 9.3 percent of imports. The continent’s poor performance is a result of both infrastructural constraints and poor trade facilitation such as customs and standards that make the movement of goods on the continent costly, thereby reducing its competitiveness in global trade.