To underpin growth, Africa needs to adopt a comprehensive approach to boosting trade
Despite its improved economic performance in recent years, Africa is still lagging on trade. Since 1970, trade (exports plus imports) in sub-Saharan Africa (SSA) has grown at three-fourths the world rate and only about half Asia's rate. Africa's share in world trade has thus fallen from 4 percent in the 1970s to 2 percent today (see Chart 1). Its trade openness (measured by the trade-to-GDP ratio) has also grown more slowly than that of any other major developing region, and, in 2001, Africa supplanted Latin America as the region of the world least open to trade.
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