African … The World Bank population-weighted Gini index shows that inequality rose steeply between 1988 and 1998 and declined only moderately by 2013. If successfully implemented, the agreement will create a single African market of over a billion consumers with a total GDP of over $3 trillion. Sub-Saharan Africa Learning What Works. 2018. Diversification should also lead to increased sophistication of export products. Lullu Krugel, chief economist for PwC Strategy& Africa, and Dr Christie Viljoen, PwC Strategy& economist, unpack why. Analysis of sectoral quality shows that some richer and more open countries have well established manufacturing exports, such as South Africa and Morocco. Africa’s Pulse: Charting the Road to Recovery. The World Bank statistics from 2018 recorded a total population of 1.078 billion citizens, making it the second largest populated region in the world (World Bank 2018a). This is an important reason to expect that trade will be a key driver of growth in Africa. The scale of AfCFTA’s potential impact makes it vital to understand the main drivers of the agreement and the best methods to harness its opportunities and overcome its risks and challenges. of Sub-Saharan Africa to Financial Crises Nicolas Berman Philippe Martin December 2011 When citing this paper, please use the title and the following reference number: F-3011-NOC-1. The regional economy is projected to grow by more than 3% following the 2020 recession. Product sophistication refers to the share of value addition in a product, or product upgrading. Over 300 million African consumers are already in the global middle class. Alternatively, the share of intra-African trade would increase by nearly 40 percent to over 50 percent, depending on the ambition of the liberalization, between the start of the implementation of the reform (2020) and 2040.2. In 2018, member countries of the African Union took a major step to boost regional trade and economic integration by establishing the African Continental Free Trade Area (AfCFTA). A key reason for the fall in U.S.-Africa trade is a shift in American energy demand. Increased value addition and sophistication increases productivity and increases the overall value of exports.6. Residents of the Sahara and the Sahel generally must trade for food with the coastal zones. In fact, manufactured goods make up a much higher proportion of regional exports than those leaving the continent—41.9 compared to 14.8 percent in 2014. Sub-Saharan Africa’s trade experienced a rapid expansion over the past 20 years. U.S. exports to sub-Saharan Africa are growing and the trade deficit is narrowing U.S. exports of merchandise to sub-Saharan Africa have been steadily on the rise and up 58 percent since 2009. Agra. 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