Download PDF by Organisation for Economic Co-Operation and Development: African Economic Outlook, 2003 2004

By Organisation for Economic Co-Operation and Development

ISBN-10: 9264016244

ISBN-13: 9789264016248

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The surplus is expected to grow in 2004 when Chad passes from deficit to surplus with the first full year of production from the Doba oilfield, but the region has a substantial current account deficit due to factor income and imported services for the oil sector. In the CEMAC area, only Congo and Gabon comply with the balanced current account criterion. Outside CEMAC, Congo (DRC) had a trade deficit in 2003 because of reconstruction-related imports. East Africa All countries have a large trade deficit which makes for a regional figure of just over 10 per cent of GDP.

World Bank (2003), Word Development Indicators 2003, Washington DC. towards attaining this target has been examined with reference to two indicators: the ratios of girls to boys in primary, and in secondary and tertiary education. It is to be noted that 12 and 21 countries respectively African Economic Outlook had no data for these two indicators. However, African countries seem to be making good progress towards closing the gender gap in primary education, with 13 countries having already achieved the target and © AfDB/OECD 2004 Overview 16 countries on track.

In the CEMAC area, only Congo and Gabon comply with the balanced current account criterion. Outside CEMAC, Congo (DRC) had a trade deficit in 2003 because of reconstruction-related imports. East Africa All countries have a large trade deficit which makes for a regional figure of just over 10 per cent of GDP. Since most countries get transfers in the form of ODA, the regional current account deficit is smaller, at a sustainable 3 per cent in 2002. Southern Africa Angola’s and Botswana’s strong trade surpluses and a more modest one in South Africa (sharply cut in 2003/2004 by the strength of the rand), along with deficits in most other countries, especially Zambia and Mozambique, give the region a fairly even trade balance.

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African Economic Outlook, 2003 2004 by Organisation for Economic Co-Operation and Development


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