Africa-EU

European Commission Eurostat

Description

Economic indicators, trade and investment
General statistics
Africa, Caribbean and Pacific
External trade
Target audience: Specialised/Technical

Informations

• Publié par: EUROPEAN-COMMISSION-EUROSTAT
• Nombre de lectures: 13
• Langue: English

Extrait

General and regional statistics External trade Economy and finance Author: Georgios XENELLIS

S t a t i s t i c s i n F o c u s 59/2010

AfricaEU: economic indicators, trade and investment

Trade in goods affected by global crisis: EU27 imports down 33%

In recent years, GDP in African countries has surplus observed in the trade of services in 2007 progressed at a faster pace than in the European increased to EUR 3.7 billion in 2008. Union, but it has been offset by a comparatively high increase in consumer prices. Furthermore, Between 2000 and 2008, nominal GDP growth in the global economic crisis had a considerable Africa as a whole increased at a faster pace than impact on GDP and trade in goods in 2009. that of the European Union. In 2008, total GDP in Since 2004, the value of extraEU trade in goods the EU27 stood 36 index points above its base with Africa has risen substantially, with imports year value (2000), while that of Africa progressed (mainly energy products) consistently higher by 67 index points over the same period. Due to the than exports (especially machinery and global economic crisis, GDP in the EU27 fell by transport equipment). The economic crisis 8 index points in 2009. The corresponding 2009 abruptly ended this trend: in 2009, the value of figure for Africa as a whole is not yet available. EU27 imports from Africa decreased by 33% and EU27 exports to Africa fell by nearly 10%, Obviously, aggregate data mask large disparities resulting in a near trade balance. with regard to the ‘weight’ of the individual countries. The largest contributors to Africa’s GDP In 2009, Libya was the foremost African are South Africa, Nigeria, Egypt, Algeria, Morocco exporter of goods to the EU27, and South and Libya. However, the picture changes Africa was the main destination for EU27 considerably when considering GDPper capita. exports to Africa. The EU27’s small trade Figure 1:Per capitaGross Domestic Product (GDP) at current prices in 2007, 2008 and 2009 (in EUR) Africa EU27 1 080 26 000 1 060 25 000 1 040 1 020 24 000 1 000 23 000 980 960 22 000 2007 2008 2009 2007 2008 2009 Source:Africa: African Statistical Yearbook – EU27:Eurostat / National Accounts (nama_gdp_c). This is the second publication prepared jointly by Eurostat and the African Union (AU) Commission’s Statistics Unit in the framework of the promotion of economic governance as foreseen by the Joint Africa EU Strategy( http://www.africaeupartnership.org/)