Regional FDI Share, Percentage of Total World FDI

PERFORMANCE AND PATTERNS OF AFRICAN
-
ASIAN TRADE AND INVESTMENT FLOWS
69
recent years, the average annual growth rate of FDI flows to Africa was percent, comparable to the 20 percent growth rates of China and India. Still,
in spite of Africa’s rapid growth of FDI, the continent accounts for 1.8 percent of global net FDI flows. More than half of the world’s FDI goes to North America and Western Europe, and 20 percent goes to East Asia (see figure 2.8).
Patterns of Merchandise Trade Flows Between Africa and Asia
During the last 15 years, trade flows between Africa and Asia have been rapidly increasing. This is the hallmark of the recent growth of South-
South trade and investment, which is a significant feature of recent devel-
Africa’
s exports to Asia
($ billions)
0 5
10 15 20 25 30 35 40 45
Africa’
s imports from Asia
($ billions)
0 5
10 15 20 25 30 35 40 45 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 FIGURE 2.9
Africa’s Exports and Imports with Asia 1990–2005
Source: IMF Direction of Trade Statistics.
Note: The 2005 figures were based on data for exports and imports for the first 10 months, adjusting for November and December’s exports with the average monthly exports of January to October 2005. Asia includes Afghanistan, Bangladesh, Brunei, Cambodia, China (including Hong Kong and Macao, India, Indonesia, Japan, the Democratic People’s Republic of Korea, the Republic of
Korea, the Lao People’s Democratic Republic, Malaysia, Maldives, Mongolia, Myanmar, Nepal, Pakistan, Philippines, Singapore, Sri
Lanka, Taiwan (China, Thailand, and Vietnam. Note that the differences in total trade values between these graphs and tables and 2.2 result from using different data sources.
02-Chap2:02-Chap2 10/9/06 2:41 PM Page 69

70
AFRICA
’
S SILK ROAD
:
CHINA AND INDIA
’
S NEW ECONOMIC FRONTIER
opments in the global economy.
6
Africa’s exports to Asia have been growing rapidly since 1990 and have accelerated since Figure 2.9 shows that, while the 15 percent growth of Africa’s exports to Asia during was especially rapid compared to other regions, over the last five years, total exports of African countries to Asia have grown at an even faster rate of 20 percent. In fact, since 2003, the annual growth rate has reached an all-time high of 30 percent.

Download 5.17 Mb.

Share with your friends: