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Terms of Trade Effects on Gross Domestic Income (GDI), 1997–2003
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- The Average Shares of Exports by Technology Level
| Terms of Trade Effects on Gross Domestic Income (GDI), 1997–2003 7.5 2.3 2.1 0.8 1.0 0 2 4 6 African oil countries African metal exporters African agricultural exporters China India percent Source: Goldstein et al. 2006. 0 10 20 30 40 50 60 70 80 90 100 1980 1983 1986 1989 1992 1995 1998 2001 Middle East and North Africa Sub-Saharan Africa Asia Latin America Europe percent FIGURE 2.6 The Share of Raw Materials as Percentage of Total Exports, by Region Source: UNCOMTRADE. Note: Raw materials include agricultural raw materials, crude petroleum, ores, and coal. Asia excludes Japan, Republic of Korea, and Singapore. All other regions are restricted to low- and middle-income countries only. 02-Chap2:02-Chap2 10/9/06 2:41 PM Page 66 PERFORMANCE AND PATTERNS OF AFRICAN - ASIAN TRADE AND INVESTMENT FLOWS 67 rising prices for major African export commodities have contributed significantly to African countries Gross Domestic Income (GDI), as illustrated in figure 2.5. In comparison, commodity price increases have contributed little to China and India’s GDI growth. Asia EU LAC MENA SSA 0 5 10 15 20 25 30 35 40 45 50 0 10 20 30 40 50 as % of total exports (average 1983–85) as % of total exports (average 2003–05) low technology medium-low SSA LAC MENA Asia EU Asia EU LAC MENA SSA 0 5 10 15 20 25 30 0 5 10 15 20 25 30 as % of total exports (average 1983–85) as % of total exports (average 2003–005) medium-high high technology Asia LAC EU & MENA SSA FIGURE 2.7 The Average Shares of Exports by Technology Level Source: UN COMTRADE. Note: Technical levels were based on Organisation for Economic Cooperation and Development definition. Asia excludes Japan, Republic of Korea, and Singapore. All other regions include low- and middle-income countries only. 02-Chap2:02-Chap2 10/9/06 2:41 PM Page 67 68 AFRICA ’ S SILK ROAD : CHINA AND INDIA ’ S NEW ECONOMIC FRONTIER African exports are heavily oriented toward raw materials, the share of which is second only to the Middle East and North Africa (figure Although Africa made good progress in reducing its dependency on raw materials in the late sit has not made progress since then. Figure 2.7 shows the technology content of exports among developing regions. For Asia, the share of low technology and medium-high technology exports has decreased (below the diagonal line) or been stagnant (on the diagonal line) over the last two decades. However, the shares of medium-low and high technology exports have increased drastically (above the diagonal line. There is a clear pattern that Asia is moving up the technology ladder of the world trade. Africa has also seen some increase in low and medium-high technology exports shares, indicating that it is moving up the technology ladder where Asia is putting less emphasis. However, Africa’s shift in the share of medium-high technology exports mainly came from the two regional superpowers, Nigeria (refined petroleum exports) and South Africa (machinery and transportation equipment exports. Indeed, overall, Africa’s shares of low and medium-low technology exports is at a lower- middle position among all developing regions. Its shares of medium-high and high technology exports are the lowest among all developing regions. Since 1990, flows of foreign direct investment (FDI) to developing countries have increased rapidly, including those to Africa, China, and India. 5 In North America (17.0%) Latin America and the Caribbean (9.2%) Sub-Saharan Africa (Pacific (Middle East and North Africa (1.1%) Western Europe (Eastern Europe and Former Soviet Union (South Asia East Asia FIGURE 2.8 Download 5.17 Mb. Share with your friends:
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