Services have grown tremendously in importance in Africa in recent years, accounting for a significant proportion of the continent’s economic activity and output. For example, in 2018-19, services were the major driver of economic growth in 25 of 54 African countries, accounting for more than 50 per cent of real economic growth.
Despite the growing importance of Africa’s services, they have continued to face challenges. Among others, the levels of awareness are low both within governments and the private sector about the potential for trade in services, partly because of a lack of information and shortages of data, as well as poor infrastructure, unsupportive policies, weak institutions and inappropriate regulatory frameworks. Invariably, unlocking the potential of services trade requires that its potential be understood and supported in African policy-making processes at all levels.
This tenth edition of Assessing Regional Integration in Africa delves into the theme: “Services Trade Liberalisation and Integration under the AfCFTA”.
It is a joint publication of the Economic Commission for Africa (ECA), the African Union Commission (AUC), the African Development Bank (AfDB) and UNCTAD.
Policy makers and other stakeholders in the development sphere are encouraged to read this publication to unravel and address the difficulties and challenges associated with trade in the priority services: transport, communications, financial services, tourism, and business services.
