africa

Yale Center for the Study of Globalization
Figure 22.1: Value of Africa’s Exports, by Sector
Source: WTO Statistics Database, available at: http://stat.wto.org/StatisticalProgram/WSDBStatProgramSeries.aspx?Language=,
accessed 05 March 2014.
Indeed, Africa’s exports have been highly concentrated around natural resources.
As measured by the Herfindahl-Hirschmann index, Africa’s exports have become
far more concentrated than exports from developing countries in general, and from
Asian developing countries in particular (Table 22.2). Commodity exports have helped
reduce trade imbalances across Africa, but if the trends in oil-exporting countries
are excluded from the calculation, Africa’s net exports have continued to be negative—indicating
the challenges faced by non-oil exporters (ECA and AUC, 2014: 5).
Table 22.2: Export Concentration Index, Selected Regions and Years
1995 2001 2007 2012
Developing Economies: Africa 0.249 0.305 0.455 0.452
Developing Economies: Asia 0.094 0.117 0.126 0.125
Developing Economies: All 0.092 0.114 0.139 0.141
Source: UNCTADStat at http://unctadstat.unctad.org/TableViewer/tableView.aspx?ReportId=120, accessed
19 March 2014.
The concentration of Africa’s exports has been exacerbated by the commodity price
boom of the 2000s, which has been driven by unprecedented growth and demand
from emerging markets. Aside from a dip following the onset of the global financial
crisis, the prices for all commodity groups have been surging (ECA and AUC, 2013:
75). Although prices are currently moderating, they are likely to remain at historically
high levels in the foreseeable future. Rising returns to commodity production
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