Publications

February 3, 2017

Regional Trade For Inclusive Development In West Africa

This
study examines the potential of regional trade in facilitating the achievement
of inclusive development in the West African region. It employs descriptive
analysis to examine the nature, composition and dimension of ECOWAS trade within
the group and with the rest of the world, vis–vis three other Regional
Economic Communities (RECs) in sub-Saharan Africa (SSA). From the preliminary
study, it can be observed that the growth rate of West African economies is
increasing, but the rising economic growth does not translate to improvement in
inclusive development, as there was no significant reduction in poverty levels in
the region. Further evidence reveals that extra-regional trade of the region is
increasing at a very high rate, and also at a disproportionate rate with
intra-regional trade, compared with SADC. This indicates the existence of
opportunity to boost regional trade for inclusive development through
conversion of part of the extra-regional trade into regional trade.

Download Label
March 13, 2018 - 4:00 am
application/pdf
827.71 kB
v.1.7 (stable)

Related

 

Nigeria Economic Update (Issue 36)

Recently released GDP figures reveals that the three major sectors recorded positive and negative growth rates individually in 2017Q2. Firstly, Agricultural sector grew Year on Year by 3.01 percent, down from 3.39 percent in 2017Q1- driven by weaker output in crop production and Fishing sub-sectors. This is not unconnected with the planting season and the shortage of grainsfor livestock/fish respectively.

Nigeria Economic Update (Issue 11)

Recently released report by the National Bureau of Statistics (NBS) indicates price increase of selected food items for the month of February 2017, relative to January 2017. Specifically, prices of the selected 24 food items ranged from N47.42 N1, 812 in January to N42.90 N1, 955.10 in February 2017. Average price of all selected items increased month-on-month by 2.7 percent to N540.05. Non-seasonal agriculture factors such as rising cost of crop production, imported products, and transportation continue to drive domestic food prices higher as domestic food supply contracts. This is also reflective of the high food inflation rate in February (18.53 percent) relative to 17.82 percent recorded in January 2017. Strengthening Nigerias crude oil production, supporting local agricultural production, and improving forex policies to straighten the naira remain critical in improving food supply and reducing inflation.