International Trade: The Position of Africa in Global Merchandise Trade

Result code in IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F62156489%3A43310%2F17%3A43911764" target="_blank" >RIV/62156489:43310/17:43911764 - isvavai.cz</a>

Result on the web

<a href="https://doi.org/10.5772/intechopen.68897" target="_blank" >https://doi.org/10.5772/intechopen.68897</a>

DOI - Digital Object Identifier

<a href="http://dx.doi.org/10.5772/intechopen.68897" target="_blank" >10.5772/intechopen.68897</a>

Result language

angličtina

Original language name

International Trade: The Position of Africa in Global Merchandise Trade

Original language description

Even though global trade has fluctuated over the years, it has also rapidly increased. However, the structure and pattern of trade vary significantly by-products and regions. Undoubtedly, trade has come with both benefits and daunting challenges to countries involved, especially in African nations, where primary and intermediate merchandise formed a substantial share of exports. Because advanced and newly industrialized economies have better technology and know-how, manufacturing industries, access to finance, and market than Africa, they have a greater market proportion in the world trade. Arguably, African countries have been left in the cold as they struggle to compete with advanced economies. As presented in this chapter, Africa has been struggling to be relevant in the world market. However, its global share of merchandise trade has reduced over the decades. This is partly because the continent has concentrated on the exportation of few primary commodities (i.e., mineral fuels, iron ores, gold, cocoa beans) with volatile prices and demand in the global markets. The frequent global oil crunch other raw products are a wake-up call for a rapid industrialization and diversification for competitiveness in Africa. The World Trade Organization (WTO) has to ensure that defensive trade remedies should not be the next frontier of protectionism. Finally, for trade, growth, and development to be stimulated, African countries should urgently open their markets to expand intra-African trade.

Czech name

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Czech description

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Type

C - Chapter in a specialist book

CEP classification

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OECD FORD branch

50204 - Business and management

Project

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Continuities

I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Publication year

2017

Confidentiality

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Book/collection name

Emerging Issues in Economics and Development

ISBN

978-953-51-3529-6

Number of pages of the result

25

Pages from-to

65-89

Number of pages of the book

89

Publisher name

InTech Open Access Publisher

Place of publication

Rijeka

UT code for WoS chapter

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