Norwegian-African Business Summit Introductory remarks Minister of Trade and Industry Trond Giske Oslo, 29. September 2011
GDP growth rates in 2015 – forecast Annual percent change
≥ 10 % 6 – 10 % 3–6% <3% no data
Source: IMF World Outlook
”When people talk about the global credit crisis, the BRIC countries talk about the North Atlantic credit crisis.”
Jim O’Neill - March 2010
Worldâ&#x20AC;&#x2122;s ten fastest-growing economies Average annual GDP growth, percent 2001- 2010 Angola China Burma Nigeria Ethiopia Kazakhstan Chad Mozambique Cambodia Rwanda
11.1 10.5 10.3 8.9 8.4 8.2 7.9 7.9 7.7 7.6
Source: IMF World Economic Outlook September 2011
2011- 2015 China India Ethiopia Mozambique Tanzania Vietnam Congo Ghana Zambia Nigeria
9.5 8.2 8.1 7.7 7.2 7.2 7.0 7.0 6.9 6.8
â&#x20AC;?In Africaâ&#x20AC;&#x2122;s case, the economic performance in the last decade gives the continent a unique opportunity to claim a more active role and a stronger bargaining position in the global arena.â&#x20AC;? Rwandan President Paul Kagame Speaking in Paris on 13 September 2011
Africa tomorrow
Africa today
$ 1.6 trillion
$ 2.6 trillion
collective GDP in 2008
collective GDP in 2020
$ 860 billion
$ 1.4 trillion
consumer spending in 2008
consumer spending in 2020
500 million
1.1 billion
people of working age
people of working age in 2040
Africa tomorrow
Source: McKinsey Global Institute, June 2010.
Norwayâ&#x20AC;&#x2122;s trade with the African continent 2000-2010 In millions of USD 3 000
2 500
2 000
Imports
1 500
Exports Total trade
1 000
500
0 2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
Norwegian trade delegation to Africa â&#x20AC;&#x201C; November 2011 Offshore
Renewable energy
Trade
Ghana Angola
Investments
Mozambique
Norwegian-African Business Summit Introductory remarks Minister of Trade and Industry Trond Giske Oslo, 28. September 2011