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Economic Development in Africa Report 2015
delivery of services; and hold public–private dialogues on services issues and elaborate a clear services sector policy strategy that sets long-term development objectives for the sector. Africa is a marginal player in global services exports and imports. Only 11 African countries have consistently been net services exporters since 2005. In 2012, exports of services were $4.4 trillion globally and $1.3 trillion for developing countries (measured in current prices and at current exchange rates). The distribution of services exports worldwide in 2012 was as follows: 19.9 per cent in transport, 24.7 per cent in travel; and 55.4 per cent in other services, of which the largest portion was other business services. Total imports of services in Africa amounted to an estimated $173 billion in 2012, while exports of services totalled an estimated $98 billion (UNCTADStat, February 2015). In 2012, Africa accounted for only 2.2 per cent of the world’s total exports of services compared to 3.6 per cent for developing America and 24.3 per cent for developing Asia. Africa accounted for 4.0 per cent of total world services imports, compared to 5.2 per cent for developing America and 27.9 per cent for developing Asia. Figure 3 depicts the steep rise in imports of services in Africa around 2005 and a growing divergence thereafter between services exports and imports. Services exports, in nominal terms, grew on average 9 per cent per annum between 2005 and 2009, while services imports grew at a rate of 17 per cent. In 2011 and 2012, services exports grew at around 4 per cent per annum while services imports grew at a rate of 12 per cent in 2011. Such explosive growth may reflect an ongoing liberalization process in the services sector, due to a rising demand for certain types of services associated with economic development, such as construction booms (for instance in Angola and Ethiopia) and an uncompetitive and underdeveloped formal domestic services sector. Africa’s balance of trade in services as a share of GDP was -3.63 per cent in 2012 compared to 1.08 per cent for developing economies in general. At the country level, Egypt and South Africa are Africa’s two main global exporters, accounting for 0.49 per cent and 0.34 per cent of world services exports. Angola, Nigeria and South Africa are the main African global importers, accounting for more than 0.40 per cent of total world services imports. Only the following 11 African countries have consistently been net services exporters since 2005: Cabo Verde; Djibouti; Egypt; Eritrea; Kenya; Mauritius;