Lusaka: In the year 2010, the COMESA region experienced an increase in average annual Real GDP growth of 5.08% up from 3.51% in the previous year (see Figure 1 in the report). The soaring global demand for commodities is arguably a key driver of the enhanced GDP growth experienced in 2010. Prices for oil, minerals, grain and other raw materials also continued to rise. These figures are contained in the 2011 COMESA International Trade Statistics Bulletin released today by Comesa.
Africa's growth outlook as a whole remains optimistic after the strong economic rebound from the global financial crisis. At country level, a number of economies within the COMESA region performed above the 6% real growth rate and these were: Ethiopia (8.8%), Zimbabwe (8.2%), Libya and Rwanda both at 7.4%, Malawi (6.7%), Zambia (6.6%) and DRC (6.1%). Ethiopia and Zimbabwe ranked among the top five on the African continent.
Global trade for the COMESA countries in 2010 grew by 20% from US$ 204 billion in 2009 to US$ 244 billion in 2010. Specifically, total exports rose to US$ 107 billion, up from US$ 85 billion the previous year, an increase of 26%, while imports also registered a growth of 16%, from US$ 119 billion in 2009 to US$ 137 billion in 2010.
* Table of contents to the 2011 Comesa International Trade Statistics Bulletin
2. International Commodity Prices
Oil and petroleum
Minerals and Metals
3. COMESA's Trade with Key Markets
4. Merchandise Trade by Product
Ores and Metals
Agriculture Raw Materials 20
5. Intra COMESA Trade
Part II. Trade in Commercial Services by COMESA Countries 45
Trade in Transport Services
Trade in Travel Services
About the Data
The COMSTAT On-line Database
* Readers can access the 68 page report (right click) here.