EMBARGOThe contents of this Report and the related press kit must not be quoted or summarized in the print, broadcast or electronic media before 14 July 2022 10:00 am GMT (6 am New York, 12 noon Geneva) |
African countries must diversify their exports to survive economic shocks from global crises such as the C
OVID-19 pandemic and the war in Ukraine, says a new UNCTAD report to be published on 14 July.
UNCTAD says African countries can diversify their economies through boosting exports of high-value services, expanding private businesses’ access to financial services, tapping into new financial technologies and implementing effective policies.
Despite decades-long efforts to diversify, 45 out of the continent’s 54 countries remain dependent on exports of primary products in the agricultural, mining and extractive industries.
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About UNCTAD
UNCTAD is the UN’s leading institution dealing with trade and development. It is a permanent intergovernmental body established by the United Nations General Assembly in 1964.
UNCTAD is part of the UN Secretariat and has a membership of 195 countries, one of the largest in the UN system. UNCTAD supports developing countries to access the benefits of a globalized economy more fairly and effectively.
We provide economic and trade analysis, facilitate consensus-building and offer technical assistance to help developing countries use trade, investment, finance and technology for inclusive and sustainable development.
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