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Africa Economy in April 2015

Source: OPEC 4/26/2015, Location: Africa

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The economy of Egypt expanded 4.3% y-o-y in 2014, notably higher than 2013 growth of 1.5%. Domestic demand has notably improved in 2014 and increased to 5.7% y-o-y in the first three quarters, up from 1.0% growth in 2013. Investment markedly accelerated last year by 12.6% in the first three quarters, from 2013’s contraction of 11.1%. On the other hand, the broad-based fall in commodities’ prices has largely caused exports to decline 3.0% in 2014, after witnessing an increase of 1.6% in the previous year.

In South Africa, GDP growth decelerated in 2014 to 1.5% y-o-y, down from 2.2% in 2013. Last year’s growth was the lowest since the 1.5% contraction in 2009. Private consumption expenditure was significantly lower last year with an increase of only 1.4% over 2013, when private consumption grew by 2.9%. Investment contracted in 2014 by 0.6% compared with the 1.5% increase in 2013. Exports of goods grew by 2% last year, down from 4.5% in 2013.



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