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GDP

What It Takes for Trade to Reduce Poverty in Africa

Otaviano Canuto's picture

Despite tremendous progress in poverty reduction over the last two decades, poverty still persists. Along with South Asia,  Africa is a region where large numbers of people continue to live in extreme poverty. It is also a region where there is clearly room for higher foreign trade levels (see Chart). Given that trade can generate growth – and thus poverty reduction – focus on trade-related reforms (e.g. lower tariffs, better logistics, and trade facilitation)  deserves to be a high priority of the region.

Not All That Glitters Is Gold

Otaviano Canuto's picture

imageGross Domestic Product, better known as GDP, is the market value of all final goods and services produced within a country in a given period. That's why GDP per capita is widely used as a summary indicator of living standards in a country. No wonder we keep our eyes closely on its evolution and compare its levels among countries.