Trade report 2013
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Date
2014
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Publisher
EAC Secretariat
Abstract
In the community GDP growth remained strong averaging 5.1 percent where Tanzania recorded the highest economic growth rate of 7.1 percent. Inflation remained within a single digit range with Rwanda registering the lowest rate of 4.2 percent while both Tanzania and Burundi registering highest rates of 7.9 percent.
The world trade remained sluggish after recording a growth rate of 2.1 percent in 2013.
Trade between developing countries especially in the Asia region was much stronger than what it was with the developed countries. Africa’s exports declined by 3.4 percent during 2013 which can be explained by the 2012 recession in the European Union zone that extended to 2013. The European Union remains the major trading partner of the African countries and therefore any volatility in the EU affects African trade
Description
Annual report
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Citation
East African Community. (2014). Trade report 2013. EAC Secretariat