World Economic outlook - Africa Economic Growth forecast 2012 : Economic Growth in Africa fell by almost half in 2011 compared to the growth registered in the previous year.
Speaking at the African Union (AU) Commission meeting in Addis Ababa, Ethiopia, Abdoulie Janneh, executive secretary of the UN Economic Commission for Africa said growth on the continent fell to 2.7 percent in 2011 from nearly 5 percent in 2010.
Violent uprisings hit North Africa, which saw the deposal of leaders in Egypt, Tunisia and Libya.
ECA's report, he said, indicated that growth continued to be propelled by better economic management, increased agricultural production, fairly strong commodity exports and increased domestic demand.
"Africa's prospects for 2012 would seem encouraging, but given current global economic uncertain, I would urge continuous vigilance as the signs are ominous and we may face serious threats," Janneh continued.
Trade within Africa stood at between 10 and 12 percent, compared with 40 percent in North American and 63 percent of trade by countries in Western Europe trading amongst themselves.
A continental Free Trade Agreement, already in the pipeline, would encompass 54 countries, more than one billion people and have an estimated Gross Domestic Product of more than US$2.5 trillion.
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