A Study Of The Relationship Between Export Concentration And Economic Growth Of African Countries

Africa is a continent of vast territory and abundant resources whose economy has a massive potential.Into 2000,Africa's Economy develops rapidly,and the average economic growth rate reached 8%.However,the problems of Africa's economy are gradually being exposed while the total economy of Africa is expanding rapidly.Since 2011,the decline of international commodity prices resulted in a sharp decline of Africa's total foreign trade and economic growth rate.In addition,some resource-rich African countries,such as Nigeria,Angola,Algeria,whose export is over-concentrated on resource products,have experienced more severe economic recession than other African countries.Africa's economic structure is highly imbalanced;its economic growth relies excessively on foreign trade.Africa's export is highly concentrated while the added value of Africa's export merchandise is too low.These problems have caused the African economy to be vulnerable facing external shocks.Recently,the choice of export concentration and diversification has been a hot issue.The relationship between Africa's foreign trade and its economic growth has been highly discussed.The relationship between resource and economic development remains a hot topic as well.After reading a lot of literatures and materials and summarizing the current situation and problems of Africa's economy and export,this paper analyzed the relationship between export concentration and economic growth of African countries by selecting cross-sectional data of two recessions of the Africa's economy after the year of 2000 and using statistical analysis and regression analysis.And the result showed a significant negative correlation between export concentration and economic growth of African countries during economic recession period.Finally,this paper will give some suggestions about the African economic development path and China-Africa economic cooperation.