Multiple crises, including the COVID-19 pandemic and the current geopolitical and global macroeconomic situation have resulted in poor economic progress and exacerbated the structural challenges of African Landlocked Least Developed Countries (LLDCs). Thirteen are still categorized as least developed countries and no landlocked developing country in Africa has graduated from least developed country status in the past decade. On the trade front, African LLDCs had low trade in services between 2014 and 2022. They accounted for only 0.2 percent of global services exports and 0.4 of global service imports while the trade balance between African LLDCS remained negative within the same period. These include Investing in people in least developed countries, leveraging the power of science, technology, and innovation and supporting structural transformation as a driver of prosperity.

Source: News Business Ethiopia March 02, 2024 16:22 UTC