The African Economic Outlook 2015 is the 14th edition of this annual report which results from a unique international collaboration. The African Development Bank, the OECD Development Centre and the United Nations Development Programme worked closely together to produce this report in its many forms. Over 100 researchers, economists and statisticians directly contributed their expertise. They drew data from national statistics offices, ministries, multilateral development institutions, investors, civil society and the media. CIRAD, the Agricultural Research Centre for International Development, helped draft this year’s thematic content on regional development and spatial inclusion.

Africa’s gross domestic product grew on average by 3.9% in 2014, compared to 3.3% globally, but with wide regional variations. Sub-Saharan Africa grew by 5.2% but by a percentage point higher when South Africa is excluded, indicating relatively robust growth despite global and regional headwinds, including depressed commodity prices and the Ebola epidemic. However, growth in North Africa remained sluggish at 1.7%, impacted by shrinkage of the Libyan economy by 20% as the conflict disrupted oil production. The sharp decline in commodity prices of the past few years will have mixed effects in the medium term, with oil-exporting countries registering weaker fiscal positions, while the lower cost of energy will boost consumer demand and competitiveness among net oil importers. Africa’s growth is forecast at 4.5% in 2015 and 5.0% in 2016, mainly owing to stronger growth among middle-income economies. Growth in sub-Saharan Africa is expected to average about 5% between 2015 and 2016.

The African Economic Outlook 2015 reports favourably on the continent’s financial, social and governance indicators, predicting continued broad-based progress. The report examines in depth the challenge of unlocking Africa’s regional development for greater spatial inclusion. It suggests policy options to ensure that no one is left behind because of where they live.

Africa’s gross domestic product (GDP) growth is expected to strengthen to 4.5% in 2015 and 5% in 2016 after subdued expansion in 2013 (3.5%) and 2014 (3.9%). The 2014 growth was about one percentage point lower than predicted in last year’s African Economic Outlook, as the global economy remained weaker and some African countries saw severe domestic problems of various natures. But the world economy is improving and if the AEO 2015 predictions are right, Africa will soon be closing in on the impressive growth levels seen before the 2008/09 global economic crisis.