News Column

'Growth needed to boost jobs'

February 5, 2014

South Africa needed to grow its export base to boost economic growth and job creation, a World Bank official said yesterday. "Increasing exports, particularly in manufacturing, may be crucial for low-skilled job creation needed to substantially reduce high overall and youth unemployment," according to Asad Alam , the World Bank director in South Africa . He was speaking at the release of a World Bank report titled "The Economic Update on South Africa : Focus on Export Competitiveness". It examined the performance of some 20 000 South African export companies over a 12-year period from 2001. The study compared the companies to their emerging market peers, and discussed ways to help South Africa improve its export potential. It found that South Africa's total exports grew by only 0.6 percent a year since 2005 |at a time when its Brics partners - Brazil , Russia , India and China - were making immense gains into global markets. - Sapa Daily News


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Source: Daily News (South Africa)


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