244 Views
pH/DR: “This most awaited publication screens the economies of the 54 African countries and details the projections”
UNCTAD has released the fifth edition of its SDG Pulse report, a global benchmark for tracking progress towards achieving the Sustainable Development Goals (SDGs) by 2030. The SDG Pulse provides an annual analysis on how the world is managing the 2030 Agenda to achieve the Sustainable Development Goals (SDGs). It was June 27, 2023.
The data and analysis covers a wide range of SDG indicators and other relevant indicators for trade, investment, development finance, debt, transport and technology. This year, the “In-Focus” section of the report looks at the costs required to achieve the SDGs to identify where funding is most needed, and help better target efforts. An online version allows users to interact with statistics, tables and graphs.
Data shows that the COVID-19 pandemic, the war in Ukraine and climate crises are having a devastating effect on progress towards the SDGs. “We are already halfway to the 2030 Agenda, and multiple global crises are hitting our economies, our societies and the planet,” said Anu Peltola, who leads UNCTAD’s statistical work.
“It is more necessary than ever that policy makers have timely and reliable data and analysis to guide their decisions. » She adds.
Here are four key points to remember
1. Soaring debt levels are holding back progress on many goals
Almost one in three countries in the world face a high risk of fiscal crisis, with developing countries bearing the heaviest debt burden.
The total external debt of these countries was 15% higher in 2022 than in 2019 before the pandemic hit. Over the past decade, these countries’ outstanding external debt has more than doubled to an alarming $11.4 trillion.
Debt repayment costs are highest for low-income countries. In 2022, about 19.3% of their public revenue was used to repay their debts, four times more than in 2012.
Rising public debt is a significant obstacle to development and the achievement of the SDGs, as it undermines the ability of governments to invest in basic services such as health and education.
2. The fight against hunger is losing ground
Between 2017 and 2021, funding available per person to address the food crisis fell by 30%.
Despite the global calorie surplus, seven out of 10 economies import more food than they export. The Middle East and Africa is home to several net importing countries, many of which are classified as least developed countries (LDCs).
Cereals, which have been in the spotlight due to the war in Ukraine, play a crucial role in the world’s food supply, accounting for 45% of the calories available to the world’s population.
While agricultural export subsidies are now a thing of the past – they were worth almost zero in 2021 compared to $3 trillion to $4 trillion almost two decades ago – the same is not true for the policies that distort the market.
Some countries may be at a disadvantage in international trade and therefore risk aggravating food insecurity.
3. Climate resilience is under threat, vulnerable nations are at risk
In 2021, greenhouse gas emissions again reached record highs, with carbon dioxide concentrations reaching their highest level in 2 million years.
Despite the urgent need for a 45% reduction by 2030, emissions increased by 4.2% in 2021 and continue to climb. Additionally, high energy prices in 2022 have increased vulnerabilities; fuel prices peaked at nearly three times pre-pandemic levels in August 2022; and natural gas prices increased ninefold.
LDCs and Small Island Developing States (SIDS) face disproportionate risks of climate-related disasters, with a 40% increase in such events projected globally between 2015 and 2030 – according to the UN Office United Nations for Disaster Risk Reduction (UNDRR).
On a positive note, global electric car sales jumped 55% in 2022, reaching 10 million units sold.
There is an urgent need to redouble efforts to shift to models of low-carbon economies. New UNCTAD data sources on biotrade, maritime trade and plastics trade provide a new tool to assess progress.
4. Economic diversification remains a challenge for developing countries, digital technologies are promising
Many developing countries continue to struggle to diversify their economies.
In 2021, the 25 countries with the highest trade concentration index were all developing economies, indicating an overreliance on a handful of export commodities – mainly raw materials and basic products.
At the same time, manufactured exports accounted for only one-third of total LDC merchandise exports in 2021.
The good news is that the share of exports of high-tech products is increasing in Africa and LDCs.
Digital technologies offer many opportunities for economic diversification in an increasingly digital global economy. For example, digitally deliverable services now account for nearly two-thirds of all service exports globally.
