Diversification

The process of structural transformation – reallocation of production factors from low-productivity, labour-intensive, and polluting activities to higher-productivity, skill-intensive, and sustainable ones -—
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– is central to enhancing productivity and incomes to mitigate vulnerability to market shocks. With no sign of further industrialization in Africa and LDCs and stalled progress in manufacturing in most vulnerable economies, coupled with challenges in their digitalization, the role of digital technologies becomes even more important in diversifying economies and building resilient systems that are open, inclusive, and secure and benefit everyone. “Transforming the economies through diversification” is a critical element for inclusive prosperity -—
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The two sections of this chapter discuss these issues drawing on SDG indicators and other official statistics:

  1. Structural transformation to mitigate persistent technology gap
  2. Digital technologies are key to economic diversification
The shifting international landscape underscores the urgency of rethinking policies for economic diversification, with a renewed focus on intersectoral linkages and regional integration.Read more on this in UNCTAD SG’s report ahead of 16th session of the Conference.

LDCs not on track to meet their SDG 9.2 target by 2030 in manufacturing value added and employment.

In 2024, the price of a mobile broadband subscription was equivalent to 5% of per capita GNI in LDCs.

References

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