Economic Integration And Economic Growth In Economic Community Of West African States (Ecowas)
AMAEWHULE Kenneth Chinonye
Institute of International Trade and Development University of Port Harcourt, Nigeria
EZEOMA Kelechi I.
Institute of International Trade and Development University of Port Harcourt, Nigeria
Keywords: Exports, Imports, Real GDP, Economic Integration, Economic Growth
Abstract
The study focused on economic integration and economic growth in Economic Community of West African States (ECOWAS). The specific objectives of the study were to examine the impact of exports and imports trade on economic growth in ECOWAS. Data on GDP, exports trade, and imports trade from International Monetary Fund Direction of Trade Statistics of 2021 for the period 2000-2021. The data was analyzed using descriptive statistic and generalized method of moment (GMM) techniques. The findings revealed that a percentage increase in exports trade will bring about an increase in gross domestic product (GDP) in ECOWAS nations. Also, the results showed that a percentage increase in imports trade will decrease economic growth in ECOWAS nations. Based on the empirical findings, it was recommended amongst others that ECOWAS countries should try to improve in exports of manufactured or finished products and import less of manufactured products. Again, they should try diversifying their economy in other to be able to compete favourably with other advanced economy nations.