Underpinned by the performance of oil-exporting
countries, continued fiscal spending on infrastructure
projects and greater Africa–Asia investment and trade
linkages, Africa recorded the fastest growth among
all regions (5.4 per cent). Meanwhile, developing
countries in America recorded slower growth (3.0 per
cent) compared to the two preceding years as the
stagnation in the advanced economies and the
slowdown in China affected exports from the region,
especially in South America. Some countries such as
Brazil and Argentina have, in addition, faced domestic
problems that undermine growth (United Nations
Department of Economic and Social Affairs, 2013a).