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The economy of Africa consists of the trade, industry, agriculture, and human resources of the continent. As of 2019, approximately 1.3 billion people [11] were living in 53 countries in Africa. Africa is a resource-rich continent. [12] [13] Recent growth has been due to growth in sales, commodities, services, and manufacturing. [14]
Oct 5, 2023 · According to the region’s most recent economic update, growth in Sub-Saharan Africa is projected to slow to 2.5% in 2023, from 3.6% in 2022. Rising conflict and violence across the region exerts a dampening effect on economic activity, with climate shocks poised to exacerbate this fragility.
Map of Africa by 2020 nominal GDP (billions USD): >200. 100–200. 50–100. 20–50. 10–20. 5–10. 1–5. <1. The 2023 estimates are as follows: [5] GDP (Nominal) of Africa 2023. Ivory Coast (6.5%) Angola (6.1%) South Africa (4.9%) Kenya (4.2%) Ethiopia (6.2%) Morocco (3.5%) Kenya (4.2%) Angola (6.1%) Tanzania (5.6%)
The African Economic Outlook 2023 is being published as African countries are dealing with multiple shocks, including the effects of the COVID-19 pandemic, disruptions to global supply chains due to Russia’s prolonged invasion of Ukraine and a tightening of global financing conditions.
With the exception of South Africa and the countries of North Africa, all of which have diversified production systems, the economy of most of Africa can be characterized as underdeveloped. Africa as a whole has abundant natural resources, but much of its economy has remained predominantly agricultural, and subsistence farming still engages ...
Label. 1960 - 2022. Selected Countries and Economies. Country. Most Recent Year. Most Recent Value. Africa. Country. Most Recent Year. Most Recent Value. (Thousands) All Countries and Economies. Country. Most Recent Year. Most Recent Value. (Millions) GDP (current US$) - Africa from The World Bank: Data.
Dec 15, 2020 · 15 December, 2020. Download Full Publication. FRONT MATTER. ERA Spark Page. Africa today, in the wake of COVID-19, is facing an unprecedented threat to its hard-earned growth over the last decade.
