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What is the economy of Africa?
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What is South Africa's GDP?
The economy of Africa consists of the trade, industry, agriculture, and human resources of the continent. As of 2019, approximately 1.3 billion people were living in 53 countries in Africa. Africa is a resource-rich continent. Recent growth has been due to growth in sales, commodities, services, and manufacturing.
Mar 5, 2024 · At first place, South Africa is Africa’s biggest economy in nominal terms, with an estimated GDP of nearly $400 billion. The country’s mining industry is a major contributor to the economy, accounting for nearly 60% of total exports in the first half of 2023.
- Marcus Lu
Gross domestic product (GDP) is the market value of all final goods and services from a nation in a given year. Countries in Africa are sorted according to data from the International Monetary Fund. [1] .
RankCountryNominal Gdp (billion Us$) [1]Per Capita (us$) [1]1373.2335,974.9122347.5943,224.8683266.7805,721.6784252.7381,109.899Oct 5, 2023 · According to the region’s most recent economic update, growth in Sub-Saharan Africa is projected to slow to 2.5% in 2023, from 3.6% in 2022. Rising conflict and violence across the region exerts a dampening effect on economic activity, with climate shocks poised to exacerbate this fragility.
Sep 22, 2023 · Sep 22, 2023. Nigeria's GDP amounted to nearly 477.4 billion U.S. dollars in 2022, the highest in Africa. To follow, South Africa's GDP was worth 405.7 billion U.S. dollars and ranked as...
Africa as a whole has abundant natural resources, but much of its economy has remained predominantly agricultural, and subsistence farming still engages more than 60 percent of the population.
GDP (current US$) - Africa. World Bank national accounts data, and OECD National Accounts data files. License : CC BY-4.0. Line Bar Map. Also Show. Details. Label. 1960 - 2022.
