Economies

The Facts:

  • Sub-Saharan Africa has averaged GDP growth between 5% and 6 % over the last two decade.
  • In 2014, 6 of the world’s 10 fastest growing economies were in Africa.
  • Improving macroeconomic performance by governments has strengthened growth trends.
  • Total Foreign Direct Investment (FDI) in Africa hit $50 billion in 2013, up from $10 billion at the start of the century. FDI increased 5% from 2012 to 2013, despite a global FDI decline of 12 percent. It is expected to reach $60 billion in 2014.
  • By 2030, much of Africa will have attained lower-middle- and middle-class majorities, with consumer spending projected to explode from $680 billion in 2008 to $2.2 trillion. A growing middle class indicates that investment trends are moving away from raw materials to technology, consumer products, and services.
  • Despite strong growth trends, poverty persists, and many African countries with the highest GDP also have the highest rates of poverty.

Charts

External Financial Flows to Africa

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Sources: 2013 African Economic Outlook, 2013 FDI Intelligence

Between 2002 and 2012, the value of African exports increased by 400%

Exports of goods and services (current US$)

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Despite strong growth, poverty rates remain largely unchanged, and unemployment, especially among youth, is stubbornly high

Growth and Proverty

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Growth and Poverty, West and Southern Africa

Average Annual GDP Growth (2002 – 2012)

% of Population Earning $1.25/day

Liberia

7.59%

83.76%

Madagascar

2.43%

81.29%

Mozambique

7.35%

59.58%

Congo, Rep.

4.57%

54.10%

Sierra Leone

8.67%

51.71%

Guinea-Bissau

1.51%

48.90%

Benin

3.80%

47.33%

Angola

11.08%

43.37%

Guinea

2.77%

43.34%

Gambia, The

3.11%

33.63%

Namibia

5.05%

31.91%

Senegal

3.83%

29.61%

Ghana

7.04%

28.59%

Togo

3.08%

28.22%

Cote d’Ivoire

1.43%

23.75%

 

Country specific GDP and population

Country GDP Population Year
Angola 161,857,161,225 USD 21,256,000 2013
Benin 18,488,949,383 USD 9,742,000 2013
Botswana 31,681,894,531 USD 2,096,000 2013
Burkina Faso 27,671,868,817 USD 17,323,000 2013
Burundi 7,831,427,641 USD 9,023,000 2013
Cameroon 60,331,384,340 USD 20,930,000 2013
Cape Verde 3,199,115,159 USD 511,000 2013
Central African Republic 2,786,447,825 USD 5,217,000 2013
Chad 26,686,142,692 USD 12,948,000 2013
Comoros 1,145,576,467 USD 743,000 2013
Congo (Brazzaville) 26,094,460,378 USD 4,492,689 2013
Congo (Democratic Republic) 50,416,181,301 USD 74,618,000 2013
Côte d’Ivoire 61,190,577,808 USD 23,919,000 2013
Djibouti 2,617,056,605 USD 23,919,000 2013
Equatorial Guinea 25,526,679,216 USD 1,837,000 2013
Eritrea 7,570,530,914 USD 4,980,000 2013
Ethiopia 127,392,920,415 USD 86,614,000 2013
Gabon 32,196,528,499 USD 2,204,000 2013
The Gambia 3,081,602,727 USD 1,794,000 2013
Ghana 102,957,702,965 USD 26,441,000 2013
Guinea 14,742,888,044 USD 11,861,000 2013
Guinea-Bissau 2,117,454,227 USD 1,699,000 2013
Kenya 100,447,797,152 USD 43,291,000 2013
Lesotho 5,363,842,092 USD 1,887,000 2013
Liberia 3,769,258,409 USD 3,881,000 2013
Madagascar 31,972,101,281 USD 21,852,000 2013
Malawi 12,759,725,388 USD 15,316,000 2013
Mali 25,116,634,822 USD 16,678,000 2013
Mauritania 11,834,938,575 USD 3,461,000 2013
Mauritius 22,296,349,818 USD 1,273,000 2013
Mozambique 27,006,124,693 USD 24,491,000 2013
Namibia 22,307,581,628 USD 2,170,000 2013
Niger 16,272,358,994 USD 17,493,000 2013
Nigeria 286..47 billion USD 177,096,000 2013
Réunion 23,501 USD 862,000 2013
Rwanda 17,096,570,167 USD 10,780,000 2013
Sao Tome and Principe 573,254,957 USD 194,000 2013
Senegal 32,062,415,717 USD 13,567,000 2013
Seychelles 2,156,974,407 USD 94,000 2013
Sierra Leone 11,736,507,129 USD 5,823,000 2013
Somalia 917 million USD 10.2 million ‎(2012) 1990
South Africa 350.779 billion USD 52.98 million 2013
Sudan 26,320,215,208 USD 35,150,000 2013
Swaziland 8,351,124,658 USD 1,077,000 2013
Tanzania 84,865,305,662 USD 45,950,000 2013
Togo 9,476,830,241 USD 6,675,000 2013
Uganda 52,987,300,780 USD 35,363,000 2013
Western Sahara 908.9 million USD 650,000 2013
Zambia 46,241,613,694 USD 14,129,000 2013
Zimbabwe 24,054,637,719 USD 13,098,000 2013

LINK TO EXTERNAL RESOURCE: http://data.worldbank.org/indicato r/NY.GDP.MKTP.PP.CD

http://en.wikipedia .org/wiki/List_of_African_countries_by_population