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Economic growth in the early 2020s According to 2024 estimates by the African Development Bank Group, African countries are projected to account for more than half of the world fastest growing economies; in particular, Niger, Senegal, Libya and Rwanda are expected to grow at the fastest rate of over 7% per year. Estimates of Real Gross Domestic Product (GDP) growth rate in 2023 show that most ...
Advanced economies: 1.5 Emerging and Developing Asia: 5.2 Emerging and Developing Europe: 2.4 Emerging market and developing economies: 4.0 Euro area: 0.7 European Union: 0.7 Latin America and the Caribbean: 3.4 Major advanced economies (G7) 1.5 Middle East and Central Asia: 2.0 Other advanced economies: 1.8 Sub-Saharan Africa: 3.3 World 3.0
Countries in Africa are sorted according to data from the International Monetary Fund. [1] The figures presented here do not take into account differences in the cost of living in different countries, and the results can vary greatly from one year to another based on fluctuations in the exchange rates of the country's currency. [2]
In 2013, Africa was home to seven of the world's fastest-growing economies. [33] As of 2018, Nigeria is the biggest economy in Africa by nominal GDP, followed by South Africa; in terms of PPP, Egypt is second biggest after Nigeria. [34] Equatorial Guinea has Africa's highest GDP per capita.
This is a list of countries by real GDP per capita growth rate. These numbers take into account inflation and population growth rate but not purchasing power parity. [2] This list is not to be confused with gross national income per capita growth [3] or the real GDP growth.
[7] [8] Since China's transition to a socialist market economy through controlled privatisation and deregulation, [9] [10] the country has seen its ranking increase from ninth in 1978, to second in 2010; China's economic growth accelerated during this period and its share of global nominal GDP surged from 2% in 1980 to 18% in 2021.
Economic relations between China and Africa, one part of more general Africa–China relations, began in the 7th century and continue through the present day. Currently, China seeks resources for its growing consumption, and African countries seek funds to develop their infrastructure.
Note: Antarctica has no permanent population. However, if conventional GDP methodology is applied, which includes salaries of residents, as well as construction and equipment procurement (the biggest "industries" in Antarctica), the GDP of the continent would exceed one billion United States dollars.