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At the bottom of the list, South Africa had a growth rate of 0.1% while Equatorial Guinea’s economy had receded with a rate of -1.8%. World Bank estimates for 2022 presented a different picture, with Niger leading economic growth at 11.5%, South Sudan receding at a rate of -10.8% and the continent as a whole seeing an average of 4.2% growth. [3]
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 ]
After an initial rebound from the 2009 world economic crisis, Africa's economy was undermined in the year 2011 by the Arab uprisings. The continent's growth fell back from 5% in 2010 to 3.4% in 2011. With the recovery of North African economies and sustained improvement in other regions, growth across the continent is expected to accelerate to ...
The impact of global warming is costing African nations up to 5% of their economic output, the United Nations climate chief said on Thursday, calling for more investments to help adapt to climate ...
Egypt's government debt-to-GDP ratio reached an all-time high of 103% of GDP in 2017, and a record low of 73.3% of GDP in 2009. [ 6 ] [ 7 ] Egypt's debt service from debt installments and interest amounted to about US$42.3 billion during 2024, its highest bill ever required to be paid in a single year, after external debt jumped to about US$165 ...
[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.
[29] [30] It is ranked as the 53rd-largest economy in the world in terms of nominal GDP, the fourth largest in Africa and the 27th-largest in terms of purchasing power parity. The country's re-emergent manufacturing sector became the largest on the continent in 2013, and it produces a large proportion of goods and services for the region of ...
The region has also seen rapid growth in tourism with Tanzania and Kenya pioneering tourism due to safari parks. Nairobi and Addis Ababa are the main financial hubs in East Africa. [5] Ethiopia and Kenya account for 55% of East Africa's GDP. East Africa accounts for 18% of Africa's GDP.