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The Economy of East Africa is characterized by diverse sectors, with agriculture playing a pivotal role, employing the majority of the population and contributing significantly to GDP. Key crops include coffee, tea, and horticultural products.
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]
West Africa, East Africa, Central Africa and Southern Africa in particular, are expected to reach a combined GDP of $29 trillion by 2050. [ 23 ] In March 2013, Africa was identified as the world's poorest inhabited continent; however, the World Bank expects that most African countries will reach "middle income" status (defined as at least US ...
This is a list of African countries by Gross Domestic Product (GDP) per capita based on purchasing power parity (PPP). GDP (PPP) per capita is given in international dollars. Note that the list excludes overseas departments Mayotte and Réunion (France), both west of Mauritius.
This is a list of the African nations ranked by Gross Domestic Product (GDP) at Purchasing Power Parity (PPP). Figures are given in international dollars according to the International Monetary Fund.
The Kenyan economy is the largest in East Africa. After independence, Kenya promoted rapid economic growth through public investment, encouraged smallholder agricultural production and provided incentives for private industrial investment. Kenya is East Africa's regional transportation and financial hub.
The East African Federation (Swahili: Shirikisho la Afrika Mashariki) is a proposed federal sovereign state consisting of the eight member states of East African Community in the African Great Lakes region – Burundi, the Democratic Republic of the Congo, Kenya, Rwanda, Somalia, South Sudan, Tanzania and Uganda. [6]
In East Africa, over 95% of cross-border trade is through unofficial channels and the unofficial trade of live cattle, camels, sheep and goats from Ethiopia sold to Somalia, Kenya and Djibouti generates an estimated total value of between US$250 and US$300 million annually (100 times more than the official figure). [86]