African Economics

Study of economic trends, challenges and opportunities in Africa, including trade, investment, development, poverty, and wealth disparities.

How many people were living in Africa as of 2019?

"As of 2019, approximately 1.3 billion people were living in 54 countries in Africa."

Which regions of Africa are expected to reach a combined GDP of $29 trillion by 2050?

"West Africa, East Africa, Central Africa, and Southern Africa, in particular, are expected to reach a combined GDP of $29 trillion by 2050."

What is the current trend of Africa's GDP growth?

"GDP is expected to rise by an average of over 6% a year between 2013 and 2023."

What factors contributed to Africa's poor economy historically?

"Even though Africa had a number of empires trading with many parts of the world, many people lived in rural societies. In addition, European colonization and the later Cold War created political, economic, and social instability."

What growth rates were observed in Africa in 2013?

"Africa was the world's fastest-growing continent at 5.6% a year."

What is the projected growth rate of Africa's economy in 2018?

"Growth is expected to increase by 4.3% in 2018."

How many African countries have posted growth rates of 6% or higher?

"Over one-third of African countries have posted 6% or higher growth rates."

Which organization reported Africa to be the world's second-fastest growing economy in 2017?

"The African Development Bank reported Africa to be the world's second-fastest growing economy in 2017."

What is the predicted average growth rate for Africa in 2017?

"The African Development Bank estimates that average growth will rebound to 3.4% in 2017."

What is the expected timeframe for most African countries to reach "middle-income" status?

"The World Bank expects that most African countries will reach 'middle-income' status by 2025 if current growth rates continue."

What are the main sectors contributing to recent growth in Africa?

"Recent growth has been due to growth in sales, commodities, services, and manufacturing."

What are some of the reasons for Africa's economic instability?

"European colonization and the later Cold War created political, economic, and social instability."

Which continent has been named as the future economic growth engine of the world?

"Africa has been named as the future economic growth engine of the world."

How many countries are there in Africa?

"Africa consists of 54 countries."

What is the current poverty status of Africa?

"In March 2013, Africa was identified as the world's poorest inhabited continent."

What is the projected GDP growth rate for Africa between 2013 and 2023?

"GDP is expected to rise by an average of over 6% a year between 2013 and 2023."

Which regions of Africa are expected to contribute significantly to future GDP growth?

"West Africa, East Africa, Central Africa, and Southern Africa are expected to reach a combined GDP of $29 trillion by 2050."

What is the current growth rate of Africa's economy?

"Growth has been present throughout the continent, with over one-third of African countries posting 6% or higher growth rates, and another 40% growing between 4% and 6% per year."

What is the predicted average growth rate for Africa in 2018?

"Growth is expected to increase by 4.3% in 2018."

What is the timeframe for most African countries to reach "middle-income" status?

"The World Bank expects that most African countries will reach 'middle-income' status by 2025 if current growth rates continue."