In its third quarter in 2017, Senegal’s economy grew at a rate of 7.1 percent, its strongest since the last quarter of 2015, when it was at an all-time high. Despite its slow growth of 4.4% in 2019, owing to commodity prices, DRC still maintains to be top 15 of the top African economies. Brazil. However from 1992 up to now, the country has managed to hold peaceful elections and their economy has made a strong rebound.The discovery of major offshore oil deposits helped the recuperation of the economy. The economy in the country is projected to see a 6 percent growth in 2018. These countries/regions could appear in this list as having a small GDP. Countries in Africa are sorted according to data from the International Monetary Fund. Cote d’Ivoire - nominal GDP per capita US$ 1,722.26 Total domestic revenue was 3 percent short of its 2017 target of 3.4 trillion, increasing only slightly to 12.3 percent of gross domestic product (GDP) from 11.9 percent of GDP in 2016. South Africa is an influential African country and economic facts show that it is the second-largest African economy –precisely in terms of GDP. The fallout from Brexit will affect African economies in 2019. 1. Niger’s economic growth, estimated at 5.2 percent in 2017, was driven largely by the secondary sector, particularly oil. In the 1980s, the country was mired in poverty. Previously, it was Africa’s largest economy until Nigeria displaced it after the … Ghana is a tale of remarkable fortunes. According to relevant datacourtesy of the Trading Economics, In the first quarter of 2018, Niger has managed to increase its gross domestic product (GDP… The good news is that in 2019, like in 2018, Sub Saharan Africa will be home to several of the world’s fastest-growing economies, according to the IMF. According to this year’s list, Mauritius is the best African country to do business in 2019 and the 39th best in the world. Offended by one-sided coverage of wars, disasters and disease, the founders of Africa.com created a website that provides a balanced view of Africa – current events, business, arts & culture, travel, fashion, sports, information, development, and more. Small and landlocked, Rwanda has a population of about 11.9 million people (2016). WATCH: Backstage with… Minister Ngozi Okonjo-Iweala (part 1), Tony Elumelu Guest Curates This Week’s Top10 Business News, Daniel Monehin Guest Curates Business News, Refresh Your Waste Products into Something Beautiful, Study: Africa’s Biggest “Digital Divide” Lies In Its Rural Areas, Property and Lifestyle in Blouberg Cape Town, 5 Top Opportunities for Investment in Djibouti, The Road To Achieving Internet Access For All In Africa. ALSO READ: Moody's says Nigeria and South Africa's economies will recover slowly in 2019 but there's a glitch. They are closely followed by South Africa, second in Africa and 59th best in the world. This would be because the country/region listed has a small population, and therefore small total economy; the GDP is calculated as the population times market value of the goods and services produced per person in the country.. East Africa remains the continent’s growth hotspot, with regional output seen expanding by 6% in 2020. The economic outlook for Sub-Saharan Africa (SSA) is positive, with growth rising to 5.3% in 2012, and 5.6% in 2013, over the pre-crisis average level of 5%. Sierra Leone’s economic growth slowed to 4.3 percent in 2017 from 6.3 percent in 2016. This year, Ghana is the world’s fastest growing … In fact, Nigeria is Africa’s largest crude oil supplier. The project is estimated to cost a total of $16 billion and aims to be completed by 2021. If you are interested in telling stories in an impactful way to shine a spotlight on a particular issue, please email us. Ethiopia and Rwanda round up the top three with 8.5% and 7.8% respectively with Tanzania, Uganda and Kenya being the other East African economies in the top 10. Tanzania GDP growth rate - 7.1%. After a difficult 2016, Ghana saw an improved performance in 2017. Comparisons of national wealth are also frequently made on the basis of purchasing power parity (PPP), to adjust for differences in the cost of living in different countries. Although the real gross domestic product (GDP) growth rate slowed in 2017, in 2018 economic growth is expected to hover around 6.8 percent. Unlike many global publications, for nearly a decade we have been committed to showing a complete picture of Africa – not just a single story. We look forward to hearing from you. The West African country remains among the fastest on the African continent. It shows that in 2019, democracy declined globally, on the African continent and more particularly in sub-Saharan Africa.  Such fluctuations may change a country's ranking from one year to the next, even though they often make little or no difference to the standard of living of its population. The country’s annual growth estimates hovered around 8 percent in 2017. The country is blessed with abundant natural resources especially crude oil, which accounts for over 70 percent of its earnings. Analysts expect overall growth to be as high as 6.8 percent in 2017 and the World Bank has predicted a growth of 6.9 percent for 2018. Ethiopia is one of the most influential African countries particularly in … In 2015, the service sector contributed most the country’s GDP at 54.6%, the industry contributed 25.7%, and agriculture contributed 17.8%. Source: IMF, Renaissance Capital . The performance of some of Africa's largest economies in 2018 does not inspire confidence for the year ahead. Ethiopia’s economy is boosted by a number of large-scale infrastructure projects, including the Grand Renaissance Dam and a railway network. Best Economy Class in China 2019. The economy of Niger, a landlocked sub-Saharan nation, is upheld by uranium exports and foreign financial assistance. Excluding South Africa, the continent’s largest economy, growth in Sub-Saharan Africa is forecast to rise to 6%. Best Economy Class in Asia 2019. , The 2020 estimates are as follows:, List of African countries by Human Development Index, "A Beginner's Guide to Purchasing Power Parity Theory", "Economic Growth and Real Exchange Rate: An Overview of the Balassa-Samuelson Hypothesis in Asia", "What is GDP and why is it so important?
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