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The economy of Africa consists of the trade, industry, agriculture, and human resources of the continent. As of 2019, approximately 1.3 billion people [11] were living in 53 countries in Africa. Africa is a resource-rich continent. [12][13] Recent growth has been due to growth in sales, commodities, services, and manufacturing. [14]
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]
Economic history of Africa. Ancient Egyptian units of measurement also served as units of currency. The earliest humans were hunter gatherers who were living in small, family groupings. Even then there was considerable trade that could cover long distances. Archaeologists have found that evidence of trade in luxury items like precious metals ...
List. The table below presents the latest Human Development Index (HDI) for countries in Africa as included in the United Nations Development Programme's Human Development Report, released on 13 March 2024 and based on data collected in 2024. [1] As of 2024, All African UN member states are included in the report.
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 ...
The United Nations Economic Commission for Africa (UNECA or ECA; French: Commission économique pour l'Afrique, [1] CEA) was established in 1958 by the United Nations Economic and Social Council to encourage economic cooperation among its member states (the nations of the African continent) [2] following a recommendation of the United Nations General Assembly. [3]
African Development Bank. The African Development Bank Group (AfDB, also known as BAD in French) is a multilateral development finance institution, headquartered in Abidjan, Ivory Coast since September 2014. [1][2] The AfDB is a financial provider to African governments and private companies investing in the regional member countries (RMC).
The economy of Kenya is market-based with a few state enterprises. Kenya has an emerging market and is an averagely industrialised nation ahead of its East African peers. Currently a lower middle income nation, Kenya plans to be a newly industrialised nation by 2030. The major industries driving the Kenyan economy include financial services ...