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African Economic Outlook was an annual reference book-journal which focused on the economics of most African countries. It reviewed the recent economic situation and predicted the short-term interrelated economic, social, and political evolution of all African economies.
The economy of Africa consists of the trade, industry, agriculture, and human resources of the continent. As of 2019, approximately 1.3 billion people [19] were living in 53 countries in Africa. Africa is a resource-rich continent. [20] [21] Recent growth has been due to growth in sales, commodities, services, and manufacturing. [22]
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 ]
These figures have been taken from the International Monetary Fund's World Economic Outlook (WEO) Database, October 2024 Edition. [1] The figures are given or expressed in Millions of International Dollars at current prices.
In the African Development Bank's (AfDB) 2022 Annual Report, a decrease in Africa's GDP growth to 3.8%, down from 4.8% the previous year, was recorded. The 16th replenishment of the African Development Fund (ADF-16), which provides soft loans and grants, served as a significant financial enhancement, gathering US$8.9 billion.
The economy of the Central African Republic is $2.321 billion by gross domestic product as of 2019, even lower than much smaller countries such as Barbados [12] [13] with an estimated annual per capita income of just $529 as measured nominally in 2024.
[32] [33] In 2021, agriculture made up 37.5% of the country's economic output, while services 36.25% and industry made up 21.85% of the economy. [34] Ethiopia's economy is ranked 159th place out of 190 countries in 'Ease of doing business'. [35]
The economy of Botswana is currently one of the world's fastest growing economies, [19] averaging about 5% per annum over the past decade. [19] Growth in private sector employment averaged about 10% per annum during the first 30 years of the country's independence.
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