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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]
The journal publishes economic analyses, focused entirely on Africa. Each issue contains applied research together with a comprehensive book review section and a listing of current working papers from around the world. According to the Journal Citation Report, the journal's impact factor was 1.196 in 2020.
The Real Economy of Zaire: The Contribution of Smuggling and Other Unofficial Activities to National Wealth. London: James Currey. p. 175. Seema Shekhawat (January 2009). Governance Crisis and Conflict in the Democratic Republic of Congo (PDF) (Report). Working Paper No. 6. Mumbai: Centre for African Studies, University of Mumbai.
The 1st edition, initiated in 1972 and published in 1976, has one volume entitled Yearbook of World Problems and Human Potential, comprising thirteen sections, several of which have not appeared in subsequent editions. [11] [18] The 2nd edition, initiated in 1983 and published in 1986, was titled Encyclopedia of World Problems and Human Potential.
There are many examples of structural adjustments failing. In Africa, instead of making economies grow fast, structural adjustment actually had a contractive impact in most countries. Economic growth in African countries in the 1980s and 1990s fell below the rates of previous decades. Agriculture suffered as state support was radically withdrawn.
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. East Africa is the fastest growing region in Africa. [4]
PPP largely removes the exchange rate problem, but has its own drawbacks; it does not reflect the value of economic output in international trade, and it also requires more estimation than nominal GDP. [4] On the whole, PPP per capita figures are more narrowly spread than nominal GDP per capita figures. [5]
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.