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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 ]
China and India are increasingly important trade partners; 12.5% of Africa's exports are to China, and 4% are to India, which accounts for 5% of China's imports and 8% of India's. The Group of Five (Indonesia, Malaysia, Saudi Arabia, Thailand, and the United Arab Emirates) are another increasingly important market for Africa's exports. [74]
The first agriculture in Africa began around the Sahel and the south of the Sahara Desert, which in 5200 BC was far more moist and densely populated than today.Several native species were domesticated, most importantly pearl millet, sorghum and cowpeas, which spread through West Africa and the Sahel.
The government then initiated investments in infrastructure. By 2005, the Kenyan public debt had reduced from highs of 80% of GDP in 2002 to 27% of GDP in 2005. The financial sector greatly improved, and Equity Bank Kenya became one of the largest banks in East Africa. Economic growth improved from 2% in 2003 to 7% in 2007. [50]
Important constraints to economic development include the CAR's landlocked position, a poor transportation system, a largely unskilled work force, and a legacy of misdirected macroeconomic policies. [14] The 50% devaluation of the currencies of 14 Francophone African nations on 12 January 1994 had mixed effects on the CAR's economy. [14]
The trade networks facilitated the exchange of a wide range of goods and resources, each with significant economic implications. Gold was perhaps the most important commodity traded, particularly from West Africa. It was highly prized in the Mediterranean and beyond, driving much of the economic activity along the trans-Saharan routes. The ...
Morocco has a lower rate than its Maghreb neighbours—Tunisia has a rate of around 13.9%, and in Algeria it is around 12.3%—but the issue is still a pressing one, both for economic and for social reasons. A 2006 government report suggested that the country needed a net increase of 400,000 jobs annually for the next two decades in order to ...
One of the fastest growing areas of economic development in Namibia is the growth of wildlife conservancies. These conservancies are particularly important to the rural generally unemployed population. [32] Agriculture is increasingly under pressure, due to factors such as frequent and prolonged droughts as well as woody plant encroachment ...