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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 ...
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]
The figures are from the International Monetary Fund (IMF) World Economic Outlook Database, unless otherwise specified. [ 1 ] This list is not to be confused with the list of countries by real GDP per capita growth , which is the percentage change of GDP per person recalculated according to the changing number of the population of the country.
If you want to see more of the fastest growing economies in Africa, go directly to the 5 Fastest Growing Economies in Africa. Africa’s economy started recovering in 2021 following the disastrous ...
In 2013, Africa was home to seven of the world's fastest-growing economies. [35] As of 2018, Nigeria is the biggest economy in Africa by nominal GDP, followed by South Africa; in terms of PPP, Egypt is second biggest after Nigeria. [36] Equatorial Guinea has Africa's highest GDP per capita.
For decades since China re-opened to the world in 1978, it was one of the fastest growing major economies on Earth. Between 1991 and 2011, it grew by 10.5% annually.
[7] [8] Since China's transition to a socialist market economy through controlled privatisation and deregulation, [9] [10] the country has seen its ranking increase from ninth in 1978, to second in 2010; China's economic growth accelerated during this period and its share of global nominal GDP surged from 2% in 1980 to 18% in 2021.
Country GDP per capita growth (annual %) Year Afghanistan-8.6: 2022 Albania 4.6: 2023 Algeria 2.5: 2023 American Samoa 3.5: 2022 Andorra 1.1: 2023 Angola-2.2: 2023 Antigua and Barbuda