Post by zuolun on Sept 20, 2015 7:54:26 GMT 7
The economy of Africa consists of the trade, industry, agriculture, and human resources of the continent. As of 2012, approximately 1.07 billion people were living in 54 different countries in Africa. Africa is a resource-rich continent but many African people are poor. Recent growth has been due to growth in sales in commodities, services, and manufacturing. Sub Saharan Africa, in particular, is expected to reach a GDP of $29 trillion by 2050 but its income inequality will be a major deterrent in wealth distribution. In March 2013, Africa was identified as the world's poorest inhabited continent; however, the World Bank expects that most African countries will reach "middle income" status (defined as at least US$1,000 per person a year) by 2025 if current growth rates continue. In 2013, Africa was the world’s fastest-growing continent at 5.6% a year, and GDP is expected to rise by an average of over 6% a year between 2013 and 2023. Growth has been present throughout the continent, with over one-third of Sub-Saharan African countries posting 6% or higher growth rates, and another 40% growing between 4% to 6% per year.
The economy of South Africa is the second largest in Africa, behind Nigeria, it accounts for 24% of its gross domestic product in terms of purchasing power parity, and is ranked as an upper-middle income economy by the World Bank; this makes the country one of only four countries in Africa in this category (the others being Botswana, Gabon and Mauritius). Since 1996, at the end of over twelve years of international sanctions, South Africa's Gross Domestic Product has almost tripled to $400 billion, and foreign exchange reserves have increased from $3 billion to nearly $50 billion; creating a diversified economy with a growing and sizable African middle class, within two decades of establishing democracy and ending apartheid. High levels of unemployment, income inequality, growing public debt, political mismanagement, low levels of education, reliable access to electricity, and crime are all serious problems that have negatively impacted the South African economy.
Indebted emerging world about to count cost of Fed rate rise ~ 16 Sep 2015
Chinese corporation helps to build critical railway in Kenya ~ 18 Sep 2015
Tazara rail project: China's first major project in Africa ~ 27 Jul 2015
Chinese rail techniques take root in Africa ~ 12 May 2015
Top 15 richest countries in Africa by GDP Per Capita ~ 21 Mar 2015
China in Africa: investment or exploitation? ~ 4 May 2014
South Africa since apartheid: Boom or bust? ~ 27 Nov 2013
US tapering and the fragile five (Brazil, India, Indonesia, Turkey and South Africa) — 25 Oct 2013
Why has China built a ghost town in Africa? ~ 4 Jul 2012
The economy of South Africa is the second largest in Africa, behind Nigeria, it accounts for 24% of its gross domestic product in terms of purchasing power parity, and is ranked as an upper-middle income economy by the World Bank; this makes the country one of only four countries in Africa in this category (the others being Botswana, Gabon and Mauritius). Since 1996, at the end of over twelve years of international sanctions, South Africa's Gross Domestic Product has almost tripled to $400 billion, and foreign exchange reserves have increased from $3 billion to nearly $50 billion; creating a diversified economy with a growing and sizable African middle class, within two decades of establishing democracy and ending apartheid. High levels of unemployment, income inequality, growing public debt, political mismanagement, low levels of education, reliable access to electricity, and crime are all serious problems that have negatively impacted the South African economy.
Indebted emerging world about to count cost of Fed rate rise ~ 16 Sep 2015
Chinese corporation helps to build critical railway in Kenya ~ 18 Sep 2015
Tazara rail project: China's first major project in Africa ~ 27 Jul 2015
Chinese rail techniques take root in Africa ~ 12 May 2015
Top 15 richest countries in Africa by GDP Per Capita ~ 21 Mar 2015
China in Africa: investment or exploitation? ~ 4 May 2014
South Africa since apartheid: Boom or bust? ~ 27 Nov 2013
US tapering and the fragile five (Brazil, India, Indonesia, Turkey and South Africa) — 25 Oct 2013
Why has China built a ghost town in Africa? ~ 4 Jul 2012
