Africa’s Economic Overview

Africa- The Golden Gate

Africa is a continent of immense economic potential, with diverse resources, a growing population, and emerging markets. This page provides an in-depth look at the economic data and country profiles of Africa’s 54 countries, highlighting key facts, figures, and future business opportunities.

Africa is also known as the continent rich in natural resources, diverse cultures, and rapidly growing economies presenting significant business opportunities and potential for economic growth.


Economic Data Overview

Key Economic Indicators (2023)

  • GDP (Nominal): $2.6 trillion
  • GDP Growth Rate: 3.7%
  • Population: 1.4 billion
  • Inflation Rate: 8.1%
  • Unemployment Rate: 7.8%
  • Foreign Direct Investment (FDI): $46 billion

Sectoral Contribution to GDP (2023)

SectorPercentage (%)

Trade and Investment

Major Exports

  • Oil and gas
  • Minerals and metals
  • Agricultural products
  • Textiles and apparel

Major Imports

  • Machinery and equipment
  • Chemicals
  • Vehicles
  • Foodstuffs

Future Business Potentials

Key Growth Areas

  • Renewable Energy: Increasing investment in solar and wind energy projects.
  • Technology: Rapid growth in mobile and internet penetration.
  • Infrastructure: Significant projects in transportation and urban development.
  • Agriculture: Modernization and expansion of agricultural practices.
  • Healthcare: Investments in healthcare infrastructure and services.

Country Profiles

Below is a brief profile of all 54 African countries, including population, GDP, and key industries.

CountryPopulation (Millions)GDP (USD Billion)Key Industries
Algeria43.9172Oil and gas, mining, agriculture
Angola32.966Oil, diamonds, agriculture
Benin12.114Cotton, textiles, palm oil
Botswana2.418Diamonds, tourism, livestock
Burkina Faso20.917Cotton, gold, agriculture
Burundi11.53Coffee, tea, agriculture
Cabo Verde0.62Tourism, services, fisheries
Cameroon27.244Oil, agriculture, forestry
Central African Republic4.72Diamonds, timber, agriculture
Chad16.410Oil, agriculture, livestock
Comoros0.91Agriculture, fishing, tourism
Congo, Democratic Republic of the89.650Mining, agriculture, services
Congo, Republic of5.510Oil, timber, agriculture
Djibouti1.02Services, transport, logistics
Egypt102.3363Oil and gas, tourism, textiles
Equatorial Guinea1.411Oil, gas, forestry
Eritrea3.22Mining, agriculture, services
Eswatini1.25Sugar, textiles, manufacturing
Ethiopia114.996Agriculture, textiles, manufacturing
Gabon2.218Oil, manganese, timber
Gambia2.42Agriculture, tourism, fisheries
Ghana31.168Gold, cocoa, oil
Guinea13.113Bauxite, gold, agriculture
Guinea-Bissau2.01Cashews, agriculture, fishing
Ivory Coast26.461Cocoa, coffee, oil
Kenya54.999Agriculture, tourism, services
Lesotho2.12Textiles, water, agriculture
Liberia5.13Rubber, timber, mining
Libya6.937Oil, gas, petrochemicals
Madagascar27.714Agriculture, textiles, mining
Malawi19.610Agriculture, tobacco, tea
Mali20.319Gold, agriculture, livestock
Mauritania4.58Iron ore, fisheries, livestock
Mauritius1.314Tourism, textiles, financial services
Morocco36.9133Phosphates, textiles, tourism
Mozambique31.315Aluminum, agriculture, energy
Namibia2.511Mining, tourism, agriculture
Niger24.213Uranium, livestock, agriculture
Nigeria206.1448Oil, agriculture, telecommunications
Rwanda12.610Agriculture, tourism, services
Sao Tome and Principe0.20.5Cocoa, tourism, fishing
Senegal16.724Agriculture, mining, services
Seychelles0.12Tourism, fishing, agriculture
Sierra Leone7.94Diamonds, agriculture, fishing
Somalia15.95Livestock, agriculture, telecommunications
South Africa59.3282Mining, manufacturing, services
South Sudan11.24Oil, agriculture, forestry
Sudan43.830Agriculture, oil, gold
Tanzania59.767Agriculture, mining, tourism
Togo8.36Phosphates, cotton, agriculture
Tunisia11.843Agriculture, tourism, manufacturing
Uganda45.738Agriculture, manufacturing, services
Zambia18.423Copper, agriculture, tourism
Zimbabwe14.920Mining, agriculture, manufacturing

Data Sources and References

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