Trying to get to grips with what to expect from Africa’s economies in 2019 can be broken out into three categories of discussion: the good, the underwhelming and the disconcerting.
The good news is that in 2019, like in 2018, Sub Saharan Africa will be home to several of the world’s fastest-growing economies, according to the IMF.
Nigeria
Nigeria comes in at number one with a GDP of $1.121 trillion. Manufacturing, financial, service, communications, technology, entertainment, agriculture and oil sectors all contribute to the country’s economy. Nigeria is expected to see an expansion of 2.3%—better, but not much, than the 1.9% of 2018.
Egypt
GDP – $1.13 trillion. Sectors like tourism, gas, telecom and construction play major roles in Egypt’s economy. The World Bank (WB) predicts that the country’s economy will increase by 5.7% in 2019.
South Africa
GDP – $765.5 billion. Tourism is a major revenue generating industry. South Africa will expand by 1.4% which is, again, an improvement on 0.8% last year, but nothing to cheer about.
Algeria
GDP -$630.5 billion. The non-hydrocarbon sector (petroleum and natural gas) is the major contributor to the country’s economy.
Ethiopia
GDP -$199.3 billion. The services and agriculture sectors contribute heavily to the country’s economy.
Angola
GDP – $197.9 billion. The country’s economy relies heavily on the oil sector in addition to the manufacturing, agricultural, transport and fisheries sectors. Still, Focus Economics, a major provider of economic analysis and forecasts for 130 countries, predicts a 1.3% increase in 2019.
Kenya
Last on the list is Kenya with a GDP of $163.3 billion. Major industries include financial, agriculture, tourism, mining and minerals.
source https://www.naijanews.com/2019/02/19/see-the-7-biggest-economies-in-africa-right-now/
0 Comments