The Organisation for Co-operation and Economic Development (OECD) has compiled tax revenue data for countries around the world—including 30 African countries, where tax revenue as a percent of GDP is on average lower than in other regions. Find out what the Bank Group's branches are doing in Africa. In 2019, the Travel & Tourism sector contributed 10.4% to global GDP; a share which decreased to 5.5% in 2020 due to ongoing restrictions to mobility. Energy access remains a challenge in Africa where one in three people are still without access to electricity. Improved access to sustainable energy, including in rural areas, is a key aim of partnership with AFD, Islamic Development Bank (ISDB), Arab Coordination Group, JICA, AfDB, EIB, and the China National Energy Administration Energy. We found our data from the International Monetary Fund (IMF) for 2020. Equatorial Guinea is one of the African countries with small land areas and meagre population estimates. For a few countries where the official exchange rate does not reflect the rate effectively applied to actual foreign exchange transactions, an alternative conversion factor is used. If you continue to navigate this website beyond this page, cookies will be placed on your browser. The current Regional Integration portfolio amounts to more than $14.1 billion, with more than 80 projects in implementation. Between 1960 and 2020, the population of West Africa will have increased fivefold, even with the most optimistic assumptions of increased contraceptive use. With a projected gdp growth rate of 43.38% in 2020, Guyana is the fastest growing economy in the world.Guyana is followed by Ethiopia (6.1%), Guinea (5.2%), and Tajikistan (4.5%). Virtually all countries around the world measure and report their GDP on a regular basis. This allows us to compare the economic strength of countries around the world. The world’s top 10 economies by GDP (1 to 10) are the United States, China, Japan, Germany, United Kingdom, France, India, Italy, Brazil, and Canada. World Bank national accounts data, and OECD National Accounts data files. Growth in Western and Central Africa contracted by 1.1% in 2020, less than projected in October 2020 partly due to a less severe contraction in Nigeria, the subregion’s largest economy, in the second half of the year. Found insideThe Future of Work in Africa focuses on the key themes of creating productive jobs and addressing the needs of those left behind. Home World India. An interesting fact about Africa, in one of the countries in Africa we have the world 5 th richest man, richest woman in the world, best players just to mention in few. To learn more about cookies, click here. Ethiopia is one of the most influential African countries particularly in … … 1961 - 2020. Of the remaining BRICS countries, Brazil finished at No. This is the United Nations definitive report on the state of the world economy, providing global and regional economic outlook for 2020 and 2021. It added that the projected rates of economic growth would be insufficient for 40 countries to return to pre-COVID-19 levels of GDP per capita even by 2026. World Bank national accounts data, and OECD National Accounts data files. Nigeria: Nigeria is currently the most highly populated country in Africa, with a population of more … Sub-Saharan Africa gdp … Every year this report will focus on one strategic theme. This first edition explores the dynamics of growth, jobs, and inequalities. Gross Domestic Product, or GDP, measures the economic size of a country. This paper aims at estimating the economic vulnerability of developing countries to disruptions in global value chains (GVCs) due to the COVID-19 pandemic. The study is published jointly by the United Nations Office of the Special Adviser on Africa (UN-OSAA) and the NEPAD-OECD Africa Investment Initiative. Growth is projected to rebound to 1.4% in Nigeria, 3% in South Africa, and 0.9% in Angola. With the world’s largest free trade area and a 1.2 billion-person market, the continent is creating an entirely new development path, harnessing the potential of its resources and people. The objective in this paper is to estimate the economic costs of COVID-19 policies and external shocks in a developing country context, with a focus on agri-food system impacts. Wealth can be measured in many ways, but one of the most commonly used techniques to accomplish this complex measurement is to use GDP (PPP) per capita. In Zambia, the Girls Education and Women Empowerment and Livelihood project (GEWEL) has so far provided more than 28,000 girls from poor households with secondary school bursaries and 75,000 poor women with livelihood packages, including, life and business skills training, mentorship, and support through savings groups. Together with governments, regional institutions, and development partners, the World Bank has expanded multi-sectoral programs with immediate and long-term solutions that invest in women and girls. Equatorial Guinea. It supports initiatives in favor of climate change adaptation and mitigation and deploys an approach to address the drivers of Fragility, Conflict and Violence. In Malawi, the Digital Foundations Project complements government efforts on digital transformation by supporting improvements to the legal/regulatory framework and building institutional and human capacity; promoting affordable, high quality internet access for all; and building the government’s ability to deliver services to citizens and conduct business digitally. The Bank has 15 active and 29 pipeline investment operations in Africa that contribute to the activation of the DE4A initiative that include a broadband infrastructure component totaling over $5.5 billion investment. These operations are focusing on supporting governments to mitigate the effects of the COVID-19 pandemic, and at the same time promoting reforms that will create the conditions for economic recovery. Scientific Study from the year 2020 in the subject Sociology - Miscellaneous, grade: "-", , language: English, abstract: This study contributes to the empirical literature by investigating the mediation effects of household consumption ... This page displays a table with actual values, consensus figures, forecasts, statistics and historical data charts for - Country List Government Debt to GDP. 2.5 African students have lower average test scores than students in other world regions relative to their GDP per capita, 2017 61 2.6 Harmonized test scores for African countries range widely, 2017 62 2.7 When adjusted by tests scores, average years of schooling drop in all African countries examined, 2017 63 Scientific Study from the year 2020 in the subject Business economics - Investment and Finance, language: English, abstract: The paper investigates what may be the impact of the predicted fall of FDI on GDP in SSA. Algeria ($178 Billion) Currency – Algerian Dinar. Africa also has 13 small states, characterized by a small population, limited human capital, and a confined land area. But the protocol that allowed the island nation to escape the worst of the pandemic entailed a very high cost for the economy. The region is composed of low, lower-middle, upper-middle, and high-income countries, 20 of which are fragile or conflict-affected. Browse by Country or Indicator. Country. In this scenario, Africa’s average GDP growth in 2020 … It can raise incomes, improve food security and benefit the environment. 9, Russia ranked No. Economic growth in Sub-Saharan Africa is estimated to have contracted by 2.0% in 2020, closer to the lower bound of the forecast in April 2020. GDP per capita (current US$) - Sub-Saharan Africa. However, countries in the region are continuing to weather the storm. Selected Countries and Economies. Recent growth has been due to growth in sales in commodities, services, and manufacturing. List of continents by gdp. Glo… Most Recent Year. United StatesGDP – Nominal: $20.81 trillion. GDP per Capita: $63,051. GDP – Purchasing Power Parity (PPP): $20.81 trillion. A number… The Central African country is the third largest oil producer in Africa. Finally, below are the top 20 richest African countries in terms of GDP per capita. Algeria- GDP: $219.453 billion. The World Bank is supporting Africa’s vision to achieve universal and affordable access to information and communications technology for every African individual, business, and government by 2030, with an interim goal to double broadband connectivity in each country by 2021. Finally, the World Bank is scaling up its work on regional integration, taking a holistic view of the continent to improve connectivity, leverage economies of scale, and advance collective action to address shared challenges. Line Bar Map. Line Bar Map. Found inside – Page 10Food and Agriculture Organization of the United Nations , African Union Commission. Remittances as a share of GDP in Africa in 2019 11 Source: World ... In terms of … Data and research help us understand these challenges and set priorities, share knowledge of what works, and measure progress. The year-on-year change in GDP was -2.7%, 15 -tenths of one percent more than the -4.2% recorded in the forth quarter of 2020. 15.2. Gross domestic product (nominal) at peak level as of every 5 years from 2015 to 2060 (in current US$ millions) Country (or territory) 2015 2020 2025 2030 2035 2040 2045 2050 2055 2060 Afghanistan: 20,635: 20,635: 23,896: 30,540: 38,642: 48,410: 59,683: 72,848: 88,028: 105,368 Albania: 13,246: 15,276: 22,422: 26,912: 31,981: 37,628: 43,569: 49,944: 56,679: 63,715 Algeria: 213,810: 213,810: 213,810 - World Economics A debt-to-GDP ratio of 60% is the IMF and African Monetary Co-operation Program’s threshold for prudent debt levels. This paper examines past African growth experience and attempts to simulate future ones. Accelerating the high-tech and digital economy. As a result, the economy contracted a marginal 0.3% in 2020 as a whole (2019: +5.0%), logging the first contraction in nearly three decades. Gross National Income – … The WBG, along with the EU and AFDB, is assisting Horn of Africa countries to develop a regional strategy focused on deepening collaboration on infrastructure, trade and economic integration, and resilience and human capital. Real GDP among African countries dependent on tourism will shrink by 12 percent. €74,802. Women, youth, low skill labor and those in the informal sector remain most affected by lack of access to social safety nets and income opportunities. Notably, the countries on this list (of richest African countries) are ranked based on GDP per capita. Swift detection, early testing and rapid response require cross-border collaboration and strong solidarity among neighboring countries and with the international community to combat the spread of infectious diseases. SEYCHELLES. Since the start of the pandemic in March 2020, the World Bank has made available nearly $24.7 billion to respond to the COVID-19 crisis in Africa. By 2020, the BRICS countries are expected to contribute nearly half of all global gross domestic product (GDP) growth. Found inside – Page 255A number of middle‐income African countries issued debts denominated in a ... on average by 1.3 percentage points of GDP, or 10%, between 2019 and 2020. This page displays a table with actual values, consensus figures, forecasts, statistics and historical data charts for - GDP. The October World Economic Outlook projected the global economy would contract by 4.4 percent in 2020. GDP per capita – $3,948. Sub-Saharan Africa. Research and analysis: Knowledge is essential for governments to make better policies and institutions to make aid more effective. Found inside – Page iSub-Saharan Africa is facing an unprecedented health and economic crisis that threatens to throw the region off its stride, reversing the encouraging development progress of recent years. The table has current values for GDP, previous releases, historical highs and record lows, release frequency, reported unit and currency plus links to historical data charts. Growth in Western and Central Africa contracted by 1.1% in 2020, less than projected in October 2020 partly due to a less severe contraction in Nigeria, the subregion’s largest economy, in the second half of the year. This builds on the first ACBP, which is the largest financier of climate action in Africa and established a strong track record in which the Bank supported 346 projects with more than $33 billion over the past six years. Tshwane is the administrative capital of South Africa and is home to the Union Buildings with government-related business playing an important role in the local economy. 2. BRIC is a powerful bloc of emerging economies which recorded a combined GDP of R18 trillion late in December 2010. Africa is not entirely backward because of the presence of some countries. Africa has an average GDP per capita of 1,809, the lowest of the six continents. Unlike developed economies, poor African countries do not have large markets for their products. Mining dependent economies such as Mozambique and Zambia continued to experience output contractions in the second half of 2020. To effectively create a list of most developed countries in the African context, a reconciliation of the HDI, GDP, DBI, and PCI are the primary parameters to consider. Alleviating the debt burden will release resources for public investment in areas such as education, health, and infrastructure. Our most recent regional studies can be found here, and analytical work by country is published on each country’s website. The Asian Aspiration chronicles the stories of explosive growth and changing fortunes: the leaders, events and policy choices that lifted a billion people out of abject poverty within a single generation, the largest such shift in human ... Existing operations support grid extension and expansion of transmission networks, innovative off-grid electrification solutions, expansions of renewable generation capacity, development of regional power pools, and improvement of service efficiency. 1. This site uses cookies to optimize functionality and give you the best possible experience. And to determine a country’s GDP per capita for a specified year, we have to divide the GDP for that year by the corresponding population. GDP growth (annual %) - Sub-Saharan Africa from The World Bank: Data. Scientific Study from the year 2020 in the subject Economics - International Economic Relations, language: English, abstract: This study aims identifying the mediation effect of export in the relationship between FDI and GDP in low and ... The World Bank Group is a founding member of the Sahel Alliance, along with France, Germany, the European Union (EU), African Development Bank (AFDB), and United Nations Development Programme (UNDP). This page provides values for GDP reported in several countries part of Africa. Selected Countries and Economies. Economic activity in Sub-Saharan Africa is estimated to have contracted by 2% in 2020, reflecting a slower-than-expected spread of the virus and lower COVID-19-related mortality in the region, strong agricultural growth, and a faster-than-expected recovery in commodity prices. The World Bank is working with the AUC and UN Economic Commission for Africa (UNECA) to facilitate implementation of the African Continental Free Trade Area. They’ve been consistent at this same position for years. Found inside – Page 39Asian countries GDP (billion) Per capita Africa countries Per capita GDP ... the listed sources: Statistics Times (2020) “List of Asian Countries by GDP”, ... Most Recent Value (Millions) Sub-Saharan Africa. It has also exacerbated public debt vulnerabilities, which are high and continue to rise in many countries. More than a year into the pandemic, slower spread of the coronavirus and lower COVID-19-related mortality, decisive actions by countries to save lives and livelihoods, and a faster-than expected recovery in commodity prices have contributed to improve economic prospects of many Sub-Saharan African (SSA) economies. Here’s an updated list of the richest countries in Africa 2020 by GDP (PPP) per capita. $) Share in 2019 (%) Rank PPP/Nom; 2018 2019 Change Africa World Africa World; Somalia: 12.088: 12.660: 0.572: 0.177 Congo. South Africa GDP (Gross Domestic Product) was INT$680.04billion for 2020 in PPP terms. Found insideWhat can prosperity possibly mean in a world of environmental and social limits? The publication of Prosperity without Growth was a landmark in the sustainability debate. Most Recent Year. Adapting to climate change and building climate resilience. World Bank national accounts data, and OECD National Accounts data files. GDP per capita: $17,154.74. Also, the electrification of six rural settlements—Bariénou, Sikki, Guessou-Bani, Dérassi, Tantéga-Tétonga and Tolehoudji—helped connect 3,560 people to on-grid electricity. South Africa has a quarterly GDP per capita, of. Found inside – Page 31Remittance inflows are negligible for 18 of the 48 countries in the region—that is, they did not amount to more than 1 percent of GDP in 2019. South Africa ... This includes up to $50 billion for African countries. Sub-Saharan Africa gdp for 2020 was $1,685.63B, a 4.77% decline from 2019. Beyond, the COVID-19 response, The World Bank Group strategy for Africa also prioritizes investments in human capital and digital economy. If you continue to navigate this website beyond this page, cookies will be placed on your browser. The country’s GDP in 2020 stood at $17.18 billion, representing a 7.89% decline compared to $18.65 billion recorded in the previous year. At the first position is Seychelles which is an archipelago in the Indian Ocean with a population of 99,847 citizens. Growth in sub-Saharan Africa has slightly recovered in 2019 (2.6 percent) from 2.5 percent in 2018. Selected Countries and Economies. Stepping up to support regional integration in Africa. It also underwrites the World Bank’s efforts to support a green, resilient and inclusive recovery from the impacts of the COVID-19 pandemic that tackles rising poverty and deepening inequality while addressing the longer-term challenge of climate change. Brazil’s economy is the 12th largest in the world with an estimated worth of natural resources being $21.8 trillion. South Africa. %. 1.7% LATAM 1.7% EU-28 4% Africa Sub-Saharan Africa’s recovery is expected to be multi-speed, with significant variation across countries. Found insideThe publication Revenue Statistics in Africa is jointly undertaken by the OECD Centre for Tax Policy and Administration and the OECD Development Centre, the African Union Commission (AUC) and the African Tax Administration Forum (ATAF). To support these ambitions, the World Bank is investing $22 billion across 162 human development projects, and nearly $14 billion in new investments are in the pipeline. To address this challenge, the World Bank Group is helping to increase access to affordable reliable and sustainable energy across Africa. " Income Inequality Trends in sub-Saharan Africa: Divergence, Determinants, and Consequences is a groundbreaking United Nations Development Programme (UNDP) study that provides policy guidance to reduce income inequality in sub-Saharan ... Dec/20. US leads in the world’s GDP, followed by China, though most of the African countries are still developing, a few of the African countries have done well in the global map. Africa’s poorest countries saw little to no progress on average in improving the quality of their policy and institutional frameworks in 2018. Top 10 Richest Countries in Africa 2021 Forbes. Found insideThe book identifies potential risks to business and offers mitigation strategies. The World Bank's Africa Human Capital plan sets ambitious targets to boost Sub-Saharan Africa’s human capital—the knowledge, health and resilience of its people. The World Bank Group leverages partnerships, knowledge, and financing instruments to further its twin goals of ending poverty and promoting shared prosperity. Africa gdp for was $0.00B, a NAN% decline from . Furthermore, its the richest country in Africa per capita gdp … In 2017, Nigeria was the biggest economy in Africa with a GDP of $400.6 billion, and this makes up for 0.5% of the world’s GDP. The economic impact of the COVID-19 pandemic in Sub-Saharan Africa has been severe; however, countries are weathering the storm so far. DataBank Microdata Data Catalog. The World Bank Group is a leading financier of agriculture, with $8.1 billion in new commitments in 2013. The country with the highest gross domestic product value in Africa is Equatorial Guinea, and the country with the lowest GDP is Somalia. • More than 170 countries are set to experience a lower GDP per capita compared to their 2019 average values. The Biggest Economies in Africa Nigeria . Seychelles drives its economy through tourism and has managed to maintain considerable growth within the last decade. GDP (PPP) Country/Economy GDP (billions of Int. The African Continental Free Trade Area (AfCFTA) represents a historic opportunity for the continent to boost intra-African trade and accelerate structural transformation. Fragile countries in the region are expected to experience a strong decline in growth as COVID-19 (coronavirus) exacerbates the drivers of fragility. GDP (Nominal) and GDP (PPP) of African countries by IMF. How the Kenyan Economy performed in 2020 a mid COVID-19. Morocco is also ahead of many other African countries in terms of the number of military troops. License : CC BY-4.0. Both projects have mobilized resources to help countries procure laboratory equipment and increase their capacities to address the COVID-19 pandemic. The Central African Republic, for example, is the second-poorest country in Africa and has a population of 4.7 million people and a life expectancy of 52.9 years. It is projected to remain in fifth place in 2020 with the value of $20,007. Since the Africa Human Capital Plan launched in 2019—of which women and girls’ empowerment is a central tenant — the World Bank has approved over $6 billion in investments that champion women and girls. Protecting and creating jobs: Micro, Small and Medium-Sized Enterprises, which provide the majority of jobs, have been particularly hard hit across the region where informal firms dominate employment. On a nominal basis, the US is ahead of China by $6 trillion in 2021 compared to $6.2 trillion in 2020.On a ppp basis, China has overtaken the US in … Between November 2020 and March 2021, 57,000 new beneficiaries were prioritized for contactless, social protection payments through the use of predictive algorithms. We face big challenges to help the world’s poorest people and ensure that everyone sees benefits from economic growth. Supporting inclusive governance and transforming economies. The World Bank also supports countries to address forced displacement and refugees. Our response efforts are focused around four main areas: saving lives, protecting poor people, protecting and creating jobs, and building back better. In Togo, the Novissi platform delivers contactless, emergency cash transfers based on machine learning techniques and mobile money. GDP per Capita: $63,051. More than 20 SSA countries in have requested development policy operations or budget support from the Bank to assist them to manage the fiscal impacts of the pandemic. This book must be read and reread.” — Los Angeles Times Book Review In the late nineteenth century, as the European powers were carving up Africa, King Leopold II of Belgium carried out a brutal plundering of the territory surrounding ... The Bank has also provided $250 million to help Ethiopia, Zambia and the African Union implement the Africa Centers for Disease Control and Prevention project, which aims to counter the spread of infectious diseases and address regional and continental public health issues. In 2020, the World Bank launched The Next Generation African Climate Business Plan (ACBP) which sets out a new, innovative blueprint to help Sub-Saharan African economies achieve low carbon and climate-resilient outcomes. To learn more about cookies, click here. Among tourism-dependent Caribbean nations, the … Menu. In the aftermath of the West Africa Ebola crisis, the World Bank leveraged more than $600 million to launch the Regional Disease Surveillance Systems Enhancement (REDISSE) Project to strengthen health systems and support effective disease surveillance 16 West and Central African countries. The World Bank recently approved $105 million in additional financing to help secure the livelihoods of more than 300,000 poor and vulnerable households, including women and girls, amidst the COVID-19 pandemic. Collaboration with the United Nations High Commissioner for Refugees (UNHCR), the EU, and the African Union Commission (AUC) underpins World Bank programs implementing a development approach to forced displacement the Great Lakes, Horn of Africa, Sahel, and Lake Chad countries. Egypt is one of the African countries that pride itself … The people of another quite small nation, Guyana—215,000 square kilometers bordering with Brazil, Suriname, Venezuela and the North Atlantic Ocean—could learn a thing or two from it. Scenario 3: Contained global outbreak, Africa widespread. Most Recent Year. Across Africa, many World Bank-financed projects, such as the Azito Power Project in Cote d’Ivoire are leveraging private capital and reducing public debt as well as lowering the overall costs of service for electricity. The Gross Domestic Product (GDP) in Central African Republic was worth 2.30 billion US dollars in 2020, according to official data from the World Bank. The government has managed to use the revenue from tourism to move its population of approximately 95,500 (2018) towards upper-middle-income earners. Most Recent Value (Millions) Sub-Saharan Africa. These Are Top 10 Richest Countries in Africa 2020 According To GDP Per Capita. International Comparison Program & Purchasing Power Parity, International Household Survey Network (IHSN), Trust Fund for Statistical Capacity Building. ... 24 Feb 2020: Top Statistics Olympics Medal Table 2020. This situation could push up to 40 million people into extreme poverty, erasing at least five years of progress in fighting poverty. Menu. Additional resources (about $190 million) are being leveraged through project restructuring and existing health operations. Harnessing technological developments to improve access to clean and reliable energy. Most Recent Year. The GDP value of Central African Republic represents less than 0.01 percent of the world economy. Close. License : CC BY-4.0. Online tool for visualization and analysis. Help us … During the first half of 2020, Nigeria received $7.1 billion in foreign investment. Found inside – Page 78figure 1 Impacts of pandemic lockdowns on poverty and GDP in selected African countries, 2020 20 GDP Poverty 10 e gnahc e gatnecr eP 0 -10 -20 -30 -40 ... Read the World Bank’s plan to support African countries to strengthen the quantity, efficiency and impact of investments in people. Africa is a resource-rich continent. The list of countries by GDP showed on this page is based on the latest data from the World Economic Outlook by the International Monetary Fund. %. 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