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Economy Of Africa
The economy of Africa consists of the trade, industry, agriculture, and human resources of the continent. , approximately 1.3 billion people were living in 54 countries in Africa. Africa is a resource-rich continent. Recent growth has been due to growth in sales in commodities, services, and manufacturing. West Africa, East Africa, Central Africa and Southern Africa in particular, are expected to reach a combined GDP of $29 trillion by 2050. 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$1,025 per person a year) by 2025 if current growth rates continue. There are a number of reasons for Africa's poor economy: historically, even though Africa had a number of empires trading with many parts of the world, most people lived in tribal rural societies; in addition, European colonization and the later Cold War created political, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
List Of Continents By GDP (nominal)
This article includes a list of continents of the world sorted by their gross domestic product (GDP), the market value of all final goods and services from a continent in a given year. The GDP dollar estimates presented here are calculated at market or government official exchange rates. 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. Such fluctuations may change a continents ranking from one year to the next, even though they often make little or no difference to the standard of living of its population. Therefore, these figures should be used with caution. Comparisons of national wealth are also frequently made on the basis of purchasing power parity (PPP), to adjust for differences in the cost of living in different countries. (''See'' List of countries by GDP (PPP).) PPP largely removes t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
