emerging africa
TRANSCRIPT
The Young Continent
world's second largest & second most populous
continent
20 % of total land area
1.0 billion people
youngest continent in terms of its population
50 % of Africans 19 years old or younger
Africa’s economic pulse has quickened
GDP rose by 4.9 % a year from 2000 through 2008
The Young Continent
telecommunications, banking & retailing are
flourishing
construction is booming, private-investment
inflows are surging
collective GDP at $1.6 trillion in 2008
continent among the world’s most rapidly
growing economic regions
The Young Continent
about 70% of Africa’s imports from the world
composed of high value manufactured goods
top 5 imported products:
machinery & equipment
chemicals
petroleum products
scientific instrument
foodstuffs
Import
imports of grains have been spread & increased
twice as much as in 20 years from 1991-2011
main grains are wheat, corn & rice
Import
17.3% of world grain imports is occupied by Africa
Export
one of the main driving forces of growth is
trade risen in terms of value since 2005
top 5 exported products:
palm oil
gold & diamonds
oil fuel
cocoa & timber
precious metals
exports to earn hard currency for imported capital
goods & to finance investments required to diversify
used to reduce budget deficits, fund investments &
build foreign-exchange reserves
Africa’s oil & gas exporters have the continent’s
highest GDP per capita
Algeria, Angola, Chad, Congo, Equatorial
Guinea, Gabon, Libya & Nigeria
Export
Future Outlook
African countries become more politically stable
average growth rate of 5.5 % of GDP expected
to continue
reforms have been directed towards improving
competitiveness & investing in measures
investment in infrastructure is being stepped up