Africa economics chartbook
Fast-growing African economies have helped drive Africa’s share of global output, however the growth outlook between the individual African economies is extremely varied. The two largest economies, South Africa and Nigeria, experienced weak growth rate in 2017 but this is expected to improve in 2018-2019. Faster growing economies in East Africa are expected to continue to drive wider African growth.
Key messages for Q2 2018
- The global economy is experiencing a pick-up in growth in 2018, with a synchronised recovery in advanced and emerging markets
- Growth in sub-Saharan Africa continues to diverge by region but is projected to gradually rise in 2018 and 2019, as the challenging outlook in commodity exporters gradually improves
- Reduced political uncertainty in Africa’s large sub-Saharan economies of South Africa, Nigeria and Kenya has bolstered business confidence but the medium-term growth outlook remains subdued
- Government indebtedness is a rising concern for many African states, with the interest costs on sub-Saharan African countries’ debt rising sharply in recent years
For detailed trends and forecasts for the economies in this continent, download and read the chartbook now.