Expert Chaslau Koniukh
  • Companies
  • Global investment
  • Investors
  • Terminology
  • Economy
  • Stock Market
  • World exchanges
  • Tech and Marketing
GDP of African countries
Economy

African GDP was able to withstand the coronavirus pandemic

18.03.2021
2 min read

African GDP grew despite the pandemic

Despite the existing problems of poverty and high morbidity rates, the African continent has been showing good economic dynamics for some time. Improvements are particularly visible in those countries located south of the Sahara. According to last year’s data, the GDP of African countries in this region grew by an average of 5.4%, and some of them have succeeded more than others. Experts point out that the coronavirus pandemic may be the impetus for the continent’s development. Such conclusions are based on an analysis of the situation that was in the Ebola epidemic in 2014.
IMF experts predict that the economy of Africa, which lies in Sub-Saharan Africa, will decline by 1.6%, which is a non-critical decline. At the same time, the crisis will not affect a number of states, and they will continue to develop. For example, Rwanda shows growth of 3.5%, Ethiopia – 3.2%. The GDP of Uganda will increase by 3.5%, and Kenya – by 1%. The negative effects of COVID-19 have had a greater impact on developed countries, to which Nigeria and South Africa belong. Here, the decline is recorded at 3.4% and 5.8%, respectively.
The reason that Africa was not as seriously affected by the pandemic as the U.S. or Europe is that the continent is not as deeply integrated into the economic, humanitarian and tourism sectors of the world market as other regions. On the one hand, these interrelationships between states have contributed to the rapid spread of the pandemic, and on the other hand, have damaged the global economy.

GDP of African countries

In addition, there are demographic characteristics of the coronavirus. People over 60 years of age are most susceptible to the disease, while the average age of African residents is about 19 years. The elderly people on the continent are about 5.4%. Most people here live in rural areas, and do not leave their region, so the pandemic is spreading slowly. Therefore, the number of people in Africa is much lower than in Russia, the U.S. and several other countries. In June, they numbered 330 thousand, which is less than 3% of the total population of the continent. Five states, including South Africa, Egypt and Algeria, account for 70% of the infection.
One should also take into account the fact that epidemics often erupt in Africa, and to some extent, the continent is ready for such scenarios. Only in the last 10 years there were more diseases here than in Europe and North America in 100 years. Therefore, the economies of African countries withstood the pandemic better than many, more developed countries.

Tags: Global Economy
0
Previous Post Ingeborg Mootz: a woman who became a stock player at the age of 75 Next Post Chinese company SMIC wants to attract 6.55 billion dollars through the sale of shares

You Might Also Like

record growth
Economy
Germany reported record economic growth in Q3 2020
05.08.2021
The state of the U.S. economy
Economy
Moody’s Analytics experts have assessed the state of the U.S. economy
17.05.2022
Economy
Britain and Turkey sign free trade area agreement
18.11.2021
damages to the United States
Economy
What damage has been caused by the pandemic in the USA in 2020: figures from analysts
26.06.2021
bank-of-japan
Economy
Bank of Japan left the key rate unchanged
14.10.2021
UAE government-2
Economy
The UAE government supports the business ideas of civil servants
10.05.2023

Popular Posts

  • Ingeborg Mootz: a woman who became a stock player at the age of 75
  • Businessman Chuck Feeney: the man who gave the world Duty Free
  • Analysts: Egypt’s economy to continue falling in 2023
  • Field of activity of the American Monsanto Company Corporation

Editor's Picks

Chaslau Koniukh
Analytics

American bankers from JPMorgan and Goldman Sachs advise to invest in gold: review by Chaslau Koniukh.

Spokesperson
17.08.2020
Expert Chaslau Koniukh
Analytics

Chaslau Koniukh on the analysts’ opinion on the key stake size change soon

Spokesperson
18.06.2020
expert Chaslau Koniukh
Analytics

Chaslau Koniukh: Internet trade market in Russia may reach 2.78 trillion rubles.

Spokesperson
30.05.2020
Will the U.S. oil shale industry be able to quickly recover from the crisis: A Review by Chaslau Koniukh
Analytics

Will the U.S. oil shale industry be able to quickly recover from the crisis: A Review by Chaslau Koniukh

Spokesperson
16.05.2020

Popular Posts

  • Ingeborg Mootz: a woman who became a stock player at the age of 75
  • Businessman Chuck Feeney: the man who gave the world Duty Free
  • Analysts: Egypt’s economy to continue falling in 2023
  • Field of activity of the American Monsanto Company Corporation
  • Spain’s economy performs best in the EU
Expert Chaslau Koniukh
  • Facebook
  • Twitter
  • Instagram

© 2024 CHASLAU KONIUKH. ALL RIGHTS RESERVED. Expert in marketing and project management, international investments, financial analyst.

Menu

  • Biography
  • Companies and corporations
  • Global investment
  • Investors and Entrepreneurs
  • Economy
  • Market terminology
  • Stock Market
  • World exchanges
  • Tech and Marketing
  • Analytics