#YouAsked Economy What countries have the largest economies in Africa? Source IMF: World Economic Outlook (2023) Short answer What countries have the largest economies in Africa? Nigeria and Egypt lead the way as Africa's biggest economies, each with a GDP of $477 billion, followed by South Africa with a GDP of $406 billion in 2022. ... Back Full answer
#YouAsked Economy Which is Africa’s fastest-growing economy? Source African Economic Outlook 2023 Short answer Which is Africa’s fastest-growing economy? Benin, Côte d’Ivoire, Ethiopia, Rwanda, and Tanzania are among the world’s 10 fastest-growing economies in 2023-24. ... Back Full answer
#YouAsked Economy What is Nigeria’s balance of trade? Source National Bureau of Statistics: Foreign Trade in Goods Statistics (Q2 2023) Short answer What is Nigeria’s balance of trade? In the second quarter of 2023, Nigeria’s total trade balance was N12,741.96 billion. Total exports amounted to t N7,015.71 billion and total imports were N5,726.25 billion. ... Back Full answer
#YouAsked Economy How much does fuel cost in Nigeria? Source National Bureau of Statistics: Premium Motor Spirit (Petrol) Price Watch (November 2023) Short answer How much does fuel cost in Nigeria? The average retail price paid by consumers for Premium Motor Spirit (petrol) in November 2022 was N202.48,a 29.81% increase compared to the value in November 2021 (N167.60). ... Back Full answer
#YouAsked Economy What is Nigeria’s GDP per capita? Source World Bank: GDP per capita (current US$) - Nigeria Short answer What is Nigeria’s GDP per capita? The country’s GDP per capita (nominal GDP divided by the mid-year population) was US$2,184 in 2022 as per World Bank estimates. ... Back Full answer
#YouAsked Economy What was South Africa’s gini coefficient in 2020? Source The World Bank: Inequality in Southern Africa: An Assessment of the Southern African Customs Union Short answer What was South Africa’s gini coefficient in 2020? The Gini coefficient is a globally used measure of inequality, between individuals or households within an economy. The coefficient ranges from 0 to 1, with 0 representing perfect equality (all individuals have the same income) and 1 representing perfect inequality (where one person has all the inco... Back Full answer
#YouAsked Economy What is South Africa’s Gini coefficient? Source The World Bank: Inequality in Southern Africa: An Assessment of the Southern African Customs Union Short answer What is South Africa’s Gini coefficient? The Gini coefficient is a globally used measure of inequality, among individuals or households within an economy. The coefficient ranges from 0 to 1, where 0 represents perfect equality (all individuals have the same income) and 1 indicates perfect inequality (where one person has all the income and... Back Full answer
#YouAsked Economy Did the Kenyan economy grow over the pandemic period? Source World Bank: Kenya’s Economy is Showing Resilience as Output Rises Above Pre-Pandemic Levels Driven by a Rebound in the Services Sector Short answer Did the Kenyan economy grow over the pandemic period? Kenya's economy has demonstrated resilience to the Covid-19 shock, with output in the first half of 2021 rising above pre-pandemic levels. In 2021 as a whole, gross domestic product (GDP) grew by 5%, one of the faster recoveries among Sub-Saharan African countries. ... Back Full answer
Economy #YouAsked Is Ghana the country with the highest number of mobile money users in Africa? Source The 2017 Global Findex database Short answer Is Ghana the country with the highest number of mobile money users in Africa? No. According to the World Bank’s latest Global Findex database, 73% of adults in Kenya had a mobile money account in 2017. In Uganda and Zimbabwe, the figure stood at about 50%.The share of adults owning a mobile money account in Ghana in 2017 was 39%. ... Back Full answer