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Which Five Countries Are Leading in Projected GDP Growth in Sub-Saharan Africa This Year?
Which Five Countries Are Leading in Projected GDP Growth in Sub-Saharan Africa This Year?
Sputnik Africa
Earlier in April, the World Bank predicted that economic growth in sub-Saharan Africa is expected to reach 3.4% in 2024 and 3.8% in 2025, up from 2.4% in 2023... 24.04.2024, Sputnik Africa
2024-04-24T19:15+0200
2024-04-24T19:15+0200
2024-04-25T09:18+0200
sub-saharan africa
niger
senegal
rwanda
international monetary fund (imf)
economy
gdp
world bank
statistics
economic growth
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The International Monetary Fund (IMF) predicted that in 2024, Niger, Senegal, Rwanda, Cote d'Ivoire and Ethiopia will have the highest GDP growth rates in sub-Saharan Africa, according to the organization's latest regional outlook.These countries will show annual growth of 10.4%, 8.3%, 6.9%, 6.5% and 6.2%, respectively.However, the forecast is not limited to this year; in 2025, the ranking will be topped by Senegal with 10.2%. Rwanda will come in second (7%), with South Sudan just 0.2% behind, a decent 6.8%. Ethiopia, Uganda and Cote d'Ivoire round out the top five. East African countries will show growth of 6.5%, and their Western counterparts - 6.4%.However, in absolute numbers, Ethiopia will demonstrate a noticeable lead among these countries in the coming years: this and next year, the size of its GDP will be $205.13 billion and $236.04 billion, and in five years, it could reach $358.71 billion, according to the Statista global data and business intelligence platform.The country is followed by Cote d'Ivoire, which in 2029 could show a GDP of $128.31 billion, and Uganda with $90.14 billion. Senegal, Niger and Rwanda may reach $53.02, $27.72 and $19.48 billion, respectively.Statista does not provide data for South Sudan, though.The new data echoes the IMF's January forecast. Then the top ten largest economies in the world in terms of GDP growth included Niger (11.1%), Senegal (8.8%), Libya (7.5%), Rwanda (7%), Cote d'Ivoire (6.6%), Burkina Faso (6.4%) and Benin (6.3%).
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niger, senegal, rwanda, international monetary fund (imf), economy, gdp, world bank, statistics, economic growth, west africa, east africa, cote d'ivoire (ivory coast), ethiopia, uganda, south sudan
Which Five Countries Are Leading in Projected GDP Growth in Sub-Saharan Africa This Year?
19:15 24.04.2024 (Updated: 09:18 25.04.2024) Christina Glazkova
Writer / Editor
Earlier in April, the World Bank predicted that economic growth in sub-Saharan Africa is expected to reach 3.4% in 2024 and 3.8% in 2025, up from 2.4% in 2023, while the continent's average inflation will fall from 7.1% in 2023 to 5.1% in 2024 and 5% in 2025-2026.
The International Monetary Fund (IMF)
predicted that
in 2024,
Niger,
Senegal, Rwanda, Cote d'Ivoire and
Ethiopia will have the highest GDP growth rates in sub-Saharan Africa, according to the organization's
latest regional outlook.
These countries will show annual growth of 10.4%, 8.3%, 6.9%, 6.5% and 6.2%, respectively.
However, the forecast is not limited to this year;
in 2025, the ranking will be topped by
Senegal with 10.2%.
Rwanda will come in second (7%), with
South Sudan just 0.2% behind, a decent 6.8%. Ethiopia, Uganda and Cote d'Ivoire round out the top five. East African countries will show growth of 6.5%, and their Western counterparts - 6.4%.
However, in absolute numbers,
Ethiopia will demonstrate a noticeable lead among these countries in the coming years: this and next year, the size of its GDP will be $205.13 billion and $236.04 billion, and in five years, it could reach $358.71 billion, according to the Statista global data and business intelligence platform.
The country is followed by Cote d'Ivoire, which in 2029 could show a GDP of $128.31 billion, and Uganda with $90.14 billion. Senegal,
Niger and Rwanda may reach $53.02, $27.72 and $19.48 billion, respectively.
Statista does not provide data for South Sudan, though.
The new data echoes the IMF's January forecast. Then the top ten largest economies in the world in terms of GDP growth included Niger (11.1%), Senegal (8.8%), Libya (7.5%), Rwanda (7%), Cote d'Ivoire (6.6%), Burkina Faso (6.4%) and Benin (6.3%).
