In 2024, Niger's real GDP is estimated to grow by 10.4 percent compared to the previous year. During 2023, the GDP is estimated to have increased by only 1.4 percent, nevertheless a positive trend. The country's real GDP is forecast to continue growing but at a slower pace. Between 2025 and 2029, it is expected to grow annually by roughly six percent. Furthermore, the GDPs of Senegal, Libya, and Rwanda might increase by around 8.3 percent, 7.8 percent, and 6.9 percent during 2024, respectively. Niger: A dependence on agriculture A large portion of Niger's economy comes from agriculture. In 2022, agriculture accounted for almost 40 percent of the GDP. Niger is not the only country in Africa where agriculture plays a crucial role. For example, agriculture made up nearly 60 percent of Sierra Leone’s GDP in 2022. Such dependence could mean that any disruptions in the agricultural products market could have significant effects on the country's GDP. Sub-Saharan Africa's economy will be among the fastest-growing regions worldwide Three African countries have significantly larger economies, namely, Nigeria, South Africa, and Egypt. As of 2022, these countries' GDP stood at nearly 477.4 billion, 475.2 billion, and 405.7 billion U.S. dollars. Furthermore, it is anticipated that Sub-Saharan Africa's GDP growth in 2026 will rank as the second-fastest growing economic region in the world after the ASEAN-5 countries, with a growth rate of approximately four percent. In contrast, economic areas such as the European Union are forecast to grow at only about 1.5 percent in the same year.

This dataset provides values for GDP ANNUAL GROWTH RATE reported in several countries. The data includes current values, previous releases, historical highs and record lows, release frequency, reported unit and currency.

Seychelles had the largest Gross Domestic Product (GDP) per capita in Africa as of 2024. The value amounted to 21,630 U.S. dollars. Mauritius followed with around 12,330 U.S. dollars, whereas Gabon registered 8,840 U.S. dollars. GDP per capita is calculated by dividing a country’s GDP by its population, meaning that some of the largest economies are not ranked within the leading ten. Impact of COVID-19 on North Africa’s GDP When looking at the GDP growth rate in Africa in 2024, Libya had the largest estimated growth in Northern Africa, a value of 7.8 percent compared to the previous year. Niger and Senegal were at the top of the list with rates of 10.4 percent and 8.3 percent, respectively. During the COVID-19 pandemic, the impact on the economy was severe. The growth of the North African real GDP was estimated at minus 1.1 percent in 2020. However, estimations for 2022 looked much brighter, as it was set that the region would see a GDP growth of six percent, compared to four percent in 2021.
Contribution of Tourism Various countries in Africa are dependent on tourism, contributing to the economy. In 2023, travel and tourism were estimated to contribute 182.6 billion U.S. dollars, a clear increase from 96.5 in 2020 following COVID-19. As of 2024, South Africa, Mauritius, and Egypt led tourism in the continent according to the Travel & Tourism Development Index.

The real gross domestic product (GDP) of Niger is estimated to have grown by **** percent in 2022, which is the highest estimated growth rate across all African countries. In comparison, Libya's economy is estimated to have contracted by *** percent.

As of 2023, the GDP of Africa was estimated at roughly 3.1 trillion U.S. dollars. This was the highest value since 2010 when the continent's GDP amounted to approximately 2.1 trillion U.S. dollars. The GDP value in Africa generally followed an upward trend in recent years and was estimated to exceed 4.2 trillion U.S. dollars by 2027.

Leading the charge: the three leading African economies

Among the African countries, in 2021, Nigeria had the highest GDP with approximately 442 billion U.S. dollars. South Africa and Egypt followed. These three countries have the largest economies for various reasons. The most notable factors are their population size, natural resources, and level of economic development. Furthermore, Africa was projected to have a real GDP growth rate of 3.9 percent in 2023. Libya was the economy experiencing the highest growth rate in that year.

The Sub-Saharan African economy on the rise

A global comparison showed that Sub-Saharan Africa had the smallest GDP among all world regions in 2021, amounting to 1.87 trillion U.S. dollars. A closer look revealed that Sub-Saharan Africa had a GDP per capita of 1,626.3 U.S. dollars in 2021, again the lowest worldwide. However, the region's economy was forecast to experience continued growth in the following years, with the real GDP increasing by 3.7 percent in 2023.

Ethiopia export data: Discover the rising African powerhouse, leading in coffee, textile, and oilseed trade. Be part of its growth story!

Kenya's Gross Domestic Product (GDP) was estimated to grow by *** percent in 2021. The country has the largest economy in East Africa. Tanzania, which is the secondmain economy in the region, might expand by **** percent in the same year. In its turn, the economic growth in Ethiopia was estimated at *** percent.

South Africa's GDP amounted to just over 418 billion U.S. dollars in 2025, the highest in Southern Africa. Zimbabwe ranked second, with a GDP worth around 37 billion U.S. dollars. Lesotho, on the other hand, ranked the lowest with a GDP of over 2.4 billion U.S. dollars.

This statistic shows the 20 countries with the highest growth of the gross domestic product (GDP) in 2024. In 2024, Guyana ranked 1st with an estimated GDP growth of approximately 43.57 percent compared to the previous year. GDP around the world Gross domestic product (GDP) is an indicator of the monetary value of all goods and services produced by a nation in a specific time period. GDP is a strong index of a country’s economic strength - the higher the GDP of a nation, the stronger that country’s economy. The countries in the world with the highest GDP or GDP per capita are mainly developed and emerging countries, with global gross domestic product amounting to nearly 75 trillion U.S. dollars. As of 2016, the United States is the nation in the world with the highest GDP with more than 18.56 trillion U.S. dollars, which makes up more than 15.7 percent of the global GDP. The countries with the lowest gross domestic product per capita in 2014 were mainly African nations. The country in the world with the lowest GDP per capita in 2016 was South Sudan, followed by Malawi, and Burundi. However, several economically struggling African and Asian countries such as Myanmar, Côte d'Ivoire, Bhutan, and India reported the highest growth of the gross domestic product in 2016. Also in the top 20 nations with the highest growth of the GDP is China. In 2016, the GDP in China was the second highest GDP in the world. It is estimated that by 2019 the GDP in China will grow by 6 percent. Based on this estimate, GDP in China will be at around 14.6 trillion U.S. dollars by 2019.

Africa is home to fast growing economies with a young, growing population and rapid rates of urbanization along with very low rates of motorization. By 2035, the continent is expected to have the largest labour force potential in the world. The automotive and logistics sector holds a key position due to its sustainable value creation in supplier networks, assembly plants, distribution structures and pan-African trade relations and offers great potential for innovation, growth and jobs. The digital economy and sustainable mobility have particularly high development potential. Thus, the automotive sector is striving to become an engine for innovation, growth and jobs. The level of motorization in Africa is just 42 vehicles per 1,000 inhabitants, which is significantly below the global average of 182 per 1,000.

The burden of animal disease is widespread globally and is especially severe for developing countries dependent on livestock production. Ethiopia has the largest livestock population in Africa and the second-largest human population on the continent. Ethiopia is one of the fastest-growing economies in Africa; however, much of the population still lives in extreme poverty, and most households depend on agriculture. Animal disease negatively affects domestic livestock production and limits growth potential across the domestic agricultural supply chain. This research investigates the economic effects of livestock disease burden in Ethiopia by employing a computable general equilibrium model in tandem with animal health loss estimates from a compartmental livestock population model. Two scenarios for disease burden are simulated to understand the effects of improved animal health on domestic production, prices, trade, gross domestic product (GDP), and economic welfare in Ethiopia. Results show that improved animal health may increase Ethiopian GDP by up to 3.6%, which improves national welfare by approximately $US 2.5 billion. This research illustrates the economic effects of improved livestock health, which is critical for Ethiopian households and the national economy.

This dataset provides values for INFLATION RATE reported in several countries. The data includes current values, previous releases, historical highs and record lows, release frequency, reported unit and currency.

The fastest growing city in Africa is Bujumbura, in Burundi. In 2020, this city had an estimated population of about one million. By 2035, the population of Bujumbura could increase by 123 percent and reach roughly 2.3 million people. Zinder, in Niger, had about half million inhabitants in 2020 and, with a growth rate of 118 percent, is Africa's second fastest growing city. In 2035, Zinder could have over one million residents.

As of 2021, the largest city in whole Africa is Lagos, in Nigeria. Other highly populated cities in Africa are Kinshasa, in Congo, Cairo, and Alexandria, both located in Egypt.

Floating LNG Market Outlook

According to our latest research, the Global Floating LNG market size was valued at $18.7 billion in 2024 and is projected to reach $46.2 billion by 2033, expanding at a robust CAGR of 10.6% during the forecast period of 2025–2033. The primary driver for this impressive growth trajectory is the increasing demand for flexible and cost-effective LNG infrastructure, particularly in regions with limited access to traditional pipeline networks. Floating LNG (FLNG) solutions, which encompass both liquefaction and regasification technologies, are revolutionizing the way natural gas is processed, stored, and transported, enabling rapid deployment and minimizing the environmental footprint compared to onshore facilities. The market is further propelled by the global transition towards cleaner energy sources and the growing need for energy security, especially in emerging economies and island nations.

Regional Outlook

Asia Pacific currently commands the largest share of the Global Floating LNG market, accounting for over 40% of total market value in 2024. This dominance is underpinned by the region’s rapidly expanding energy demand, particularly in countries such as China, Japan, South Korea, and India. These nations are actively investing in FLNG projects to diversify energy sources, reduce reliance on coal, and meet stringent emission targets. The mature LNG import infrastructure, supportive government policies, and the presence of key industry players further strengthen Asia Pacific’s leadership. Notable projects such as the Prelude FLNG in Australia and several FSRU deployments in Southeast Asia exemplify the region’s commitment to leveraging floating LNG technologies for both offshore and onshore applications.

The Middle East & Africa region is projected to be the fastest-growing market for Floating LNG, with a forecasted CAGR exceeding 13% between 2025 and 2033. This rapid expansion is fueled by significant investments in gas monetization initiatives, particularly in countries like Qatar, Nigeria, and Mozambique. The abundance of stranded gas reserves, combined with a strategic push to develop export-oriented FLNG projects, is attracting substantial foreign direct investment and partnerships with leading global energy companies. The region’s focus on enhancing energy export capabilities and tapping into new markets is expected to drive sustained demand for both liquefaction and regasification vessels, positioning the Middle East & Africa as a key growth engine for the global market.

Emerging economies in Latin America and select parts of Africa face unique challenges in FLNG adoption, including regulatory uncertainties, financing constraints, and limited technical expertise. However, localized demand for reliable power generation and industrial usage is prompting governments and private stakeholders to explore modular and small-scale FLNG solutions. Policy reforms aimed at liberalizing energy markets, coupled with international support for infrastructure development, are gradually improving the investment climate. While market penetration remains modest compared to developed regions, the long-term outlook is positive as these economies continue to address barriers and leverage FLNG as a catalyst for economic growth and energy diversification.

Report Scope

The population in Africa was forecast to expand annually by an average of **** percent between 2020 and 2025. Over 20 countries might grow above this rate, with Niger leading by an annual population change of *** percent in the mentioned period. Angola was expected to follow, with an average population growth of **** percent annually. Overall, Africa has recorded a faster population growth compared to other world regions. The continent's population almost doubled in the last 25 years.

As of 2023, Niger registered the agricultural sector's highest contribution to the GDP in Africa, at over ** percent. Comoros and Ethiopia followed, with agriculture, forestry, and fishing accounting for approximately ** percent and ** percent of the GDP, respectively. On the other hand, Botswana, Djibouti, Libya, Zambia, and South Africa were the African countries with the lowest percentage of the GDP generated by the agricultural sector. Agriculture remains a pillar of Africa’s economy Despite the significant variations across countries, agriculture is a key sector in Africa. In 2022, it represented around ** percent of Sub-Saharan Africa’s GDP, growing by over *** percentage points compared to 2011. The agricultural industry also strongly contributes to the continent’s job market. The number of people employed in the primary sector in Africa grew from around *** million in 2011 to *** million in 2021. In proportion, agriculture employed approximately ** percent of Africa’s working population in 2021. Agricultural activities attracted a large share of the labor force in Central, East, and West Africa, which registered percentages over the regional average. On the other hand, North Africa recorded the lowest share of employment in agriculture, as the regional economy relies significantly on the industrial and service sectors. Cereals are among the most produced crops Sudan and South Africa are the African countries with the largest agricultural areas. Respectively, they devote around *** million and **** million hectares of land to growing crops. Agricultural production varies significantly across African countries in terms of products and volume. Cereals such as rice, corn, and wheat are among the main crops on the continent, also representing a staple in most countries. The leading cereal producers are Ethiopia, Nigeria, Egypt, and South Africa. Together, they recorded a cereal output of almost *** million metric tons in 2021. Additionally, rice production was concentrated in Nigeria, Egypt, Madagascar, and Tanzania.

Flat Top Tower Crane Market Outlook

According to our latest research, the Global Flat Top Tower Crane market size was valued at $2.1 billion in 2024 and is projected to reach $3.8 billion by 2033, expanding at a CAGR of 6.7% during the 2024–2033 period. The primary factor propelling the robust growth of the Flat Top Tower Crane market globally is the rapid escalation in urban infrastructure projects and high-rise construction activities, particularly in emerging economies. The increasing need for efficient, safe, and versatile lifting solutions in congested urban environments has made flat top tower cranes indispensable for modern construction, driving both demand and technological innovation in this sector.

Regional Outlook

Asia Pacific commands the largest share of the global Flat Top Tower Crane market, accounting for more than 45% of the total market value in 2024. This dominance is attributed to the region’s accelerated urbanization, significant government investments in infrastructure, and the proliferation of mega construction projects in countries such as China, India, and Southeast Asian nations. The mature construction equipment market in China, coupled with favorable regulatory frameworks and the adoption of advanced construction technologies, has solidified Asia Pacific’s leadership. Furthermore, leading manufacturers have established production hubs in the region, benefiting from cost-effective labor and robust supply chains, which further enhances the region’s competitive edge in the global market.

The Middle East & Africa is projected to be the fastest-growing region in the Flat Top Tower Crane market, with a CAGR exceeding 8.2% through 2033. This impressive growth is underpinned by ambitious government-led infrastructure initiatives, such as Saudi Arabia’s Vision 2030 and the UAE’s ongoing investments in tourism and real estate. The region’s focus on diversifying economies away from oil dependency has stimulated substantial investment in energy, transportation, and urban development projects. Additionally, the influx of foreign direct investment and the entry of international construction firms have accelerated the adoption of advanced crane technologies, including flat top tower cranes, to meet complex engineering requirements and tight project timelines.

Emerging economies in Latin America and parts of Africa are experiencing gradual but promising adoption of flat top tower cranes. However, these markets face challenges such as fluctuating economic conditions, limited access to capital, and inconsistent regulatory policies. Despite these hurdles, localized demand for modern construction equipment is rising, driven by population growth, urban migration, and increasing awareness of the productivity and safety benefits offered by flat top tower cranes. Government efforts to streamline construction regulations and incentivize foreign investment are expected to gradually ease market entry barriers, paving the way for steady future growth in these regions.

Report Scope

Nigeria has the largest population in Africa. As of 2025, the country counted over 237.5 million individuals, whereas Ethiopia, which ranked second, has around 135.5 million inhabitants. Egypt registered the largest population in North Africa, reaching nearly 118.4 million people. In terms of inhabitants per square kilometer, Nigeria only ranked seventh, while Mauritius had the highest population density on the whole African continent in 2023. The fastest-growing world region Africa is the second most populous continent in the world, after Asia. Nevertheless, Africa records the highest growth rate worldwide, with figures rising by over two percent every year. In some countries, such as Chad, South Sudan, Somalia, and the Central African Republic, the population increase peaks at over 3.4 percent. With so many births, Africa is also the youngest continent in the world. However, this coincides with a low life expectancy. African cities on the rise The last decades have seen high urbanization rates in Asia, mainly in China and India. African cities are also growing at large rates. Indeed, the continent has three megacities and is expected to add four more by 2050. Furthermore, Africa's fastest-growing cities are forecast to be Bujumbura, in Burundi, and Zinder, Nigeria, by 2035.

Vacuum Circuit Breaker Market Outlook

According to our latest research, the Global Vacuum Circuit Breaker market size was valued at $2.1 billion in 2024 and is projected to reach $3.8 billion by 2033, expanding at a CAGR of 6.5% during 2024–2033. This robust growth trajectory is primarily driven by the increasing demand for reliable and safe power distribution solutions in both developed and developing economies. The rapid urbanization and industrialization worldwide, coupled with the replacement of aging electrical infrastructure, are fueling the adoption of vacuum circuit breakers (VCBs) across multiple end-user segments. Furthermore, the rising emphasis on grid modernization and the integration of renewable energy sources into existing power networks are prompting utilities and industries to invest in technologically advanced circuit protection equipment, thereby propelling the global vacuum circuit breaker market forward.

Regional Outlook

Asia Pacific holds the largest share in the global vacuum circuit breaker market, accounting for over 38% of the total market revenue in 2024. This dominance is attributed to the region’s rapid industrial expansion, significant investments in grid infrastructure, and the ongoing electrification of rural areas. Countries such as China, India, and Japan have been at the forefront due to their large-scale infrastructure projects, government-led electrification initiatives, and increasing energy consumption. The presence of leading manufacturers and a mature supply chain ecosystem further contribute to the region’s strong market position. Additionally, Asia Pacific benefits from favorable regulatory policies and substantial public-private partnerships aimed at modernizing power distribution networks, which collectively reinforce its leadership in the vacuum circuit breaker market.

The Middle East & Africa region is forecasted to be the fastest-growing market, with a projected CAGR of 8.2% during 2024–2033. This accelerated growth is driven by substantial investments in power generation and transmission infrastructure, particularly in the Gulf Cooperation Council (GCC) countries and parts of Sub-Saharan Africa. The region’s focus on diversifying energy sources, expanding urban infrastructure, and integrating smart grid technologies is creating lucrative opportunities for vacuum circuit breaker manufacturers. Additionally, government policies aimed at enhancing energy efficiency and grid reliability, combined with increased foreign direct investment (FDI) in the energy sector, are catalyzing market growth in this region. The ongoing transition towards renewable energy and the need for advanced circuit protection in harsh climatic conditions further underpin the strong growth outlook for the Middle East & Africa.

In emerging economies of Latin America and parts of Southeast Asia, the vacuum circuit breaker market is experiencing steady adoption but faces unique challenges such as limited access to capital, underdeveloped infrastructure, and inconsistent policy enforcement. While these regions offer significant long-term potential due to their growing populations and urbanization rates, the pace of adoption is hindered by budget constraints, lack of technical expertise, and the need for substantial upgrades to aging electrical grids. However, international development agencies and regional governments are increasingly recognizing the importance of modernizing power distribution networks to support economic growth and sustainability goals. As a result, targeted initiatives and pilot projects are beginning to bridge adoption gaps, albeit at a slower rate compared to more mature markets.

Report Scope

As of 2024, Sudan was the North African country with the highest contribution share of the agriculture, forestry, and fishing sector to the gross domestic product (GDP), with this industry constituting around **** percent of the economy. Overall, the agriculture sector plays a vital role within the North African countries, contributing at least **** percent to each national GDP of the region. The only exception was Libya, where agricultural activities only made up *** percent of the GDP, respectively. In Sudan, the contribution of agriculture to GDP dropped sharply between 2021 and 2023, largely due to climate-related challenges and the ongoing conflict between the Sudanese Armed Forces and the Rapid Support Forces since April 2023. However, in 2024, the share rebounded to over ** percent, likely because the war severely weakened the industrial and service sectors, shrinking overall GDP and making agriculture’s relative share appear larger. Additionally, as urban jobs disappeared, many Sudanese turned to rural areas and subsistence farming, boosting informal agricultural activity. Agriculture and Economics Across Africa, agriculture is a core pillar of the economy, representing ** percent of Sub-Saharan Africa’s GDP in 2023, led by Niger and Comoros. In addition to its economic presence, the sector also plays an important role in contributing to the job market. In fact, the number of people employed in agriculture in the continent reached almost *** million in 2023. While Central and Western Africa boasted large shares of the agricultural workforce, North Africa recorded the lowest share of employment in the industry, due to the region’s heavy reliance on industrial and service sectors. Harvest and Land
The primary crops grown in Africa are roots and tubers, along with cereals. In fact, Egypt and Morocco led the North African region in 2023, with the highest amounts of cereals produced. Within the continent, Sudan and South Africa possess the largest agricultural land areas, with around *** million and **** million hectares, respectively. However, Burundi dedicated the largest share of land to growing crops at ** percent, with Rwanda following close behind at ** percent.