Africa's GDP has been steadily increasing over the past decade, with an average growth rate of 3.4%.
The African continent is home to some of the fastest-growing economies in the world, including Ethiopia, Ghana, and Rwanda.
Despite this growth, Africa's GDP per capita is still relatively low compared to other regions, at around $1,900 in 2019.
The COVID-19 pandemic has hit African economies hard, with the World Bank estimating a 2.1% contraction in GDP in 2020.
The African Continental Free Trade Area (AfCFTA) agreement, signed in 2018, aims to boost intra-African trade and promote economic growth across the continent.
Agriculture is a key sector of many African economies, accounting for around 15% of GDP and employing over 60% of the population in some countries.
The extractive industries, including oil, gas, and mining, also play a significant role in some African economies, accounting for up to 80% of exports in some countries.
Foreign investment is crucial to many African economies, with China, the US, and the EU among the largest investors in the continent.
Infrastructure development, including transport, energy, and telecommunications, is a key priority for many African governments and is seen as essential for driving economic growth.
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