Over the past six decades, African economies have experienced both rapid growth and severe contractions.
Nigeria and South Africa, often considered the continent’s economic heavyweights, have consistently ranked among Africa's top three economies since 1960.
North African Libya, Algeria and Egypt have also been in the top three in the period.
As of 2023, Egypt led the continent's GDP rankings.
According to 2022 and 2023 data for 40 African countries, Egypt leads in the value of manufacturing output reaching $59.6 billion in 2023 despite a 21% drop from 2022.
Nigeria follows with $55.7 billion, while South Africa comes third with $48.8 billion.
In 2023, South Africa led Africa's exports with a value of $110.7 billion, nearly double Nigeria's $60.7 billion. Key exports include gems, vehicles, and mineral fuels.
The top 15 African exporters contribute 84% to the continent's trade, with South Africa, Nigeria, Algeria, Morocco, and Egypt leading with a combined 52%.
WhatsApp Business generated an estimated $39.5 million from Africa in 2023, representing 10.3% of its global revenue.
Estimates from Statista show that Asia was the leading contributor to WhatsApp Business' revenue, with $155.2 million.
Here is a breakdown of WhatsApp Business' revenue by region in 2023.
About 28,844 TWh of electricity was generated globally in 2022. Driven by industrial growth and large populations in countries like China and India, Asian countries collectively accounted for 56%. North America and Europe followed, with 5,432 TWh and 4,731 TWh, respectively.
Africa generated less than 900 TWh, with key contributions from South Africa and Egypt. Oceania, primarily led by Australia, produced 330 TWh.
Senegal's cancellation of its experiment with an eCFA in 2016 makes Nigeria's eNaira the only active Central Bank Digital Currency (CBDC) in Africa. Half of the countries in Africa are currently not doing anything about CBDC, while a larger share of the other half is currently in the research phase.
As of 2021, there were 400 fully electric vehicles sold in Africa, which is expected to reach 2,200 by 2027. By 2027, Africa will only account for approximately 0.02% of fully electric vehicles sold worldwide.
Global sales of electric vehicles are projected to hit 13.33 million by 2027, up from 4.6 million in 2021, indicating a significant increase in the shift from petroleum product-powered vehicles to electronic ones.
Nigeria was the seventh most populous nation in the world in 2020, with 206.1 million people. Projected to reach a population of 401.3 million by 2050, Nigeria will rank third after India (1st) and China (2nd). According to Institut national d'études démographiques' projections, Nigeria, Ethiopia, DR Congo, Egypt, Tanzania, and Kenya will be among the world’s top 20 most populous countries by 2050.
Nigeria remained the top African country for students in the U.S., with 20,029 students enrolled in the 2023/2024 academic year, marking a 13.5% increase from the previous year.
Ghana saw the highest growth rate among African nations, with a 45% increase in students, totaling 9,394 in the U.S. during the 2023/2024 academic year.
These countries collectively contributed significantly, with 4,507 (Kenya), 3,078 (Ethiopia), and 2,814 (South Africa) students studying in the U.S. during 2023/2024.
Sub-Saharan Africa was the fastest-growing region for international student mobility to the U.S., experiencing a 13% overall increase in the 2023/2024 academic year.
In the 2020/2021 academic year, Nigeria had 12,900 students, Ghana had 4,200, and Kenya had 3,500 students enrolled in U.S. institutions.
There were 90 Internet and social media disruptions across Africa between 2017 and 2021. The year 2019 had the highest disruptions with 25 across 16 countries.
