• The Nigerian naira depreciated by a record-breaking 129.23% in 2024, the highest drop in the last decade.
• From 2015 to 2022, the naira's depreciation was relatively controlled, rarely exceeding 20% year-on-year.
• The exchange rate remained nearly flat from 2017 to 2019, showing signs of stability.
• In 2023, the naira lost over half its value (51.46%), marking the beginning of the current volatility wave.
• The exchange rate crossed the ₦1,000/$ threshold in 2024 for the first time in history.

Key Takeaways:

• Electrical and electronic equipment was China’s top export to Nigeria, valued at $2.88 billion.
• The top five export categories (electrical equipment, machinery, vehicles, plastics, and iron/steel products) together accounted for over $8.78 billion, representing around 44% of total exports.
• Industrial goods such as machinery and steel, along with manufactured consumer goods, dominate China’s export portfolio.
• Products like apparel, synthetic materials, and household items featured strongly among the top export categories.
• In total, China exported goods worth $20.18 billion to Nigeria in 2023.

Key Takeaways:

• In 2023, China imported $1.41 billion worth of mineral fuels and oils from Nigeria, making it the leading import category.
• The top three import categories (mineral fuels, ores, and salt/earth materials) together made up nearly 89% of the total import value.
• Nigeria’s exports to China are largely raw materials and natural resources, with minimal contribution from manufactured goods.
• The top ten product categories accounted for almost 99% of China’s total imports from Nigeria.
• Agricultural and animal products such as oil seeds, raw hides, and spices also formed part of Nigeria’s export portfolio.
• China’s total imports from Nigeria were valued at $2.37 billion in 2023.

Key Takeaways:

• In 2023, China’s exports to Nigeria totaled $20.18 billion, while imports from Nigeria reached only $2.37 billion.
• China’s trade surplus with Nigeria amounted to approximately $17.8 billion.
• Chinese exports accounted for 89.5% of the total bilateral trade, with Nigerian exports making up just 10.5%.
• The trade imbalance underscores Nigeria’s strong dependence on Chinese goods and industrial inputs.
• For every $1 Nigeria exports to China, it imports $8.50 worth of Chinese products.

• Somalia’s currency has depreciated by 26.4% between 2015 and 2024.
• The sharpest yearly depreciation was in 2019, at 4.64%.
• From 2020 to 2021, the SOS saw its smallest year-on-year shift at 1.08%.
• Despite fluctuations, every year from 2015 to 2024 recorded a net increase in SOS per US$.
• 2017 recorded near-stable currency performance with just a 0.16% change from the previous year.

Key Takeaways:

• Africa's gold production grew steadily from 621.78 tonnes in 2010 to 1,003.98 tonnes in 2023.
• The continent experienced an overall increase of 61.5% in gold output over the 14 years.
• The continent saw consistent year-on-year growth, with only minor declines in 2020 and 2022.
• 2023 marked the highest production level in more than a decade.
• The average annual growth rate in gold mine production over the period was approximately 4%.

Key Takeaways:

• Global gold production rose from 2,830.80 tonnes in 2010 to 3,646.07 tonnes in 2023.
• The most significant year-over-year growth occurred between 2012 and 2013, with an increase of over 178 tonnes.
• A temporary decline in production was recorded in 2019 and 2020, reflecting pandemic-related disruptions.
• Production recovered quickly post-pandemic, reaching a record 3,646.07 tonnes by 2023.
• Over the last fourteen years, gold mine output grew at an average annual rate of approximately 2%.
• Growth from 2021 to 2023 was more moderate compared to earlier years.

• Tunisia held the top spot with the strongest African currency, trading at 3.11 TND per USD in 2024.
• Libya followed as the second-strongest, with an exchange rate of 4.83 LYD per USD.
• Morocco maintained a strong regional position, with its dirham trading at 9.94 MAD per USD.
• Botswana’s pula was relatively stable, exchanging at 13.56 per USD, highlighting Southern Africa’s economic steadiness.
• Ghana and Seychelles had closely matched exchange rates, trading at 14.48 and 14.53 to the dollar, respectively.
• South Africa, Lesotho, Namibia, and Eswatini all shared almost identical exchange rates of around 18.32–18.33 per USD, showing tight regional monetary coordination.

• Eastern Africa is the continent's fastest-growing region in 2024 with a GDP growth rate of 5.39%, but it also faces the highest inflation at 17.76%.
• Southern Africa has the lowest inflation (3.48%) but also the highest unemployment by far, at 28.64%.
• Western Africa combines growth (3.57%) with low unemployment (4.53%), positioning it as a relatively stable economic zone.
• Central Africa and Northern Africa both lag in GDP growth, at 1.40% and 2.90% respectively, with Central Africa also experiencing moderate inflation and interest rates.
• Interest rates are highest in Western (10.84%) and Eastern Africa (10.12%), reflecting tighter monetary policies likely aimed at controlling inflation.
• Northern Africa’s 11.15% unemployment rate suggests underlying labour market issues despite moderate inflation and interest rates.
• Southern Africa's low interest rate (6.29%) hasn't translated into job creation, indicating that monetary easing alone isn't resolving unemployment challenges.

• Chat and Messaging apps lead globally, engaging 94.5% of internet users as of Q3 2024.
• Social Networks follow closely behind at 94.4%, nearly matching messaging apps in global user engagement.
• Search Engines and Web Portals still see high use, engaging 82.3% of users.
• Email services remain highly relevant, used by 75% of internet users globally.
• Shopping, Auctions, and Classifieds apps are also prominent, used by 74.9% of users.
• Location-based services like maps and ride-sharing apps engage 55.3%, indicating a strong but more practical use case.
• Games remain a niche category, with only 32.6% of users engaging with gaming apps compared to much higher engagement with communication or shopping platforms.

Key takeaways:

• The United States holds the largest national gold reserves in 2024, totalling 8,133.46 tonnes.
• Western European countries in the top ten list collectively hold 9,892.76 tonnes of gold reserves.
• China, India, and Japan are the only Asian countries in the top 10, together holding 4,001.71 tonnes.
• The Russian Federation is the leading gold reserve holder in Central and Eastern Europe, with 2,332.74 tonnes.
• All countries in the top ten list maintain at least 600 tonnes of gold reserves.
• The total gold reserve held by the top ten countries amounted to 24,360.67 tonnes.

Key takeaways:

• China leads all nations with total reserves of $3.46 trillion while holding 5.53% of its share in gold reserves.
• The top 15 countries collectively hold a total reserve of $10.78 trillion.
• Despite being the global leader in gold reserves, the United States ranks third in total reserves.
• The largest share of the United States' total reserves is from its gold reserve holdings of 74.97%.
• Countries in the top fifteen list hold at least $236.9 billion each in total reserves.
• The United States, France, and Italy have more than 70% of their total reserve holdings in gold.