Economy of East Africa is characterized by diverse sectors, with agriculture playing a pivotal role, employing the majority of the population and contributing significantly to GDP. Key crops include coffee, tea, and horticultural products. East Africa is the fastest growing region in Africa.[1] The region has also seen rapid growth in tourism with Tanzania and Kenya pioneering tourism due to safari parks. Nairobi and Addis Ababa are the main financial hubs in East Africa [2]
Currency | Kenyan Shilling, Ethiopian birr |
---|---|
Statistics | |
Population | 424.26M |
GDP | $548.26B (nominal) $1.584T (PPP) [3] |
GDP growth | 4.8% |
GDP per capita | $1,422 (nominal; 2023 est) $3,271 (PPP;est 2023) [4] |
20.66% (Average) | |
Public finances | |
$856.3B [5] | |
All values, unless otherwise stated, are in US dollars. |
GDP PPP
editGross domestic product
editEthiopia and Kenya boasts the highest GDP in East Africa while the Seychelles and Mauritius has the highest gdp per Capita.The total combined GDP of East Africa Region is $603 billion.
No. | Country and Flag | GDP (in billions USD) |
---|---|---|
1 | Ethiopia | 205.13 |
2 | Kenya | 104.00 |
3 | Tanzania | 79.61 |
4 | Uganda | 56.31 |
5 | Sudan | 26.87 |
6 | Madagascar | 16.47 |
7 | Mauritius | 16.36 |
8 | Rwanda | 13.70 |
9 | Somalia | 12.80 |
10 | South Sudan | 6.52 |
11 | Djibouti | 4.36 |
12 | Burundi | 3.08 |
13 | Seychelles | 2.20 |
14 | Comoros | 1.2 |
15 | Eritrea | No Data |
# | East Africa TOTAL | 603.49 |
Source:[7]
Real GDP growth
editEast Africa is the fastest growing region in Africa Rwanda,Ethiopia, Djibouti boasts some of the fastest Economic growth in the region.
No. | Country and Flag | Real GDP Growth (in billions USD) |
---|---|---|
1 | Rwanda | 6.9 |
2 | Djibouti | 6.5 |
3 | Ethiopia | 6.2 |
4 | South Sudan | 5.6 |
5 | Uganda | 5.6 |
6 | Tanzania | 5.5 |
7 | Kenya | 5.0 |
8 | Mauritius | 4.9 |
9 | Burundi | 4.3 |
10 | Somalia | 3.7 |
11 | Comoros | 3.5 |
12 | Seychelles | 3.2 |
13 | Eritrea | No data |
14 | Sudan | -4.2 |
Source:[8]
Per Capita PPP
editGdp per Capita
editSeychelles and Mauritius are the richest countries in East Africa by per capita, Followed by Djibouti and Kenya respectively.
Government Debt
editNo. | Country | Value |
---|---|---|
1 | Sudan | 280.3 |
2 | Mauritius | 81 |
3 | Kenya | 73 |
4 | Burundi | 72.7 |
5 | Rwanda | 69.9 |
6 | Seychelles | 58.3 |
7 | Djibouti | 56.5 |
8 | Madagascar | 56.1 |
9 | Uganda | 49.7 |
10 | South Sudan, Republic of | 48.3 |
11 | Tanzania | 46.1 |
12 | Comoros | 35.5 |
13 | Ethiopia | 30.5 |
14 | Eritrea | no data |
15 | Somalia | no data |
15 | East Africa | $856.3 |
Economic Hubs of East Africa
editEast Africa is home to several key economic hubs that significantly contribute to the region's overall economic landscape. Below are five major economic centers in East Africa:
Nairobi is the economic powerhouse of East Africa, serving as the region’s primary financial center and hosting major corporations and banks. Its robust infrastructure and growing technology sector significantly contribute to economic activities and innovations across the region.
Addis Ababa plays a vital role in East Africa's economy as a hub for trade and commerce. Its central location and development initiatives make it a key player in fostering economic integration and facilitating investments within the region.
Dar es Salaam is crucial to East Africa’s economy due to its status as the largest port city in Tanzania. It serves as a primary transit point for goods entering and leaving the region, supporting trade and boosting economic growth.
Kampala contributes to East Africa's economy through its vibrant market activities and diverse industries. Its growth in sectors like agriculture, manufacturing, and services enhances regional trade and investment opportunities.
Mombasa is essential to East Africa's economic landscape as a major port city facilitating maritime trade. Its economy is driven by shipping, tourism, and agriculture, significantly impacting trade flows within the East African Community. Its the largest port in East Africa [12]
Inter-Country Trade Unions in East Africa
edit1. Common Market for Eastern and Southern Africa (COMESA) - COMESA is primarily an economic organization that facilitates cooperation among member states, including initiatives that address labor and trade issues. [13]
2. East African Trade Union Confederation (EATUC) - EATUC represents trade unions from East African countries, advocating for workers' rights and promoting regional cooperation.
3. International Trade Union Confederation (ITUC) - ITUC is a global organization that includes many member unions from East Africa and addresses cross-border labor issues [14]
Population
edit# | Country | Population (Millions) |
---|---|---|
1 | Ethiopia | 107.4 |
2 | Tanzania | 65.23 |
3 | Kenya | 52.44 |
4 | Sudan | 49.14 |
5 | Uganda | 46.85 |
6 | Madagascar | 30.59 |
7 | Somalia | 16.5 |
8 | South Sudan | 15.45 |
9 | Rwanda | 13.86 |
10 | Burundi | 13.37 |
11 | Mauritius | 1.26 |
12 | Djibouti | 1.04 |
13 | Comoros | 1.03 |
14 | Seychelles | 0.1 |
Total: | 424.26 |
Inflation rate
editSudan has the worst inflation due to ongoing Civil war ,While South Sudan is due to decline in oil revenues due to factors such as Currency depreciation
References
edit- ^ "Fastest growing region in africa". 2024.
- ^ "Financial hub". 2024.
- ^ "Gdp PPP". 2024.
- ^ "Per Capita PPP". 2024.
- ^ "government debt". 2024.
- ^ "Gdp PPP". 2024.
- ^ "East Africa by gdp". 2024.
- ^ "Real gdp growth". 2024.
- ^ "Per Capita PPP". 2024.
- ^ "East Africa gdp per Capita".
- ^ "government debt". 2024.
- ^ "Mombasa port". 2024.
- ^ "Comesa". 2024.
- ^ "ituc". 2024.
- ^ "East Africa Population". 2024.
- ^ "EA inflation rate".