Economy of East Africa
| Currency | Kenyan Shilling, Ethiopian birr |
|---|---|
| Statistics | |
| Population | 404,263,089 |
| GDP | Decrease $503.57B (nominal) Increase $1.589T (PPP)[1] |
GDP growth | 4.8% |
GDP per capita | Decrease $1,153 (Nominal) Increase $3,930 (PPP)[2] |
| ▲ 27.07% (Average) | |
| Public finances | |
| ▲ 27.07% (Average) $341.68B[3] | |
All values, unless otherwise stated, are in US dollars. | |
The 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.[4] 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.[5] Ethiopia and Kenya account for 55% of East Africa's GDP. East Africa accounts for 18% of Africa's GDP.
GDP PPP
GDP Purchasing Power Parity
Ethiopia and Kenya boast the highest GDP PPP in East Africa and boasts 46% of East African economy.[1]
| No. | Country | GDP (PPP) |
|---|---|---|
| 1 | File:Flag of Ethiopia.svg Ethiopia | 434.44 |
| 2 | File:Flag of Kenya.svg Kenya | 375.36 |
| 3 | File:Flag of Tanzania.svg Tanzania | 269.67 |
| 4 | File:Flag of Uganda.svg Uganda | 170.61 |
| 5 | File:Flag of Sudan.svg Sudan | 123.48 |
| 6 | File:Flag of Madagascar.svg Madagascar | 60.88 |
| 7 | File:Flag of Rwanda.svg Rwanda | 51.92 |
| 8 | File:Flag of Mauritius.svg Mauritius | 40.43 |
| 9 | File:Flag of Somalia.svg Somalia | 30.43 |
| 10 | File:Flag of Burundi.svg Burundi | 13.17 |
| 11 | File:Flag of South Sudan.svg South Sudan | 11.79 |
| 12 | File:Flag of Seychelles.svg Seychelles | 4.14 |
| 13 | File:Flag of Comoros.svg Comoros | 3.44 |
| 14 | Total | 1,589.86 |
| 15 | Eritrea | No data |
Gross domestic product
Ethiopia 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 is $603 billion.[6]
| No. | Country | GDP (PPP) (USD 'billions) |
|---|---|---|
| 1 | File:Flag of Ethiopia.svg Ethiopia | 145.03 |
| 2 | File:Flag of Kenya.svg Kenya | 116.32 |
| 3 | File:Flag of Tanzania.svg Tanzania | 79.87 |
| 4 | File:Flag of Uganda.svg Uganda | 55.59 |
| 5 | File:Flag of Sudan.svg Sudan | 29.79 |
| 6 | File:Flag of Madagascar.svg Madagascar | 17.21 |
| 7 | File:Flag of Mauritius.svg Mauritius | 15.89 |
| 8 | File:Flag of Rwanda.svg Rwanda | 13.66 |
| 9 | File:Flag of Somalia.svg Somalia | 12.73 |
| 10 | File:Flag of South Sudan.svg South Sudan | 5.27 |
| 11 | File:Flag of Djibouti.svg Djibouti | 4.33 |
| 12 | File:Flag of Burundi.svg Burundi | 4.29 |
| 13 | File:Flag of Seychelles.svg Seychelles | 2.14 |
| 14 | File:Flag of Comoros.svg Comoros | 1.45 |
| 15 | Total | 503B |
| 16 | Eritrea | No data |
Real GDP growth
East Africa is the fastest growing region in Africa. Rwanda, Ethiopia, Djibouti boast some of the fastest economic growth in the region.[7]
| No. | Country and Flag | Real GDP Growth (in billions USD) |
|---|---|---|
| 1 | File:Flag of Rwanda.svg Rwanda | 6.9 |
| 2 | File:Flag of Djibouti.svg Djibouti | 6.5 |
| 3 | File:Flag of Ethiopia.svg Ethiopia | 6.2 |
| 4 | File:Flag of South Sudan.svg South Sudan | 5.6 |
| 5 | File:Flag of Uganda.svg Uganda | 5.6 |
| 6 | File:Flag of Tanzania.svg Tanzania | 5.5 |
| 7 | File:Flag of Kenya.svg Kenya | 5.0 |
| 8 | File:Flag of Mauritius.svg Mauritius | 4.9 |
| 9 | File:Flag of Burundi.svg Burundi | 4.3 |
| 10 | File:Flag of Somalia.svg Somalia | 3.7 |
| 11 | File:Flag of Comoros.svg Comoros | 3.5 |
| 12 | File:Flag of Seychelles.svg Seychelles | 3.2 |
| 13 | File:Flag of Eritrea.svg Eritrea | No data |
| 14 | File:Flag of Sudan.svg Sudan | -4.2 |
Per Capita PPP
| No. | Country | Per Capita (USD) |
|---|---|---|
| 1 | File:Flag of Seychelles.svg Seychelles | 41,080 |
| 2 | File:Flag of Mauritius.svg Mauritius | 32,060 |
| 3 | File:Flag of Djibouti.svg Djibouti | 8,600 |
| 4 | File:Flag of Kenya.svg Kenya | 7,160 |
| 5 | File:Flag of Tanzania.svg Tanzania | 4,130 |
| 6 | File:Flag of Ethiopia.svg Ethiopia | 4,050 |
| 7 | File:Flag of Comoros.svg Comoros | 3,860 |
| 8 | File:Flag of Rwanda.svg Rwanda | 3,750 |
| 9 | File:Flag of Uganda.svg Uganda | 3,640 |
| 10 | File:Flag of Sudan.svg Sudan | 2,510 |
| 11 | File:Flag of Madagascar.svg Madagascar | 1,990 |
| 12 | File:Flag of Somalia.svg Somalia | 1,840 |
| 13 | File:Flag of Burundi.svg Burundi | 986 |
| 14 | File:Flag of South Sudan.svg South Sudan Republic of | 763 |
| 15 | Average | 3,930 |
GDP per Capita
Seychelles and Mauritius are the richest countries in East Africa by per capita, followed by Djibouti and Kenya respectively. Burundi and South Sudan are the poorest in East Africa and in the world also. Only 6 of the 14 countries have a GDP per Capita less than $1,000.[8]
| No. | Country | GDP Per Capita (in USD) |
|---|---|---|
| 1 | File:Flag of Seychelles.svg Seychelles | 21,290.00 |
| 2 | File:Flag of Mauritius.svg Mauritius | 12,600.00 |
| 3 | File:Flag of Djibouti.svg Djibouti | 4,150.00 |
| 4 | File:Flag of Kenya.svg Kenya | 2,220.00 |
| 5 | File:Flag of Comoros.svg Comoros | 1,630.00 |
| 6 | File:Flag of Ethiopia.svg Ethiopia | 1,350.00 |
| 7 | File:Flag of Tanzania.svg Tanzania | 1,220.00 |
| 8 | File:Flag of Uganda.svg Uganda | 1,190.00 |
| 9 | File:Flag of Rwanda.svg Rwanda | 985.99 |
| 10 | File:Flag of Somalia.svg Somalia | 771.45 |
| 11 | File:Flag of Sudan.svg Sudan | 606.29 |
| 12 | File:Flag of Madagascar.svg Madagascar | 562.59 |
| 13 | File:Flag of South Sudan.svg South Sudan | 340.99 |
| 14 | File:Flag of Burundi.svg Burundi | 320.64 |
| Total | 1,157 | |
Government Debt
Nearly all East African countries have government debt to GDP percentage of more than 50%. Sudan has the highest (344%), 4 times larger than the following second country. This is due to the ongoing civil war.[3]
| No. | Country | Debt to GDP (%) |
|---|---|---|
| 1 | File:Flag of Sudan.svg Sudan | 344.4 |
| 2 | File:Flag of Mauritius.svg Mauritius | 80.1 |
| 3 | File:Flag of Kenya.svg Kenya | 69.9 |
| 4 | File:Flag of Burundi.svg Burundi | 86.8 |
| 5 | File:Flag of Rwanda.svg Rwanda | 71.4 |
| 6 | File:Flag of Seychelles.svg Seychelles | 58.4 |
| 7 | File:Flag of Djibouti.svg Djibouti | 32.7 |
| 8 | File:Flag of Madagascar.svg Madagascar | 55.5 |
| 9 | File:Flag of Uganda.svg Uganda | 51.4 |
| 10 | File:Flag of South Sudan.svg South Sudan, Republic of | 56.9 |
| 11 | File:Flag of Tanzania.svg Tanzania | 47.3 |
| 12 | File:Flag of Comoros.svg Comoros | 34.9 |
| 13 | File:Flag of Ethiopia.svg Ethiopia | 33.6 |
| 14 | File:Flag of Eritrea.svg Eritrea | no data |
| 15 | File:Flag of Somalia.svg Somalia | no data |
| 15 | East Africa | 69.00 |
Current Account Balance
Djibouti and South Sudan have the highest account balance, while Kenya and Ethiopia have the least account balance.[9]
| # | Country | Account Balance |
|---|---|---|
| 1 | File:Flag of Djibouti.svg Djibouti | 0.344 |
| 2 | File:Flag of South Sudan.svg South Sudan, Republic of | 0.259 |
| 3 | File:Flag of Comoros.svg Comoros | -0.082 |
| 4 | File:Flag of Seychelles.svg Seychelles | -0.815 |
| 5 | File:Flag of Mauritius.svg Mauritius | -0.96 |
| 6 | File:Flag of Burundi.svg Burundi | -0.539 |
| 7 | File:Flag of Madagascar.svg Madagascar | -1.046 |
| 8 | File:Flag of Rwanda.svg Rwanda | -1.443 |
| 9 | File:Flag of Somalia.svg Somalia | -1.828 |
| 10 | File:Flag of Tanzania.svg Tanzania | -2.74 |
| 11 | File:Flag of Sudan.svg Sudan | -3.125 |
| 12 | File:Flag of Uganda.svg Uganda | -3.616 |
| 13 | File:Flag of Kenya.svg Kenya | -5.584 |
| 14 | File:Flag of Ethiopia.svg Ethiopia | -5.247 |
| 15 | Eritrea | no data |
Economic hubs of East Africa
East 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, Kenya
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, Ethiopia
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, Tanzania
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, Uganda
Kampala contributes to East Africa's economy through its vibrant market activities and diverse industries. Its growth in sectors like agriculture, manufacturing, and service industries enhances regional trade and investment opportunities.
Mombasa, Kenya
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. It has the largest port in East Africa.[10]
Population
| # | Country | Population (Millions)[11] |
|---|---|---|
| 1 | File:Flag of Ethiopia.svg Ethiopia | 107.4 |
| 2 | File:Flag of Tanzania.svg Tanzania | 65.23 |
| 3 | File:Flag of Kenya.svg Kenya | 52.44 |
| 4 | File:Flag of Sudan.svg Sudan | 49.14 |
| 5 | File:Flag of Uganda.svg Uganda | 46.85 |
| 6 | File:Flag of Madagascar.svg Madagascar | 30.59 |
| 7 | File:Flag of Somalia.svg Somalia | 16.5 |
| 8 | File:Flag of South Sudan.svg South Sudan | 15.45 |
| 9 | File:Flag of Rwanda.svg Rwanda | 13.86 |
| 10 | File:Flag of Burundi.svg Burundi | 13.37 |
| 11 | File:Flag of Mauritius.svg Mauritius | 1.26 |
| 12 | File:Flag of Djibouti.svg Djibouti | 1.04 |
| 13 | File:Flag of Comoros.svg Comoros | 1.03 |
| 14 | File:Flag of Seychelles.svg Seychelles | 0.1 |
| # | East Africa | 424.26 |
Inflation rate
Sudan 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. Although most countries in East Africa are recovering from inflation, Sudan and South Sudan are having hyperinflation.[12]
| No. | Country | Oct Inflation Data | April Inflation Data |
|---|---|---|---|
| 1 | File:Flag of Sudan.svg Sudan | ▲ 200.1 | 145.5 |
| 2 | File:Flag of South Sudan.svg South Sudan, Republic of | ▲ 120.6 | 54.8 |
| 3 | File:Flag of Ethiopia.svg Ethiopia | ▼ 23.9 | 25.6 |
| 4 | File:Flag of Burundi.svg Burundi | ▼ 20 | 22 |
| 5 | File:Flag of Madagascar.svg Madagascar | ▼ 7.4 | 7.8 |
| 6 | File:Flag of Kenya.svg Kenya | ▼ 5.1 | 6.6 |
| 7 | File:Flag of Rwanda.svg Rwanda | ▼ 4.9 | 5.8 |
| 8 | File:Flag of Mauritius.svg Mauritius | ▼ 3.5 | 4.9 |
| 9 | File:Flag of Somalia.svg Somalia | ▲ 5 | 4.8 |
| 10 | File:Flag of Tanzania.svg Tanzania | ▼ 3.2 | 4 |
| 11 | File:Flag of Uganda.svg Uganda | ▼ 3.5 | 3.8 |
| 12 | File:Flag of Comoros.svg Comoros | ▲ 4 | 2 |
| 13 | File:Flag of Djibouti.svg Djibouti | ▼ 1.4 | 1.8 |
| 14 | File:Flag of Seychelles.svg Seychelles | ▲ 0.8 | -0.2 |
| 15 | Average | ▲ 27.07 | 20.66 |
Inter-country trade unions in East Africa
- 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]
- East African Trade Union Confederation (EATUC) - EATUC represents trade unions from East African countries, advocating for workers' rights and promoting regional cooperation.
- International Trade Union Confederation (ITUC) - ITUC is a global organization that includes many member unions from East Africa and addresses cross-border labor issues.[13]
References
- ↑ 1.0 1.1 "Gdp PPP". 2024.
- ↑ 2.0 2.1 "Per Capita PPP". 2024.
- ↑ 3.0 3.1 "government debt". 2024.
- ↑ "Fastest growing region in africa". 2024.
- ↑ "Financial hub". 2024.
- ↑ "East Africa by gdp". 2024.
- ↑ "Real gdp growth". 2024.
- ↑ "East Africa gdp per Capita".
- ↑ "Account Balance". 2024.
- ↑ "Mombasa port". 2024.
- ↑ "East Africa Population". 2024.
- ↑ "EA inflation rate".
- ↑ 13.0 13.1 "Comesa". 2024.