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1、Economy of Africa1. The impression of Africa aWhen someone talks about Africa, poverty will firstly appear in our mind.Of course, Africa is the worlds second-largest and second-most-populous continent, after Asia. With 1.0 billion people, it accounts for about 14.72% of the worlds human population.
2、Africa remains the worlds poorest and most underdeveloped continent. And its total GDP is 1702 billion dollars accounting for 2.7% of the total world economy in 2010.According to the United Nations Human Development Report in 2011, in the bottom 46 ranked nations (142st to 187th) ,there were 35 Afri
3、can countries and we know there were only 54 African countries.Published on 4 November 2010 (and updated on 10 June 2011), starting with the 2011 Human Development Report the HDI combines three dimensions: A long and healthy life: Life expectancy at birth Education index: Mean years of schooling and
4、 Expected years of schooling A decent standard of living: GNI per capita (PPP US$)Poverty, illiteracy, malnutrition and inadequate water supply and sanitation, as well as poor health, affect a large proportion of the people who reside in the African continent. In August 2008, the World Bank announce
5、d revised global poverty estimates based on a new international poverty line of $1.25 per day (versus the previous measure of $1.00). 80.5% of the Sub-Saharan Africa population was living on less than $2.50 (PPP) a day in 2005.While no African nation has joined the ranks of the developed nations in
6、the Organization for Economic Co-operation and Development (OECD) yet, the entire continent is not utterly impoverished and there is considerable variation in its wealth. North Africa has long been closely linked to the economies of Europe and the Middle East. South Africa is by far the continents w
7、ealthiest state in total GDP, accounting for 30% of the continents GDP in nominal terms and 24% by PPP (Purchasing Power Parity). The small but oil-rich states of Gabon and Equatorial Guinea round out the list of the ten wealthiest states in Africa.African states by GDP per capita in 2002. Numbers i
8、n USD and from the World Bank. And this is just the 2002 data. Based on International Monetary Fund, World Economic Outlook Database, September 2011: GDP per capita for Equatorial Guinea(赤道几内亚) reaches 14374.424 US dollars, and What the meaning of this number?That means 2.7 times for Chinese GDP per
9、 capita.So here are some pictures 南非 鳞次栉比的摩天大楼 尼日利亚石油园区Like Chinese Shang Hai2. The impression of Africa bAfrica has abundant natural resources. For example the continent is believed to hold 90% of the worlds cobalt(钴), 90% of its platinum（铂）, 50% of its gold, 98% of its chromium（铬）, 70% of its tant
10、alite（钽铁矿）, 64% of its manganese（锰） and one-third of its uranium（铀）. The Democratic Republic of the Congo (DRC) has 70% of the worlds coltan（钶钽铁矿）, and most mobile phones in the world are made with elements refined from this mineral. The DRC also has more than 30% of the worlds diamond reserves. Gui
11、nea is the worlds largest exporter of bauxite（矾土）. In addition Africa holds 11% of the worlds petroleum.3. Based on the impression we could introduce Africa economic sectors and industriesAgricultureAround 60 percent of African workers are employed by the agricultural sectors, with about three-fifth
12、s of African farmers being subsistence farmers. Subsistence farms provide a source of food and a relatively small income for the family, but generally fail to produce enough to make re-investment possible. Larger farms tend to grow cash crops such as coffee, cotton, cocoa, and rubber. These farms, n
13、ormally operated by large corporations, cover tens of square kilometers and employ large numbers of laborers. The situation whereby African nations export crops to the West while millions on the continent starve has been blamed on developed countries including Japan, the European Union and the Unite
14、d States. These countries protect their own agricultural sectors with high import tariffs and offer subsidies to their farmers, which many contend leads the overproduction of such commodities as grain, cotton and milk. The result of this is that the global price of such products is continually reduc
15、ed until Africans are unable to compete, except for cash crops that do not grow easily in a northern climate.Mining and drillingAfricas most valuable exports are minerals and petroleum. A few countries possess and export the vast majority of these resources. The southern nations have large reserves
16、of gold, diamonds, and copper. Petroleum is concentrated in Nigeria, Angola, its neighbors, and Libya. While mining and drilling produce most of Africas revenues each year, these industries only employ about two million people, a tiny fraction of the continents population. Profits normally go either to large corporations or to the governments. Both have been known to squander this money on luxuries for the elite or on mega-projects that
