economies

The recently unveiled 2024 Africa Trade Report has provided compelling insights into the evolving trade landscape during the 32nd Afreximbank Annual Meetings held in Abuja, Nigeria. It's fascinating to see such a deep dive into data that not only tracks economic progress but also reflects a broader narrative about Africa's potential. This year, the report indicates a slight uptick in trade figures compared to 2023, which is a step in the right direction for the continent. It encompasses both exports and imports…

One of the primary indicators used to assess the vitality of a country's economy is the gross domestic product (GDP). At its core, GDP encapsulates the total value of all goods and services produced within a nation over a specified period, typically a year. While seemingly straightforward, this figure carries profound implications, reflecting not only economic activity but also the overall well-being of a country's inhabitants. Throughout history, certain industries have emerged as the backbone of economic…

In the face of various challenges, such as fluctuating global economic conditions, inflation, and disruptions in trade, it's inspiring to note that several African nations are poised for a remarkable upswing in their real GDP growth by 2025. This resilience speaks volumes about the inherent potential within these countries. So, what factors are contributing to this positive outlook? First and foremost, the acceleration in economic growth does more than just ripple through local markets; it builds an…

When we delve into the economic health of a nation, one term invariably rises to the top of the conversation: Gross Domestic Product, or GDP. This seemingly simple acronym encompasses a wealth of information about a country’s financial landscape. At its core, GDP represents the total value of all goods and services produced within a country over the span of a year. Imagine it as the price tag that reflects the sheer scale of a nation’s economic prowess. It’s akin to looking at the collective effort—the hard work,…

Shifting Tides: The Future of the Global Economy "Economic growth is not just the engine of prosperity but the key to a better future," said renowned economist Timothy Horn. As we peer into the crystal ball of future global economies, the reflections are nothing short of transformative. Goldman Sachs has released projections that might stir some deep-seated thoughts about our place in this evolving tapestry. We see countries like China and India preparing to take the lead, eclipsing established giants like the United…

Exploring the Economic Terrain of Emerging Nations: A 2025 Forecast Nowadays, many countries are tethered to the performance of their oil, natural resources, and commodities sectors. This dependency shapes their economic stories, making them acutely susceptible to global market nudges and nuances. It's a careful dance, balancing opportunity and risk. Picture this: South Sudan and Libya navigating the tumultuous waters of political instability alongside infrastructure bottlenecks. However, there's a sprinkle of optimism…

Nigeria Leads in Decline of Cash Transactions Consider for a moment, the bustling streets of Lagos where once the chime of cash registers dominated the soundscape, has now become a haven for digital transactions. How did we arrive at such a transformation? The answer lies in an intriguing report—WorldPay's Global Payments Report 2025 reveals Nigeria is at the forefront of this shift, recording the largest decline in cash usage among major global economies. Think back only a decade ago when…

Edited By Ali Musa Axadle Times International–Monitoring. In a world where the pulse of economies sets the pace for global progress, the IMD World Competitiveness Ranking illuminates the forefront contenders. Currently, the global economic stage is dominated by several nations renowned for their robust competitiveness. Yet, what exactly makes an economy competitive on the world stage? Is it solely about GDP numbers, or is there more beneath the surface? The most competitive economies in the world are distinguished by…

Understanding Purchasing Power in African Nations It's a familiar story across many African countries: the struggle with low purchasing power arises from a web of complex issues. High levels of poverty overshadow progress, industrialization limps along, political landscapes ebb and flow, and access to the global market remains a great hope yet seen on the horizon. Let's consider Numbeo’s Purchasing Power Index, a useful compass in assessing where nations stand. This index breaks down…

Africa, a continent often painted with broad strokes of opportunity and challenge, is crafting a narrative of rapid economic ascendancy. Recent projections from the African Development Bank (AfDB) suggest that by 2025, several African nations will be climbing the ranks of global economic performance. This development promises to reshape not only the face of Africa but potentially shift some global economic dynamics as well. The momentum stems from targeted policies…