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Sub-Saharan economies’ GDP may hit $2.4 trillion in 2023

Christian Fernsby ▼ | November 18, 2019
The Sub-Saharan economies are expected to boom in the next years, with the regional GDP is projected to reach $2.4 trillion by 2023, an analysis from the Dubai Chamber of Commerce and Industry showed, according to the Emirates News Agency (WAM).
African economies   Sub-Sahara
The combined economic growth of the Sub-Saharan region is expected to increase to 8.4% in the next five years.

Topics: Sahara economies GDP

The drivers of the region’s growth include commodity prices, infrastructure investments, increased consumer spending power, a fast-growing population, urban expansion, and improved business confidence.

Nigeria and South Africa are the two biggest economies in terms of growth rate in Sub-Saharan Africa. Both economies accounted for 47% of the regional GDP in 2018.