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Mobutu & Co. destroyed Africa's giant the DRC
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Swenani
#21 Posted : Saturday, October 11, 2014 2:50:11 PM
Rank: User

Joined: 8/15/2013
Posts: 13,237
Location: Vacuum
shocks wrote:
Swenani wrote:
innairobi wrote:
Swenani wrote:
2012 wrote:
innairobi wrote:
The year is 1993. The largest economies in Africa by Nominal GDP are as follows:

1.South Africa - $130.448 billion
2.Algeria - $50.963 billion
3.DR Congo - $47.45 billion
4.Egypt - $47.101 billion
5.Libya - $30.921 billion
6.Morocco - $30.138 billion
7.Nigeria - $16.965 billion
8.Tunisia - 15.945 billion
9.Cameroon - $13.492 billion
10.Cote d'Ivoire - $11.364 billion
11.Ethiopia - $8.974 billion
12.Kenya - $8.92 billion

30 years later in 2012, DRC's GDP has dropped to 16th largest on the continent at $27.483B while Algeria and Egypt are at $208B and $262B respectively

Source IMF


Could you also put the most current ranking to compare...


2013 world bank figures
1.Nigera-$ 521.8Billion
2.SA-$ 380.63 Billion
3.Egypt-$ 271.9 Billion
4.Algeria-$210.18 Billion
5.Morocco-$ 104.374 Billion
6.Libya-$75.486 Billion
7.Tunisia- $47.129 Billion
8.Ethiopia- $46.8 Billion
9.Kneya-$ 44.107 Billion
10.Cote D'ivore-$ 30.9 Billion
11. DRC-$30.629
12.Cameroon-$ 29.275


Latest IMF estimates for 2014 released this month. DRC 15th. Kenya catching up with Sudan which is suffering from sanctions. Libya messed up by renewed conflict. Ghana battered by fall in Cedi. Slow South Africa expected to be overtaken by Egypt in 2017 thereby dropping to 3rd largest economy on the continent.

1.Nigeria $594.257 B
2.South Africa $341.216 B
3.Egypt $284.860 B
4.Algeria $227.802 B
5.Angola $131.407 B
6.Morocco $112.552 B
7.Sudan $70.030 B
8.Kenya $62.722 B
9.Ethiopia $49.857 B
10.Libya $49.341 B
11.Tunisia $49.122 B
12.Tanzania $36.620 B
13.Ghana $35.475 B
14.Ivory Coast $33.963 B
15.DRC $32.665 B


Please weka rink,I doubt those figures not you!

kwani the economy of S.A is shrinking?



The figures are right as quoted lakini its the calculation thats puzzling. Take for instance the banking industry; in S.A the biggest bank has assets of 162 billion $ and the three that follow have assets upwards of 70 billion $. In Nigeria, the biggest bank assets of 23 billion $ begging the question whether the Nigerian GDPs cash is saved in mattress a/c.


Wrong understanding of GDP
If Obiero did it, Who Am I?
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shocks
#22 Posted : Saturday, October 11, 2014 3:05:12 PM
Rank: Member

Joined: 3/15/2009
Posts: 362
Swenani wrote:
shocks wrote:
Swenani wrote:
innairobi wrote:
Swenani wrote:
2012 wrote:
innairobi wrote:
The year is 1993. The largest economies in Africa by Nominal GDP are as follows:

1.South Africa - $130.448 billion
2.Algeria - $50.963 billion
3.DR Congo - $47.45 billion
4.Egypt - $47.101 billion
5.Libya - $30.921 billion
6.Morocco - $30.138 billion
7.Nigeria - $16.965 billion
8.Tunisia - 15.945 billion
9.Cameroon - $13.492 billion
10.Cote d'Ivoire - $11.364 billion
11.Ethiopia - $8.974 billion
12.Kenya - $8.92 billion

30 years later in 2012, DRC's GDP has dropped to 16th largest on the continent at $27.483B while Algeria and Egypt are at $208B and $262B respectively

Source IMF


Could you also put the most current ranking to compare...


2013 world bank figures
1.Nigera-$ 521.8Billion
2.SA-$ 380.63 Billion
3.Egypt-$ 271.9 Billion
4.Algeria-$210.18 Billion
5.Morocco-$ 104.374 Billion
6.Libya-$75.486 Billion
7.Tunisia- $47.129 Billion
8.Ethiopia- $46.8 Billion
9.Kneya-$ 44.107 Billion
10.Cote D'ivore-$ 30.9 Billion
11. DRC-$30.629
12.Cameroon-$ 29.275


Latest IMF estimates for 2014 released this month. DRC 15th. Kenya catching up with Sudan which is suffering from sanctions. Libya messed up by renewed conflict. Ghana battered by fall in Cedi. Slow South Africa expected to be overtaken by Egypt in 2017 thereby dropping to 3rd largest economy on the continent.

1.Nigeria $594.257 B
2.South Africa $341.216 B
3.Egypt $284.860 B
4.Algeria $227.802 B
5.Angola $131.407 B
6.Morocco $112.552 B
7.Sudan $70.030 B
8.Kenya $62.722 B
9.Ethiopia $49.857 B
10.Libya $49.341 B
11.Tunisia $49.122 B
12.Tanzania $36.620 B
13.Ghana $35.475 B
14.Ivory Coast $33.963 B
15.DRC $32.665 B


Please weka rink,I doubt those figures not you!

kwani the economy of S.A is shrinking?



The figures are right as quoted lakini its the calculation thats puzzling. Take for instance the banking industry; in S.A the biggest bank has assets of 162 billion $ and the three that follow have assets upwards of 70 billion $. In Nigeria, the biggest bank assets of 23 billion $ begging the question whether the Nigerian GDPs cash is saved in mattress a/c.


Wrong understanding of GDP


I won't pretend to be an economist, so yes I don't understand GDP that much, do you have a good explanation of the disparity
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Swenani
#23 Posted : Saturday, October 11, 2014 3:52:25 PM
Rank: User

Joined: 8/15/2013
Posts: 13,237
Location: Vacuum
shocks wrote:
Swenani wrote:
shocks wrote:
Swenani wrote:
innairobi wrote:
Swenani wrote:
2012 wrote:
innairobi wrote:
The year is 1993. The largest economies in Africa by Nominal GDP are as follows:

1.South Africa - $130.448 billion
2.Algeria - $50.963 billion
3.DR Congo - $47.45 billion
4.Egypt - $47.101 billion
5.Libya - $30.921 billion
6.Morocco - $30.138 billion
7.Nigeria - $16.965 billion
8.Tunisia - 15.945 billion
9.Cameroon - $13.492 billion
10.Cote d'Ivoire - $11.364 billion
11.Ethiopia - $8.974 billion
12.Kenya - $8.92 billion

30 years later in 2012, DRC's GDP has dropped to 16th largest on the continent at $27.483B while Algeria and Egypt are at $208B and $262B respectively

Source IMF


Could you also put the most current ranking to compare...


2013 world bank figures
1.Nigera-$ 521.8Billion
2.SA-$ 380.63 Billion
3.Egypt-$ 271.9 Billion
4.Algeria-$210.18 Billion
5.Morocco-$ 104.374 Billion
6.Libya-$75.486 Billion
7.Tunisia- $47.129 Billion
8.Ethiopia- $46.8 Billion
9.Kneya-$ 44.107 Billion
10.Cote D'ivore-$ 30.9 Billion
11. DRC-$30.629
12.Cameroon-$ 29.275


Latest IMF estimates for 2014 released this month. DRC 15th. Kenya catching up with Sudan which is suffering from sanctions. Libya messed up by renewed conflict. Ghana battered by fall in Cedi. Slow South Africa expected to be overtaken by Egypt in 2017 thereby dropping to 3rd largest economy on the continent.

1.Nigeria $594.257 B
2.South Africa $341.216 B
3.Egypt $284.860 B
4.Algeria $227.802 B
5.Angola $131.407 B
6.Morocco $112.552 B
7.Sudan $70.030 B
8.Kenya $62.722 B
9.Ethiopia $49.857 B
10.Libya $49.341 B
11.Tunisia $49.122 B
12.Tanzania $36.620 B
13.Ghana $35.475 B
14.Ivory Coast $33.963 B
15.DRC $32.665 B


Please weka rink,I doubt those figures not you!

kwani the economy of S.A is shrinking?



The figures are right as quoted lakini its the calculation thats puzzling. Take for instance the banking industry; in S.A the biggest bank has assets of 162 billion $ and the three that follow have assets upwards of 70 billion $. In Nigeria, the biggest bank assets of 23 billion $ begging the question whether the Nigerian GDPs cash is saved in mattress a/c.


Wrong understanding of GDP


I won't pretend to be an economist, so yes I don't understand GDP that much, do you have a good explanation of the disparity


Let me try to impart what Nyandemo told, To calculate GDP you need to sum up all income earned within the country or sum up all expenditure within the country by adding up consumption,investment,government spending and net exports.

Some of the reason for disparity is that;
1.Consumption and investment may not necessarily take place within the county
2.Investment does not necessarily occur through cash outlays
3.GDP is the dollar value of goods produced and not the dollar value of goods sold or purchased

Disclaimer:This is based on my laymans understanding of my macro and micro economics classes years ago
If Obiero did it, Who Am I?
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Swenani
#24 Posted : Saturday, October 11, 2014 3:55:19 PM
Rank: User

Joined: 8/15/2013
Posts: 13,237
Location: Vacuum
del


If Obiero did it, Who Am I?
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murchr
#25 Posted : Saturday, October 11, 2014 5:47:08 PM
Rank: Elder

Joined: 2/26/2012
Posts: 15,980
Swenani wrote:
shocks wrote:
Swenani wrote:
shocks wrote:
Swenani wrote:
innairobi wrote:
Swenani wrote:
2012 wrote:
innairobi wrote:
The year is 1993. The largest economies in Africa by Nominal GDP are as follows:

1.South Africa - $130.448 billion
2.Algeria - $50.963 billion
3.DR Congo - $47.45 billion
4.Egypt - $47.101 billion
5.Libya - $30.921 billion
6.Morocco - $30.138 billion
7.Nigeria - $16.965 billion
8.Tunisia - 15.945 billion
9.Cameroon - $13.492 billion
10.Cote d'Ivoire - $11.364 billion
11.Ethiopia - $8.974 billion
12.Kenya - $8.92 billion

30 years later in 2012, DRC's GDP has dropped to 16th largest on the continent at $27.483B while Algeria and Egypt are at $208B and $262B respectively

Source IMF


Could you also put the most current ranking to compare...


2013 world bank figures
1.Nigera-$ 521.8Billion
2.SA-$ 380.63 Billion
3.Egypt-$ 271.9 Billion
4.Algeria-$210.18 Billion
5.Morocco-$ 104.374 Billion
6.Libya-$75.486 Billion
7.Tunisia- $47.129 Billion
8.Ethiopia- $46.8 Billion
9.Kneya-$ 44.107 Billion
10.Cote D'ivore-$ 30.9 Billion
11. DRC-$30.629
12.Cameroon-$ 29.275


Latest IMF estimates for 2014 released this month. DRC 15th. Kenya catching up with Sudan which is suffering from sanctions. Libya messed up by renewed conflict. Ghana battered by fall in Cedi. Slow South Africa expected to be overtaken by Egypt in 2017 thereby dropping to 3rd largest economy on the continent.

1.Nigeria $594.257 B
2.South Africa $341.216 B
3.Egypt $284.860 B
4.Algeria $227.802 B
5.Angola $131.407 B
6.Morocco $112.552 B
7.Sudan $70.030 B
8.Kenya $62.722 B
9.Ethiopia $49.857 B
10.Libya $49.341 B
11.Tunisia $49.122 B
12.Tanzania $36.620 B
13.Ghana $35.475 B
14.Ivory Coast $33.963 B
15.DRC $32.665 B


Please weka rink,I doubt those figures not you!

kwani the economy of S.A is shrinking?



The figures are right as quoted lakini its the calculation thats puzzling. Take for instance the banking industry; in S.A the biggest bank has assets of 162 billion $ and the three that follow have assets upwards of 70 billion $. In Nigeria, the biggest bank assets of 23 billion $ begging the question whether the Nigerian GDPs cash is saved in mattress a/c.


Wrong understanding of GDP


I won't pretend to be an economist, so yes I don't understand GDP that much, do you have a good explanation of the disparity


Let me try to impart what Nyandemo told, To calculate GDP you need to sum up all income earned within the country or sum up all expenditure within the country by adding up consumption,investment,government spending and net exports.

Some of the reason for disparity is that;
1.Consumption and investment may not necessarily take place within the county
2.Investment does not necessarily occur through cash outlays
3.GDP is the dollar value of goods produced and not the dollar value of goods sold or purchased

Disclaimer:This is based on my laymans understanding of my macro and micro economics classes years ago



To add to what @Swenani has said, Nigeria has a large scope of industry, they produce so much of what the locals and west Africans at large consume. Talk of cement, sugar, movie/film/entertainment industry, textile oil/gas etc. South Africans main production is in the mines and truth be told mining of minerals eg Gold has been on a decline, even the price of gold itself.

As time goes, so does innovation and the country that will adapt to this change easily will carry the day. I see Kenya is now doing better than Tunisia..Libya..the Arab spring was a waste
"There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
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  | | Edit by user: Saturday, October 11, 2014 5:50 PM | Reason: Not specified
innairobi
#26 Posted : Saturday, October 11, 2014 8:11:41 PM
Rank: Member

Joined: 9/2/2010
Posts: 845
Another thing, South Africa's financial industry is an over-performer. Its more advanced than the country itself so can distort comparisons.
All my friends are heathens, take it slow. Wait for them to ask you who you know. Please don't make any sudden moves.
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shocks
#27 Posted : Sunday, October 12, 2014 7:38:39 AM
Rank: Member

Joined: 3/15/2009
Posts: 362
and here is how 2019 might look. IMF forecast, all figures in billion $

1. NIGERIA - 830
2. EGYPT - 529
3. SOUTH AFRICA - 427
4. ALGERIA - 276
5. ANGOLA - 194
6. MOROCCO - 165
7. LIBYA - 118
8. KENYA - 104
9. ETHIOPIA - 82
10. SUDAN - 79
11. TANZANIA - 57
12. TUNISIA - 57
13. CÔTE D'IVOIRE - 54
14. D. R. CONGO - 49
15. GHANA - 45
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  | | Edit by user: Sunday, October 12, 2014 7:46 AM | Reason: Not specified
Rankaz13
#28 Posted : Monday, October 13, 2014 12:05:54 AM
Rank: Elder

Joined: 5/21/2013
Posts: 2,841
Location: Here
shocks wrote:
and here is how 2019 might look. IMF forecast, all figures in billion $

1. NIGERIA - 830
2. EGYPT - 529
3. SOUTH AFRICA - 427
4. ALGERIA - 276
5. ANGOLA - 194
6. MOROCCO - 165
7. LIBYA - 118
8. KENYA - 104
9. ETHIOPIA - 82
10. SUDAN - 79
11. TANZANIA - 57
12. TUNISIA - 57
13. CÔTE D'IVOIRE - 54
14. D. R. CONGO - 49
15. GHANA - 45


Considering the lack of significant natural resources in Kenya, Corte d'Ivoire & Ethiopia, I'd say this isn't a bad show. Everybody else in that list exports the black gold.
Life is like playing a violin solo in public and learning the instrument as one goes on.
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