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Africa’s economic growth accelerated after 2000, making it the world’s third-fastest growing region

African annual real GDP, 2008 $ billion

Compound annual growth rate, %

Compound annual real GDP growth, 2000–08 %, constant exchange rates

42 .

9 1 .

24 .

461

839 694

1,067

1970 1980 1990 2000

3.6

1,108

01

1,144

02

4.9

1,191

03

1,258

04

5.5

1,323

05

1,400

06

5.6

1,483

07

1,561

2008

Emerging Asia

Middle East

5.2

Africa

4.9

Central and Eastern Europe

4.8

8.3

Latin America

4.0

World

3.0

Developed economies

2.0

SOURCE: International Monetary Fund; McKinsey Global Institute

4

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