- Sao Tome and Principe
Total GDP (in billions): $0.5
GDP Per Capita: $2,361
5 Year CAGR: 7.0%
São Tomé and Príncipe is a small island nation located in Central Africa, off the coast of Gabon. It is made up of two main islands, São Tomé and Príncipe, and a number of smaller islets. The country has an area of approximately 1,001 square kilometers and is home to a population of around 200,000 people. The capital of São Tomé and Príncipe is São Tomé, which is also the largest city in the country. Sao Tome and Principe does not possess many assets or even means of production, which is why average income is quite low in the country. The country’s main export is cocoa.
- Guinea
Total GDP (in billions): $16.1
GDP Per Capita: $1,189
5 Year CAGR: 9.3%
Guinea is a country located in West Africa. It is bordered by Guinea-Bissau to the northwest, Senegal to the north, Mali to the northeast, Ivory Coast to the east, and Liberia and Sierra Leone to the south. The capital city of Guinea is Conakry. The country has a diverse economy, with significant contributions from the mining sector, agriculture, and the service sector.
Guinea has significant reserves of minerals, including bauxite, iron ore, and gold, and the mining sector has been a major contributor to the country’s economic growth. In recent years, the government has implemented a number of reforms aimed at improving the business environment and attracting foreign investment, which have helped to drive economic growth.
However, Guinea still faces a number of challenges, including limited infrastructure, political instability, and a lack of access to credit for many businesses. In addition, the country has a high poverty rate, with more than half of the population living below the poverty line. Improving the economic prospects of the country’s poorest citizens will require further efforts to address these challenges.
- Sudan
Total GDP (in billions): $34.3
GDP Per Capita: $752
5 Year CAGR: -23.3%
Sudan is a country located in North Africa. It is bordered by Egypt to the north, the Red Sea to the northeast, Eritrea and Ethiopia to the east, South Sudan to the south, the Central African Republic to the southwest, Chad to the west, and Libya to the northwest. The capital city of Sudan is Khartoum. Sudan has the worst CAGR of any country in the world based on our calculations. In recent years, the country has faced significant economic challenges, including high inflation, a large trade deficit, and a shortage of foreign exchange.
Following the ouster of former President Omar al-Bashir in 2019 and the establishment of a transitional government, Sudan has been working to implement economic reforms and secure international support to help stabilize the economy. In 2020, the International Monetary Fund (IMF) approved a three-year extended arrangement under the Extended Fund Facility for Sudan, which aims to support the country’s economic reform program and help it address its external imbalances.
Sudan has also been working to improve relations with its neighbors and regional organizations, which could help to boost trade and investment and contribute to economic growth. However, the country still faces significant challenges, including ongoing conflicts and political instability, which could hinder its economic development.
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