17.1.7

Economic Resources in Africa

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Economic Resources

Africa has a very mixed economy, the people living here are often quite poor but Africa has one of the biggest reserves of natural resources in the world.

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Economic resources

  • Some African countries are rich in natural resources such as oil, gas and minerals.
  • Africa has one of the highest natural reserves of gold and diamonds.
  • There is also a high amount of metal ores such as copper, aluminium, iron and uranium.
  • African countries are known for growing a range of different crops such as coffee, tea, cocoa, cotton, flowers and fruit.
  • Ghana is an example of a country which has used its natural resources to develop its economy.
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Economy

  • Almost 65% of all people work in agriculture, rising to 90% in some countries.
  • Africa has lots of low-income countries.
  • Almost half of the population of Africa live in extreme poverty, which means they live on less than $1 per day.
  • Africa also has some countries with higher incomes.
  • Nigeria has one of the fastest growing economies in the world.
  • Ghana has worked with the IMF (International Monetary Fund) to make sure its economy grows. The Ghanan economy relies on exports of its natural resources such as gold, timber and diamonds.

Jump to other topics

1Geography Skills

2Geology of the UK

3Geography of the World

4Development

5Weather & Climate

6The World of Work

7Natural Resources

8Rivers

9Coasts

10Glaciers

11Tectonics

12Climate Change

13Global Population & Inequality

14Urbanisation

15Ecosystems

16Life in an Emerging Country

17Analysis of Africa

18Analysis of India

19Analysis of the Middle East

20Analysis of Bangladesh

21Analysis of Russia

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