Economic Resources in Africa
Geography: KS3, topic 17.1.7
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.
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.
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.
Test yourself on Economic Resources in Africa
How many people in Africa work in agriculture?