The African Economies and Agricultural Value-Added – Contribution to GDP. Top Economies of 20 Countries in Africa 2012

Hemmali Nagmy1, Patrik Rovny2, Lucia Vilhanová3
1 Faculty of Economics and Management, Slovak Agricultural University in Nitre, 2, 3 Department of Marketing, Faculty of Economics and Management, Slovak Agricultural University in Nitre
Nagmy, Hemmali (Faculty of Economics and Management, Slovak Agricultural University in Nitre)
Rovny, Patrik (Department of Marketing, Faculty of Economics and Management, Slovak Agricultural University in Nitre)
Vilhanová, Lucia (Department of Marketing, Faculty of Economics and Management, Slovak Agricultural University in Nitre)
The African Economies and Agricultural Value-Added – Contribution to GDP. Top Economies of 20 Countries in Africa 2012
Zeszyty Naukowe SGGW, Polityki Europejskie, Finanse i Marketing, 2012, vol.7(56), nr , s. 62-72

Abstract

For national income accounting, policy decision-makers need information about state “country economy” of national economy. In this paper the economic fundamentals of African selected countries are explained in order to place these countries’ economies in perspective before continuing to examine the GDP settings of the countries in order to similarly place their agricultural sectors in perspective. Secondary economic data is sourced from different informal bodies as United Nations World Development Indicators, the Food and Agricultural Organization (FAO) and the Central Intelligence Agency (CIA) websites, with the most consistent recently available data used. Some examples on GDP are given, GDP is a crucial measure of the size and health of an economy and the economic measurements are defined. The difference between GDP and GNP as well as GDP components are explained. Differences between microeconomics and macroeconomics are also illustrated.