Africa\u2019s economy has always been associated with hunger and poverty, but it is a continent that shows great potential. A recent summit of African countries with Russia, the coup d\u2019\u00e9tat in Niger and the participation of South Africa and Ethiopia in the BRICS put Africa back on the world\u2019s radar.<\/p>\n\n
You may read: Colombian Ministry of Commerce issues balance sheet on trade agreements in force<\/strong><\/a><\/p>\n\n Although it is associated with shortages and conflicts, in reality Africa\u2019s economy represents a great potential for Colombian exports. The African continent has a large population that demands goods produced by Colombia in international trade, thus offering great opportunities for Colombian exporters.<\/p>\n\n Africa is made up of 52 countries with full recognition and two territories with limited recognition (Western Sahara and Somaliland). According to the World Bank, Africa\u2019s economy represents 3% of the world\u2019s GDP. The countries with the highest production are Nigeria (USD$477,386 million), Egypt (USD$476,747 million) and South Africa (USD$405,869 million).<\/p>\n\n The African continent will have around 1.3 billion people in 2023, 16% of the world\u2019s population, according to UN estimates. More than 1 billion of these people live in Sub-Saharan Africa. The countries of North Africa – Morocco, Algeria, Tunisia, Libya and Egypt – account for 250 million people, according to the same international organization.<\/p>\n\n The most populated countries in Africa today are Nigeria, with 224 million people; Ethiopia, with 126.5 million; Egypt, with 113 million; the Democratic Republic of Congo, with 103 million, and Tanzania with 67 million inhabitants, according to UN data.<\/p>\n\n The African population may represent a potential demand for goods, especially because it is the continent with the highest proportion of young people<\/strong>. According to the UN, 70% of African people are under 30 years old. By 2033, Africa\u2019s economy will have the highest proportion of economically active population in the world. The biggest barrier is poverty, a situation in which 60% of the population lives, according to the same organization.<\/p>\n\nOpportunities for Colombian exporters: the African population has a significant demand for goods<\/h2>\n\n