Our World

Africa's Economy

The economy of Africa consists of trade, industry and resources of peoples of Africa. Africa is noted to be one of the world's poorest inhabited continents, and on average, it has been recorded to be poorer that it was 25 years ago. There have been a few contributions that have swayed the low economy. One of these events was the Cold War, which was the ideological struggle between the United States and the Soviet Union that was conducted between 1946 and 1991. Along with the low economy, Africa suffers from the widespread effects from poverty. Some of the effects are low life expectancy, violence and instability. Over the years they have attempted to improve the economy and well being of the citizens and they have been met with little success.

The African economy relies more on the agriculture way of life. This form of work labor employs 60% of laborers. Approximately three-fifths of African farmers are subsistence farmers, which are farmers that produce enough food to sustain their normal daily activities. It is known to be a very harsh way of living, with little hope for improvement. Larger farms grow many cash crops such as coffee, cotton, cocoa and rubber. Another part to their economy exists in their mining and drilling. Their most valuable exports are minerals and petroleum. Some of the southern nations have large reserves of gold, diamonds, and copper. Most of the petroleum is concentrated in Nigeria and Libya. These industries only employ about two million people, which is a very small portion of Africa’s population.

The geography is unsuited to Africa's trade, which takes a toll on their economy. On the western side there is rainforest which impedes the transit of people and goods. The wealthy parts of South Africa and blocked by the Kalahari Desert and the Sahara acts as a barrier that blocks trade from the North. You would think that with some of the great river systems, that the trade would be better. But there are many rapids and cataracts that block the African rivers, causing an alternative way of navigation.Africa suffers from major problems with diseases. Some of the most significant types are malaria and HIV/AIDS. The cost of vaccines and medical supplies adds to the economic cost of the labor force that is becoming medical dependents. As parents die from the sickness, they leave their children behind and these children must find care somewhere else. This adds to the burden of many struggling families and states.

This is just a slight overview of the many economic and social problems of Africa. I couldn't imagine what it would be like working everyday and having all your money go to your needs and not being able to purchase something you want. I know in the United States we have many organizations that help the people of Africa. But are these efforts we put out there even helping the citizens? Many parts of the United States are very well off, and here we have a very successful economy. We also have very good agricultural land and trade passages. But Africa has very limited agricultural land and they struggle with their trading. I believe that there has to be some additional way that we can help out. Do you guys have any ideas as to how we can contribute to the needs in Africa?

Africa's Economy

posted by Anonymous @ 10/26/2006 08:18:00 PM