Tag: African Economies

Charles Robertson: 40 African countries have a smaller GDP than US state of Vermont

Charles Robertson: 40 African countries have a smaller GDP than US state of Vermont

Business
The US state of Vermont has a gross domestic product (GDP) bigger than those of 40 African countries. reports HowwemadeitinAfrica A recent note by Charles Robertson, chief economist at Renaissance Capital, shows that with a GDP of US$30bn, Vermont has a larger economy than countries such as Côte d’Ivoire, Zambia and Mozambique. Vermont has a population of about 600,000 and is the US state with the smallest GDP. However, Robertson says he is confident that an improvement in education and positive demographics will help countries such as Uganda and Mozambique overtake Vermont in the coming years. More African countries are also expected to rebase their GDP calculations like Nigeria did earlier this year. In April Nigeria officially overtook South Africa as the largest econ