Generating the Wealth of Nations 32: Three Charts on Africa

The first of these shows real GDP per capita in the Mediterranean nations of Africa.  As these things go, these 5 nations are among the highest-income nations in Africa.  Libya has the lest-normal pattern, with a huge oil boom, followed by decline.  

 (Click to enlarge.)

Two nations in Africa have grown at average annual rates of about 5% per year or faster.  I have no idea what happened in Equitorial Guinea beginning about 1995, but the 15 years since then have been spectacular.

(Click to enlarge.)

Then, four nations that have grown fairly steadily, all at about 3% per  year.

(Click to enlarge.)