Financial and insurance activities (banking), value added in Africa
Africa: Financial and insurance activities (banking), value added was 113.55 billion current US$ in 2008. ◆ Volatile
Latest (2008)
113.55 billion current US$
Change on year
down 6.5%
Rank
1st
of 1 groups
All-time high
121.39 billion current US$
in 2007
All-time low
2.55 billion current US$
in 1965
Years of data
44
1965–2008
Financial and insurance activities (banking), value added in Africa, 1965–2008
Source: World Bank national accounts data, and OECD National Accounts data files. Measured in current US$.
Analysis
In 2008, financial and insurance activities (banking), value added in Africa stood at 113.55 billion current US$.
The figure is down 6.5% on the previous year and up 140.0% over ten years.
Over the whole period, financial and insurance activities (banking), value added in Africa peaked at 121.39 billion current US$ in 2007 and was at its lowest, 2.55 billion current US$, in 1965.
The series is highly variable year to year, so single readings are best treated with caution.
Financial and insurance activities (banking), value added in Africa, year by year
| Year | current US$ | Change |
|---|---|---|
| 1965 | 2.55 billion current US$ | — |
| 1966 | 2.86 billion current US$ | +12.0% |
| 1967 | 3.25 billion current US$ | +13.9% |
| 1968 | 3.63 billion current US$ | +11.5% |
| 1969 | 4.15 billion current US$ | +14.3% |
| 1970 | 4.71 billion current US$ | +13.6% |
| 1971 | 5.44 billion current US$ | +15.4% |
| 1972 | 5.72 billion current US$ | +5.2% |
| 1973 | 7.33 billion current US$ | +28.2% |
| 1974 | 8.84 billion current US$ | +20.6% |
| 1975 | 8.61 billion current US$ | -2.6% |
| 1976 | 8.46 billion current US$ | -1.8% |
| 1977 | 9.21 billion current US$ | +8.9% |
| 1978 | 10.30 billion current US$ | +11.9% |
| 1979 | 12.61 billion current US$ | +22.5% |
| 1980 | 16.14 billion current US$ | +27.9% |
| 1981 | 17.42 billion current US$ | +8.0% |
| 1982 | 17.00 billion current US$ | -2.4% |
| 1983 | 18.93 billion current US$ | +11.4% |
| 1984 | 19.13 billion current US$ | +1.0% |
| 1985 | 15.88 billion current US$ | -17.0% |
| 1986 | 18.01 billion current US$ | +13.4% |
| 1987 | 23.52 billion current US$ | +30.6% |
| 1988 | 26.30 billion current US$ | +11.8% |
| 1989 | 28.55 billion current US$ | +8.6% |
| 1990 | 27.49 billion current US$ | -3.7% |
| 1991 | 30.96 billion current US$ | +12.6% |
| 1992 | 35.25 billion current US$ | +13.9% |
| 1993 | 35.99 billion current US$ | +2.1% |
| 1994 | 37.69 billion current US$ | +4.7% |
| 1995 | 43.43 billion current US$ | +15.2% |
| 1996 | 43.04 billion current US$ | -0.9% |
| 1997 | 48.65 billion current US$ | +13.0% |
| 1998 | 47.32 billion current US$ | -2.7% |
| 1999 | 49.05 billion current US$ | +3.7% |
| 2000 | 49.09 billion current US$ | +0.1% |
| 2001 | 46.77 billion current US$ | -4.7% |
| 2002 | 44.73 billion current US$ | -4.4% |
| 2003 | 66.70 billion current US$ | +49.1% |
| 2004 | 86.41 billion current US$ | +29.6% |
| 2005 | 98.56 billion current US$ | +14.1% |
| 2006 | 106.49 billion current US$ | +8.1% |
| 2007 | 121.39 billion current US$ | +14.0% |
| 2008 | 113.55 billion current US$ | -6.5% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1960s | 3.29 billion current US$ | 2.55 billion current US$ | 4.15 billion current US$ | 5 |
| 1970s | 8.12 billion current US$ | 4.71 billion current US$ | 12.61 billion current US$ | 10 |
| 1980s | 20.09 billion current US$ | 15.88 billion current US$ | 28.55 billion current US$ | 10 |
| 1990s | 39.89 billion current US$ | 27.49 billion current US$ | 49.05 billion current US$ | 10 |
| 2000s | 81.52 billion current US$ | 44.73 billion current US$ | 121.39 billion current US$ | 9 |
Countries ranked near Africa
More economy & growth data for Africa
- Africa's Development Dynamics (AfDD) Table 04 - Annual real GDP 1.96 Percent per annum (2028)
- Africa's Development Dynamics (AfDD) Table 02 - Annual real GDP 4.26 Percent per annum (2028)
- Gross Domestic Product — Annual growth US$ per capita 7.84 % (2024)
- Gross Domestic Product — Value US$, 2015 prices 3.04 million million USD (2024)
- Gross Domestic Product — Annual growth US$, 2015 prices 2.89 % (2024)
- Gross Domestic Product — Annual growth US$ per capita, 2015 prices 0.5509 % (2024)
- Gross Fixed Capital Formation — Share of GDP US$ 19.18 % (2024)
- Gross Fixed Capital Formation — Annual growth US$ -6.42 % (2024)
- Gross Fixed Capital Formation — Value US$ 594,014 million USD (2024)
- Gross Fixed Capital Formation — Value US$, 2015 prices 668,776 million USD (2024)
Frequently asked questions
- What is financial and insurance activities (banking), value added in Africa?
- Financial and insurance activities (banking), value added in Africa was 113.55 billion current US$ in 2008, according to World Bank national accounts data, and OECD National Accounts data files.
- What is the highest financial and insurance activities (banking), value added recorded in Africa?
- The highest recorded value was 121.39 billion current US$ in 2007.
- What is the lowest financial and insurance activities (banking), value added recorded in Africa?
- The lowest recorded value was 2.55 billion current US$ in 1965.
- How does Africa rank for financial and insurance activities (banking), value added?
- Africa ranks 1st out of 1 groups with data for 2008.
- Is financial and insurance activities (banking), value added rising or falling in Africa?
- Over the last ten years it is up 140.0%. The long-run trend across the full record is volatile.
- Where does this Africa data come from?
- The figures come from World Bank national accounts data, and OECD National Accounts data files, published as part of Financial and insurance activities (banking), value added (current US$). Statizoid updates them automatically from the source API.
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About this data
Value added in banking is defined as the value of output of the banking industry less the value of intermediate consumption (intermediate inputs). Banking is a subset of services, comprising financial intermediation (ISIC 65-67). Data are in current U.S. dollars.