Nov. 18, 2016 Sub-Sahara Africa’s natural resource deposits are a key feature that tie the region into mainstream geopolitics. Countries in the region have historically depended highly on export of raw materials, which fueled economic growth in industrialized economies.
This strong dependence on the sale of natural resources has also made many Sub-Sahara African countries very susceptible to the exporters’ crisis – both in terms of falling commodity prices and lower demand from major customers like China. Nigeria’s oil and gas sector accounts for about 35 percent of GDP, while hydrocarbons account for about 45 percent of Angola’s GDP. Oil and petrol account for 90-95 percent of exports in both countries. The price of other commodities, including gold, iron ore, platinum and copper, has remained low. Production of these materials figure prominently in the GDPs of South Africa, the Democratic Republic of the Congo (DRC), Zimbabwe, Zambia and Mozambique.
The Road to 2040