8. Â Ethiopia
Ethiopia is located in the Horn of Africa where it shares borders with Djibouti, Somalia, Eritrea, Sudan, South Sudan, and Kenya. Ethiopia is the world’s most populous landlocked country. Addis Ababa is Ethiopia’s capital and largest city.
Between 2007 and 2008, Ethiopia was the world’s fastest growing non-oil dependent economy. High inflation rates and an unfavorable balance of payments situation adversely affect the economy between 2008 and 2011. Despite being the eighth richest country in Africa, Ethiopia is a poor performer in the world scenario. Ethiopia has rich water resources, one of the greatest in Africa, with 14 major rivers pouring off the country’s high tableland. However, a negligible potential of these rivers has been actually tapped for irrigation or hydroelectricity generation. Recently, the country is constructing a 6,000 MW capacity hydroelectric power station on the Nile River.
7. Â Sudan
Sudan is located in northeastern Africa and shares its borders with Egypt, Red Sea, Eritrea, Ethiopia, Chad, Central African Republic, and Libya. Sudan is Africa’s third biggest country. Khatoum is Sudan’s capital city.
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Sudan is one of the richest countries in Africa by GDP. The country was the 17th fastest growing global economy in 2010 before the secession of South Sudan which held 80% of the oil fields of Sudan, the major source of profit in the country. Since then, the growth rate of Sudan dropped down and is expected to recover gradually. Though South Sudan has the majority of oilfields in its control, it is a landlocked country and needs to rely on the pipeline to Port Sudan as well as the oil refineries of Sudan. China is the major trading partner of Sudan and has a 40% share of Greater Nile Petroleum Operating Company. Agriculture is also a major source of income and employment in the country. Though Sudan has one of the highest GDP’s among the African nations, it is also one of the most corrupt nations in the world and performs poorly in the HDI score.
6. Â Angola
The southern African country of Angola is the seventh largest nation in the continent. Angola shares its borders with Namibia, the Democratic Republic of the Congo, Zambia, and the Atlantic Ocean. Luanda is Angola’s capital and biggest city.
Angola is enriched with natural resources like diamonds, gold, copper, fossils, and oil as well as a great biodiversity and large tracts of forested lands. The rich wealth of the nation dramatically declined during the Angolan Civil War (1975 to 2002). The economy of the country has, however, gradually recovered since 2002 and is currently one of the fastest growing economies in the world. The average GDP growth of Angola between 2005 and 2007 was 20%. China is the biggest trade partner of Angola. According to 2008 report, diamonds and oil comprise nearly 60% of the country’s economy and are also the major export products from the country.
