Economy of the African Union
# Economy of the African Union

African Economic Community :

| Pillar regional blocs (REC) | Area (km²) | Population | GDP (PPP) ($US) | GDP (PPP) ($US) | Member states |
| - | - | - | - | - | - |
| Pillar regional blocs (REC) | Area (km²) | Population | (millions) | (per capita) | Member states |
| EAC | 4,810,363 | 312,362,653 | 833,622 | 3,286 | 7 |
| ECOWAS/CEDEAO | 5,112,903 | 349,154,000 | 1,322,452 | 3,788 | 15 |
| IGAD | 5,233,604 | 294,197,387 | 225,049 | 1,197 | 7 |
| AMU/UMA $^a$ | 6,046,441 | 106,919,526 | 1,299,173 | 12,628 | 5 |
| ECCAS/CEEAC | 6,667,421 | 218,261,591 | 175,928 | 1,451 | 11 |
| SADC | 9,882,959 | 394,845,175 | 737,392 | 3,152 | 15 |
| COMESA | 12,873,957 | 406,102,471 | 735,599 | 1,811 | 20 |
| CEN-SAD $^a$ | 14,680,111 | | | | 29 |
| Total AEC | 29,910,442 | 853,520,010 | 2,053,706 | 2,406 | 54 |
| Other regional blocs | Area (km²) | Population | GDP (PPP) ($US) | GDP (PPP) ($US) | Member states |
| Other regional blocs | Area (km²) | Population | (millions) | (per capita) | Member states |
| WAMZ $^1$ | 1,602,991 | 264,456,910 | 1,551,516 | 5,867 | 6 |
| SACU $^1$ | 2,693,418 | 51,055,878 | 541,433 | 10,605 | 5 |
| CEMAC $^2$ | 3,020,142 | 34,970,529 | 85,136 | 2,435 | 6 |
| UEMOA $^1$ | 3,505,375 | 80,865,222 | 101,640 | 1,257 | 8 |
| UMA $^2$ $^a$ | 5,782,140 | 84,185,073 | 491,276 | 5,836 | 5 |
| GAFTA $^3$ $^a$ | 5,876,960 | 1,662,596 | 6,355 | 3,822 | 5 |
| During 2004. Sources: The World Factbook 2005, IMF WEO Database.  Smallest value among the blocs compared.  Largest value among the blocs compared. $^1:$ Economic bloc inside a pillar REC. $^2:$ Proposed for pillar REC, but objecting participation. $^3:$ Non-African members of GAFTA are excluded from figures. $^a:$ The area 446,550 $km^2$ used for Morocco excludes all disputed territories, while 710,850 $km^2$ would include the Moroccan-claimed and partially-controlled parts of Western Sahara (claimed as the Sahrawi Arab Democratic Republic by the Polisario Front). Morocco also claims Ceuta and Melilla, making up about 22.8 $km^2$ (8.8 sq mi) more claimed territory. This box: viewtalkedit ||||||

The combined states of the African Union (AU) constitute the world's 11th largest economy with a nominal gross domestic product (GDP) of US$2263 billion. By measuring GDP by purchasing power parity (PPP), the African Union's economy totals US$1.515 trillion, ranking it 11th after Russia. At the same time, they have a combined total debt of US$200 billion.

The AU has only 2% of the world's international trade. But because over 90% of international trade consists of currency futures, Africa's 2% actually makes up the bulk of real commodity traded worldwide to include about 70% of the world's strategic minerals, including gold and aluminium. Africa is also a large market for European, American and Chinese industry.

The AU future confederation's goals include the creation of a free trade area, a customs union, a single market, a central bank, and a common currency, thereby establishing economic and monetary union. The current plan is to establish an African Economic Community with a single currency (afro) by 2030*.*

