Sub Saharan GDP per capita is where developed countries were in the 1800s! Mungu atusaidie sisi kama bonobos
https://en.m.wikipedia.org/wiki/List_of_regions_by_past_GDP_(PPP)_per_capita
Kenya GDP per capita is $1500, that’s where UK and US were around 1850.
Atleast we are out of the 1700s… Being positive…
Dont worry too much about GDP figures…a lot of our economies are still informal…but
Be very worried by the fact that our public debt is almost 60% of our GDP.
And do you know that Elon Musk is worth more than kenya, Tanzania, Uganda and Rwanda combined!
Tulisema hizi comparison za kijinga tuwache. Ulikua umeanza vizuri but you finished like a true bonobo
GDP of a country vs value/worth of a country?
Are they different? I thought GDP is the total monetary value of all services and goods produced within a country? But like i said above its not easy to quantify most of our services and goods…esp services. we tend to leave them out when calculating our GDPs
@Sambamba am usually not good with insults but goods and services innovated by individual billionaires like Musk can move a country’s GDP by 100s billions…but does that always translate into better lives for the rest of the citizens? If Tesla sets up a mega factory in kenya what impact would it have on our GDP and economic development?
:D:D:D
The things we read here!
Stop coping boy, we are royally screwed. Time to start planning how me or my family will move out of this godforsaken land.
You are not good with insults just as you are not good at economics
Yes, based on GDP the monetary value of the goods and services that someone like Bezos produced last year are worth much more than the monetary value of goods and services that kenya, uganda, tanzania and Rwanda produced last year
Hehehe, nini imekuchemsha na hiyo statement?
Si basi ungeedit hio post yako hapo juu
Kenya kuna grey economy ingine ngori sana…doesn’t appear anywhere kwa statistics. At least half of talkers hapa earn their bread in this other world. Undeclared and untaxed revenues that will never reflect on World Bank’s assessment
To get a true-er picture you also need to factor purchasing power parity. $10 dolars can’t get you the same amount worth of goods and services in the U.S that 1k can get you in Kenya …
Those get accounted for, don’t kid yourself. Informal sector workers always takes their money somewhere (usually house essentials), and therefore it gets accounted for in the household spending part of the GDP equation.
That sounds like a yuuuge lie.
It’s not a good idea to use Tesla (Elon Musk) as a comparison for real things. Volkswagen made 200k hybrid/ electric cars vs Tesla’s projected 500k. Volkswagen makes 19 times more vehicles overall than Tesla. Yet Tesla is valued almost 10 times as much.
Tesla has been using government subsidies to sell EVs. Many nations including US and China have started cutting them back. There will be market corrections.
And every other EV maker has the same subsidies
Exactly. These GDP maneno is aimed to put the African down. $1000 may not afford someone rent in the US but it will sustain a family in Nairobi. A diary farmer making $1000 in rural Kenya may even live like a king. So all this GDP talk and comparisons is hogwash.
We also want to see the rebasing of exchange rates to reflect the actual value of money such that if a 3brm in nairobi rents at 60k and same goes for $1200 (Ksh 120,000) in new York, then the exchange rate should be $1200=Ksh 60,000, thus $1=50 bob. If a loaf of bread goes for $2 in the US and 50 bob in kenya then exchange rate should be $2=50 bob ie $1=25 bob.
The big automakers have held back producing EVs because they are still profitable with conventional engines. Pretty soon, Tesla has to tackle them headon. Tesla’s margins will be significantly cut.