Special Report
Most Self-Sufficient Economies in the World
February 15, 2022 3:00 pm
Last Updated: March 2, 2022 7:52 am
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15. Cameroon
> Imports as % of GDP, 2020: 18.23%
> Imports in current US$, 2020: $7.44 billion – #77 lowest of 189 countries
> Annual imports growth, 2020: -17.21% – #32 largest decline of 170 countries
> Exports as % of GDP, 2020: 15.04% – #23 lowest of 190 countries
> Exports in current US$, 2020: $6.13 billion – #76 lowest of 189 countries
> GDP in current US$, 2020: $40.80 billion – #91 highest of 190 countries
This largely agrarian African country on the Atlantic coast with a population of about 27 million exports primarily petroleum oils, cocoa beans and tropical wood, and cotton, primarily to European countries (led by Italy) and China. The Cameroon government is pursuing the development of hydroelectric power ostensibly to help reduce its dependence on imported fuels.
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14. Kenya
> Imports as % of GDP, 2020: 17.68%
> Imports in current US$, 2020: $17.85 billion – #87 highest of 189 countries
> Annual imports growth, 2020: -8.48% – #54 smallest decline of 170 countries
> Exports as % of GDP, 2020: 9.68% – #13 lowest of 190 countries
> Exports in current US$, 2020: $9.78 billion – #94 highest of 189 countries
> GDP in current US$, 2020: $101.01 billion – #64 highest of 190 countries
The seventh largest African country by population (about 54 million) has seen its trade deficit surge on domestic demand for fuel and industrial products as the world begins to emerge from the disruptions to global trade caused by the COVID-19 pandemic. Kenya’s primary export is vegetables, followed by food products, chemicals, and textiles and clothing. Free-trade negotiations between Kenya and the United States are ongoing.
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13. Pakistan
> Imports as % of GDP, 2020: 17.45%
> Imports in current US$, 2020: $45.82 billion – #59 highest of 189 countries
> Annual imports growth, 2020: -7.91% – #49 smallest decline of 170 countries
> Exports as % of GDP, 2020: 10.03% – #14 lowest of 190 countries
> Exports in current US$, 2020: $26.34 billion – #67 highest of 189 countries
> GDP in current US$, 2020: $262.61 billion – #43 highest of 190 countries
Like Bangladesh, Pakistan is heavily reliant on the export of textiles and clothing, which make up about 57% of the South Asian country’s exports. Pakistan, with a population of about 221 million, recently announced efforts to reduce its dependence on textiles and clothing exports by targeting higher-value industries like pharmaceuticals and engineering. The country’s imports are considerably higher than its exports and primarily consist of petroleum.
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12. Ethiopia
> Imports as % of GDP, 2020: 16.93%
> Imports in current US$, 2020: $18.22 billion – #85 highest of 189 countries
> Annual imports growth, 2020: 15.60% – #5 largest increase of 170 countries
> Exports as % of GDP, 2020: 7.09% – #7 lowest of 190 countries
> Exports in current US$, 2020: $7.63 billion – #88 lowest of 189 countries
> GDP in current US$, 2020: $107.65 billion – #59 highest of 190 countries
This East African country of about 115 million people recently lost its duty-free access to the United States in response to Ethiopia’s war in the Tigray region and related “gross violations” of human rights, per the Biden administration. The country is heavily reliant on exports of coffee and fresh vegetables, and its top three export markets are China, Saudi Arabia, and the U.S. The country imports far more than it exports, importing primarily petroleum and aircraft.
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11. Nigeria
> Imports as % of GDP, 2020: 16.57%
> Imports in current US$, 2020: $71.63 billion – #47 highest of 189 countries
> Annual imports growth, 2020: -23.30% – #14 largest decline of 170 countries
> Exports as % of GDP, 2020: 8.83% – #11 lowest of 190 countries
> Exports in current US$, 2020: $38.17 billion – #63 highest of 189 countries
> GDP in current US$, 2020: $432.29 billion – #26 highest of 190 countries
Africa’s most-populous country (about 206 million people) and largest economy is planning to boost its non-oil exports over the next five years. Fuels make up about 87% of the country’s exports. Nigeria benefits from duty-free access to the U.S. market through the U.S. African Growth and Opportunity Act that’s up for renewal in 2025.
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