SOCIOECONOMIC INEQUALITIES: AFRICA AND THE WORLD

Abstract

Background and Objective: There are huge inequalities within the African continent and between Africa and the world in socioeconomic terms. The aim of this article is to disseminate knowledge about the problems of African countries, their causes and effects, as well as to indicate the differences on the socioeconomic level between African regions and Africa
and the world.

Materials and Methods: The article uses the literature sources. The empirical material is the data of the World Bank (OECD, Luxembourg Income Study, data of surveyed households obtained from government statistical agencies). The following research methods were used: descriptive analysis, comparative analysis, statistical data analysis.

Results: The socioeconomic situation in Africa is deteriorating in most indicators, for example GDP per capita or the national current account. Africa still faces many economic challenges, including catching up with the rest of the world and overcoming barriers to development.

Practical Implications: It should be noted that the difficult living conditions in the countries of Africa confirm the results obtained on the basis of the indicators used. The situations existing on this continent cause huge disproportions between African countries and the world.

Conclusion and Summary: Africa’s socioeconomic situation is improving but with little or no change over the years. African countries are only aligning with other selected countries in terms of diplomacy. Other measures do not indicate the presence of convergence.