Economy
The combined states of the African Union constitute a nominal GDP of US$1.627 trillion dollars. By measuring GDP by PPP, the African Union's economy totals $2.849 trillion, ranking it 6th after Germany.
The AU's future goals include the creation of a free trade area, a customs union, a single market, a central bank, and a common currency (see African Monetary Union), thereby establishing economic and monetary union. The current plan is to establish an African Economic Community with a single currency by 2023.
Read more about this topic: African Union
Famous quotes containing the word economy:
“The counting-room maxims liberally expounded are laws of the Universe. The merchant’s economy is a coarse symbol of the soul’s economy. It is, to spend for power, and not for pleasure.”
—Ralph Waldo Emerson (1803–1882)