Ethiopia is now Africa's fastest growing economy

By Chris Giles, CNN

Updated 1031 GMT (1831 HKT) April 24, 2018

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A view of the capital of Ethiopia, Addis Ababa. The country has experienced fast economic growth in the last decade, averaging around 10% a year. Economists cite the country's manufacturing industry as a key element in the country's success.

Photos: Africa's fastest growing economies

Ethiopia – A view of the capital of Ethiopia, Addis Ababa. The country has experienced fast economic growth in the last decade, averaging around 10% a year. Economists cite the country's manufacturing industry as a key element in the country's success.

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According to the IMF, Ivory Coast's economy is expected to grow by 7.4%. According to the <a href="http://www.worldbank.org/en/country/cotedivoire" target="_blank">World Bank</a>, the country is world's top exporter of cocoa and raw cashew nuts.

Photos: Africa's fastest growing economies

Ivory Coast – According to the IMF, Ivory Coast's economy is expected to grow by 7.4%. According to the World Bank, the country is world's top exporter of cocoa and raw cashew nuts.

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The small and landlocked country Rwanda is predicted to grow by 7.2%. The aim of their "Vision 2020" plan is to transform the country into a service and knowledge-based economy.

Photos: Africa's fastest growing economies

Rwanda – The small and landlocked country Rwanda is predicted to grow by 7.2%. The aim of their "Vision 2020" plan is to transform the country into a service and knowledge-based economy.

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Photos: Africa's fastest growing economies

Senegal – Senegal's economy is based on fishing, mining and agriculture. Its economy is expected to expand by 7% in 2018.

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The East African nation is predicted to grow by 6.4% this year. The country has sustained strong economic growth in the last decade, averaging between 6 to 7% according to the <a href="http://www.worldbank.org/en/country/tanzania/overview" target="_blank">World Bank</a>.

Photos: Africa's fastest growing economies

Tanzania – The East African nation is predicted to grow by 6.4% this year. The country has sustained strong economic growth in the last decade, averaging between 6 to 7% according to the World Bank.

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Ghana was previously the fastest growing economy in Sub-Saharan Africa, but has slowed. Although, a sharp increase in oil production has helped support economic growth in the country.

Photos: Africa's fastest growing economies

Ghana – Ghana was previously the fastest growing economy in Sub-Saharan Africa, but has slowed. Although, a sharp increase in oil production has helped support economic growth in the country.

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The West African country, Benin, is expected to have economic growth of around 6%.

Photos: Africa's fastest growing economies