Richest African Countries 2021
ETH
GDP (IMF '19): $90.97 Bn
GDP (UN '16): $70.31 Bn
Per Capita: $70.31 Bn
Many of the world's poorest nations are in
Africa. Most economies are unstable, and poverty is widespread. There are, however, some African countries that have the fastest-growing economies in the world. The largest components of the African economy are agriculture, trade, and natural resources, and the African economy is expected to reach a GDP of $29 trillion by 2050.
While there are several ways to compare a nation's wealth, one of the best ways to measure is by taking a look at the purchasing gross domestic product – or GDP – of a nation. This is the value of the goods and services that come from a nation for one year. GDP does not consider the difference in the cost of living and inflation rates between countries as GDP per capita at purchasing power parity (PPP) does.
Richest African Countries by GDP
GDP information from the
International Monetary Fund was used to determine the wealthiest African countries. Six African countries have GDPs of over $100 billion. The top ten wealthiest African countries are:
- Nigeria - $514.05 billion
- Egypt - $394.28 billion
- South Africa - $329.53 billion
- Algeria - $151.46 billion
- Morocco - $124 billion
- Kenya - $106.04 billion
- Ethiopia - $93.97 billion
- Ghana - $74.26 billion
- Ivory Coast - $70.99 billion
- Angola - $66.49 billion