List of African countries by GDP (nominal)

Gross domestic product (GDP) is the market value of all final goods and services from a nation in a given year. Countries in Africa are sorted according to data from the International Monetary Fund. The figures presented here do not take into account differences in the cost of living in different countries, and the results can vary greatly from one year to another based on fluctuations in the exchange rates of the country's currency.[1] Such fluctuations may change a country's ranking from one year to the next, even though they often make little or no difference to the standard of living of its population.[2]

Some countries may have citizens that are on average wealthy. These countries/regions could appear in this list as having a small GDP. This would be because the country/region listed has a small population, and therefore small total economy; the GDP is calculated as the population times market value of the goods and services produced per person in the country.[3][4]

These figures should therefore be used with caution.

Comparisons of national wealth are also frequently made on the basis of purchasing power parity (PPP), to adjust for differences in the cost of living in different countries. PPP largely removes the exchange rate problem, but has its own drawbacks; it does not reflect the value of economic output in international trade, and it also requires more estimation than nominal GDP.[5] On the whole, PPP per capita figures are more narrowly spread than nominal GDP per capita figures.[6]

Map of Africa by 2008 nominal GDP (billions USD):
  >200
  100–200
  50–100
  20–50
  10–20
  5–10
  1–5
  <1
Map of Africa by 2017 nominal GDP per capita (USD)

The 2019 estimates are as follows:[7][8][9][10]

GDP (Nominal) of Africa 2019

  Nigeria (18.13%)
  South Africa (15.13%)
  Egypt (12.21%)
  Algeria (7.49%)
  Morocco (4.94%)
  Kenya (4.04%)
  Angola (3.76%)
  Ethiopia (3.71%)
  Ghana (2.78%)
  Tanzania (2.78%)
  Other Countries (27.81%)
2019 Rank Country Nominal GDP
($ billions)
Nominal GDP

per capita (US$)

Notes
- ECOWAS 668.601 1,708.05
1 Nigeria 444.916 2,233.45
2 South Africa 371.298 6,331.46
3 Egypt 299.589 3,019.72
- EAC 210.167 1,257.48
4 Algeria 183.687 4,229.78
5 Morocco 121.350 3,409.95
6 Kenya 99.246 2,010.51
7 Angola 92.191 3,060.02
8 Ethiopia 90.968 951.10
9 Ghana 68.258 2,262.57
10 Tanzania 61.032 1,172.18
11 Democratic Republic of the Congo 48.458 495.08
12 Côte d'Ivoire 45.252 1,722.26
13 Libya 44.964 6,835.62
14 Cameroon 39.219 1,537.61
15 Tunisia 36.204 3,072.51
16 Uganda 33.569 828.06[11]
17 Sudan 31.468 728.06
18 Senegal 25.32 1,510.20
19 Zambia 24.615 1,343.57
20 Zimbabwe 22.29 1,423.49
21 Botswana 19.651 8,263.22
22 Mali 17.833 933.88
23 Gabon 16.709 8,031.44
24 Mozambique 15.372 493.37
25 Burkina Faso 14.882 744.24
26 Mauritius 14.812 11,693.55
27 Namibia 13.961 5,675.11
28 Madagascar 12.734 470.67
29 Guinea 12.623 926.33
30 Equatorial Guinea 12.432 9,140.32
31 Chad 11.372 888.29
32 Benin 11.184 954.10
33 Republic of Congo 11.162 2,443.75
34 Rwanda 10.211 829.97
35 Niger 9.724 487.68
36 Somalia 7.903
37 Eritrea 7.718 1,253.06
38 Malawi 7.436 366.532
39 Togo 5.592 682.40
40 Mauritania 5.569 1,191.51
41 Eswatini 4.662 4,205.67
42 Sierra Leone 3.998 516.76
43 Burundi 3.573 309.87
44 Liberia 3.221 703.67
45 South Sudan 3.151 235.52
46 Lesotho 2.811 1,372.51
47 Djibouti 2.392 2,218.05
48 Central African Republic 2.285 440.99
49 Cabo Verde 2.042 3,650.11
50 The Gambia 1.741 778.08
51 Seychelles 1.654 17,154.74
52 Guinea-Bissau 1.538 865.74
53 Comoros 0.726 832.87
54 São Tomé and Príncipe 0.477 2,147.16
-- Total 2,453.844

See alsoEdit

ReferencesEdit

  1. ^ Moffatt, Mike. "A Beginner's Guide to Purchasing Power Parity Theory". About.com. IAC/InterActiveCorp. Retrieved 31 May 2014.
  2. ^ Ito, Takatoshi; et al. (January 1999). "Economic Growth and Real Exchange Rate: An Overview of the Balassa-Samuelson Hypothesis in Asia" (PDF). Changes Rates in Rapidly Development Countries: Theory, Practice, and Policy Issues. National Bureau of Economic Research. Retrieved 1 June 2014.
  3. ^ "What is GDP and why is it so important?". Investopedia. IAC/InterActiveCorp. 26 February 2009. Retrieved 30 May 2014.
  4. ^ "GDP rankings in Africa". visafrican. Visafrican.com. 23 July 2016. Retrieved 23 July 2016.
  5. ^ Callen, Tim (28 March 2012). "Purchasing Power Parity: Weights Matter". Finance & Development. International Monetary Fund. Retrieved 30 May 2014.
  6. ^ Callen, Tim (28 March 2012). "Gross Domestic Product: An Economy's All". Finance & Development. International Monetary Fund. Retrieved 31 May 2014.
  7. ^ IMF World Economic Outlook (WEO), April 2018
  8. ^ "IMF World Economic Outlook (WEO), October 2016".
  9. ^ "Egypt—IMF Executive Board Completes Fourth Review under the Extended Fund Facility (EFF), February 2019".
  10. ^ International Monetary Fund (2019-09-02). "World Economic Outlook Database, April 2019". www.imf.org. Retrieved 2019-09-02.
  11. ^ The Uganda Bureau of Statistics ("UBOS")www.ubos.org