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 2020 nominal GDP (billions USD):
  >200
  100–200
  50–100
  20–50
  10–20
  5–10
  1–5
  <1
Map of Africa by 2020 nominal GDP per capita (USD)

The 2020 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%)
Rank Country Nominal GDP
($ billions)
Nominal GDP

per capita (US$)

1  Nigeria 442.976 2,148.91
2  Egypt 361.875 3,561.14
3  South Africa 282.588 4,735.75
-  EAC 220.640 1184.87
4  Algeria 147.323 3,331.08
5  Morocco 112.220 3,121.38
6  Kenya 101.048 2,075.22
7  Ethiopia 95.588 974.09
8  Ghana 67.337 2,187.79
9  Tanzania 64.123 1,105.55
10  Angola 62.724 2,021.31
11 Ivory Coast Côte d'Ivoire 61.502 2,281.42
12  Democratic Republic of the Congo 46.062 456.89
13  Tunisia 39.226 3,295.45
14  Cameroon 39.036 1,493.12
15  Uganda 37.733 915.35
16  Sudan 32.576 734.60
17  Senegal 24.409 1,455.47
18  Libya 21.805 3,282.04
19  Zambia 18.909 1,001.44
20  Mali 17.685 899.22
21  Burkina Faso 16.082 768.83
22  Botswana 15.872 6,557.51
23  Benin 15.292 1,258.92
24  Gabon 15.145 7,185.42
25  Mozambique 14.557 455.01
26  Guinea 14.238 1,019.41
27  Madagascar 14.199 514.85
28  Zimbabwe 14.002 921.85
29  Niger 12.971 535.83
30  Mauritius 11.341 8,950.70
31  Chad 10.510 639.85
32  Rwanda 10.428 823.40
33  Namibia 10.252 4,051.93
34  Equatorial Guinea 10.028 7,131.16
35 Republic of the Congo Republic of Congo 9.964 2,128.23
36  Malawi 8.330 399.10
37  Mauritania 7.428 1,790.95
38  Togo 5.719 690.28
39  Somalia 4.918
40  South Sudan 4.177 303.15
41  Sierra Leone 4.140 518.47
42  Eswatini 3.848 3,414.81
43  Djibouti 3.408 3,074.33
44  Burundi 3.131 263.67
45  Liberia 3.068 653.60
46  Central African Republic 2.321 480.49
47  Eritrea 2.075 585.16
48  Lesotho 1.906 924.21
49  Cape Verde 1.870 3,358.33
50  The Gambia 1.806 746.33
51  Guinea-Bissau 1.392 766.75
52  Comoros 1.200 1,336.95
53  Seychelles 1.198 12,322.59
54  São Tomé and Príncipe 0.417 1,911.89
-- Total 2,333.978

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.