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 2022 estimates are as follows:[7][8]

GDP (Nominal) of Africa 2021

  Nigeria (16.33%)
  South Africa (15.46%)
  Egypt (14.90%)
  Algeria (6.09%)
  Morocco (4.86%)
  Kenya (4.06%)
  Ethiopia (3.67%)
  Ghana (2.82%)
  Angola (2.76%)
  Tanzania (2.60%)
  Other Countries (26.43%)
Rank Country Nominal GDP
(Billion US$)[7][8]
Per Capita
(US$)[7][8]
1  Nigeria 510.588 2,355.688
2  Egypt 435.621 4,162.081
3  South Africa 426.166 6,979.440
4  Algeria 193.601 4,294.418
5  Morocco 133.062 3,628.641
6  Angola 124.862 3,792.754
7  Tanzania 114.679 2,251.980
8  Kenya 105.325 1,039.773
9  Ivory Coast 77.506 1260.065
10  Democratic Republic of the Congo 73.894 2,303.290
11  Ghana 73.047 2,574.087
12  Somalia 64.795 669.365
13  Libya 48.773 7,196.794
14  Uganda 46.377 1,060.427
15  Cameroon 45.713 1,637.768
16  Tunisia 45.642 3,763.007
17  Zimbabwe 31.460 673.935
18  Sudan 28.435 1,608.642
19  Senegal 26.665 1,330.374
20  Zambia 22.456 1,390.314
21  Gabon 19.621 885.941
22  Mali 19.264 896.585
23  Botswana 18.426 7,519.206
25  Benin 18.387 1,432.302
26  Mozambique 18.091 546.718
27  Guinea 17.611 1,230.132
28  Equatorial Guinea 16.335 10,902.139
29 Republic of the Congo Republic of Congo 15.951 3,242.942
30  Burkina Faso 15.620 598.851
31  Madagascar 14.616 504.308
32  Namibia 13.019 5,016.174
33  Chad 12.938 742.943
34  Rwanda 12.060 909.910
35  Malawi 12.042 545.065
36  Mauritius 11.263 8,892.105
37  Mauritania 9.280 2,141.061
38  Togo 8.699 999.907
39  Niger 8.491 543.833
40  South Sudan 5.730 392.704
41  Eswatini 4.646 4,035.540
42  Sierra Leone 4.268 513.338
43  Djibouti 3.836 3,775.004
44  Liberia 3.829 776.350
45  Burundi 3.431 272.355
46  Central African Republic 2.645 527.215
47  Eritrea 2.568 701.150
48  Lesotho 2.561 1,212.571
49  The Gambia 2.166 843.846
50  Cape Verde 1.997 3,502.981
51  Seychelles 1.750 17,692.999
52  Guinea-Bissau 1.656 872.978
53  Comoros 1.310 1,371.029
54  São Tomé and Príncipe 0.526 2,315.158
-- Total 2969.687 1,968.133

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. ^ a b c "World Economic Outlook database SSA: April 2022 Nominal GDP". imf.org.
  8. ^ a b c "World Economic Outlook database NA: April 2022 Nominal GDP". imf.org.