Top 10 Biggest Economies in Africa

Africa’s Gross Domestic Product (GDP) constitutes four percent of the USD89 trillion global GDP in the past year, up from 2.1Pct in 2016. The GDP expansion is largely supported by the Sub-Saharan Africa growth, which the International monetary Fund (IMF) forecasted at 3.4Pct in 2019 and 3.6Pct for 2020. The GDP of sub-Saharan Africa reached USD2.371 trillion in 2018.

 

The Word Bank’s global economic prospect published in 2019 forecasts that the economy of sub-Saharan region would grow by 3.4Pct. However, the three Sub-Saharan African largest economies, Nigeria, South Africa and Angola are predicted to grow with below the regional average, while non-commodity driven economies, including Ethiopia, Rwanda and Tanzania, are expected to grow by over six percent. EBR

Rank

Country

Real GDP (in billions of USD)
1

Nigeria

44.92

2

South Africa

371.3

3

Egypt

299.59

4

Algeria

193.69

5

Morocco

121.35

6

Kenya

99.25

7

Angola

92.19

8

Ethiopia

90.97

9

Ghana

68.26

10

Tanzania

61.03

Source: IMF 2018


8th Year • Aug.16 - Sep.15 2019 • No. 77


 

 

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