List of African countries by GDP (nominal)

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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 World Bank. 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/regions 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]

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.[4] On the whole, PPP per capita figures are more narrowly spread than nominal GDP per capita figures.[5]

List[edit]

The 2015 estimates are as follows: [6]

2015 Rank Country Nominal GDP
($ billions)
Notes
1  Nigeria 568.508
2  South Africa 352.817
3  Egypt 291.538
4  Algeria 214.063
5  Angola 131.401
6  Morocco 107.005
7  Kenya 69.937 Revised to $53.40 billion(2013)[7]
8  Sudan 63.815
9  Ethiopia 54.798
10  Tanzania 49.115
11  Tunisia 46.995
12  Libya 41.119
13  Ghana 38.648
14  Ivory Coast 34.254
15  DR Congo 32.962
16  Cameroon 32.549
17  Zambia 27.066
18  Uganda 26.312 Revised to $24.69 billion[8][9]
19  Gabon 17.228
20  Mozambique 16.386
21  Botswana 15.813
22  Senegal 15.579
23  Equatorial Guinea 14.308
24  Congo 14.135
25  Chad 13.922
26  Zimbabwe 13.663
27  Namibia 13.430
28  South Sudan 13.070
29  Mauritius 12.616
30  Burkina Faso 12.543
31  Mali 12.074
32  Madagascar 10.593
33  Benin 8.747
34  Niger 8.169
35  Rwanda 7.890
36  Guinea 6.624
37  Mauritania 5.061
38  Sierra Leone 4.892
39  Togo 4.518
40  Malawi 4.258
41  Eritrea 3.858
42  Swaziland 3.400
43  Burundi 3.094
44  Lesotho 2.088
45  Liberia 2.027
46  Cape Verde 1.871
47  Central African Republic 1.783
48  Djibouti 1.582
49  Seychelles 1.406
50  Guinea-Bissau 1.022
51  The Gambia 0.807
 Somalia --
 Sahrawi Arab Democratic Republic --
52  Comoros 0.648
53  São Tomé and Príncipe 0.335

See also[edit]

References[edit]

  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 in Exchange 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. ^ Callen, Tim (28 March 2012). "Purchasing Power Parity: Weights Matter". Finance & Development. International Monetary Fund. Retrieved 30 May 2014. 
  5. ^ Callen, Tim (28 March 2012). "Gross Domestic Product: An Economy’s All". Finance & Development. International Monetary Fund. Retrieved 31 May 2014. 
  6. ^ [1]
  7. ^ "Kenya's economy increases by a quarter to join Africa's top 10". Reuters. 30 September 2014. Retrieved 23 December 2014. 
  8. ^ "UGANDA'S GDP EXPANDS BY 13% AFTER REBASING". CNBC Africa. 29 November 2014. Retrieved 23 December 2014. 
  9. ^ "GDP ESTIMATES REBASED TO 2009/10" (PDF). UBOS. November 2014. Retrieved 23 December 2014.