List of African countries by GDP (nominal)

From Wikipedia, the free encyclopedia

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]

GDP (Nominal) of Africa 2022

  Nigeria (16.87%)
  Egypt (15.70%)
  South Africa (13.77%)
  Algeria (6.26%)
  Morocco (4.78%)
  Angola (4.18%)
  Kenya (3.84%)
  Ethiopia (3.72%)
  Tanzania (2.56%)
  Ghana (2.54%)
  Other Countries (25.78%)
Rank Country Nominal GDP
(Billion US$)[8][9]
Per Capita
(US$)[8][9]
1  Nigeria 504.203 2,326.230
2  Egypt 469.094 4,504.369
3  South Africa 411.480 6,738.926
4  Algeria 187.155 4,151.437
5  Morocco 142.874 3,715.214
6  Angola 124.794 3,790.704
7  Kenya 114.858 2,255.480
8  Ethiopia 111.181 1,097.584
9  Tanzania 76.582 1,245.040
10  Ghana 75.996 2,368.814
11  Ivory Coast 68.630 2,418.436
12  Democratic Republic of the Congo 63.909 660.210
13  Uganda 48.352 1,105.590
14  Tunisia 46.840 3,915.820
15  Cameroon 44.212 1,584.003
16  Sudan 42.762 916.033
17  Libya 40.836 6,025.680
18  Zimbabwe 38.280 2,420.220
19  Senegal 27.542 1,558.144
20  Zambia 27.025 1,348.360
21  Gabon 22.221 10,281.775
22  Guinea 19.745 1,345.568
23  Mali 18.434 857.976
24  Burkina Faso 18.268 824.884
25  Botswana 18.005 7,347.738
26  Mozambique 17.873 542.095
27  Benin 17.547 1,366.871
28  Equatorial Guinea 16.877 11,264.416
29  Madagascar 15.106 521.578
30  Niger 14.639 561.222
31 Republic of the Congo Republic of Congo 14.486 2,945.102
32  Chad 12.945 743.373
33  Namibia 12.488 4,808.922
34  Rwanda 12.098 912.744
35  Malawi 11.554 522.963
36  Mauritius 11.497 9,111.606
37  Mauritania 10.091 2,328.251
38  Somalia 8.416 539.001
39  Togo 8.359 960.833
40  South Sudan 4.784 327.898
41  Eswatini 4.669 4,056.177
42  Sierra Leone 4.101 493.572
43  Liberia 3.900 735.185
44  Djibouti 3.725 3,665.827
45  Burundi 3.686 292.619
46  Lesotho 2.507 1,186.744
47  Central African Republic 2.488 495.936
48  Eritrea 2.369 646.957
49  The Gambia 2.172 846.171
50  Cape Verde 2.053 3,600.223
51  Seychelles 2.005 20,265.681
52  Guinea-Bissau 1.624 856.620
53  Comoros 1.242 1,299.682
54  São Tomé and Príncipe 0.506 2,230.662
-- Total 2,988.527 2,175.195

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 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. ^ "Report for Selected Countries and Subjects". IMF.
  8. ^ a b "World Economic Outlook database SSA: April 2022 Nominal GDP". imf.org.
  9. ^ a b "World Economic Outlook database NA: April 2022 Nominal GDP". imf.org.