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 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/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 493
2  South Africa 317.29
3  Egypt 291.538 As of 2014
4  Algeria 175.1
5  Morocco 103.1
6  Angola 102
7  Sudan 84.3
8  Kenya 63.1 Revised to $53.40 billion(2013)[7]
9  Ethiopia 63
10  Tanzania 46.2
11  Tunisia 44.3
12  DR Congo 39.1
13  Ghana 37.7
14  Libya 31.3
15  Ivory Coast 29.7
16  Cameroon 28.5
17  Uganda 24.9 Revised to $24.69 billion[8][9]
18  Zambia 24.5
19  Mozambique 17
20  Senegal 14
21  Zimbabwe 13.9
22  Gabon 13.8
23  Botswana 13.1
24  Namibia 12.9
25  South Sudan 12.9
26  Chad 11.7
27  Mauritius 11.6
28  Burkina Faso 11.3
29  Mali 11
30  Equatorial Guinea 10
31  Madagascar 9.5
32  Congo 8.9
33  Rwanda 8.5
34  Benin 7.7
35  Niger 7.1
36  Guinea 6.7
37  Malawi 6.4
38  Mauritania 4.7
39  Sierra Leone 4.3
40  Eritrea 4.3
41  Swaziland 4.3
42  Togo 4.2
43  Burundi 3
44  Lesotho 2
45  Liberia 2
48  Djibouti 1.7
46  Cape Verde 1.6
47  Central African Republic 1.6
49  Seychelles 1.4
50  Guinea-Bissau 1
51  The Gambia 0.807
 Somalia --
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. ^ IMF World Economic Outlook (WEO), October 2015 [1] [2]
  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.