Top 20 richest countries in Africa 2018

Top 20 richest countries in Africa 2018

Africa is a very rich continent in landmass, natural resources and human resources. With a statistics of 54 known countries and a population of over 1.2 billion, it is regarded as the second largest continent in the world. After a thorough check of each country’s Gross Domestic Production (GDP), a list of 20 of the wealthiest countries in Africa was deduced. Nigeria, South Africa, Egypt are topping the list with a high GDP while sub Saharan nations in Africa such as Zimbabwe and Botswana are at at the base of the list.

richest country in africa
top 20 richest countries in africa
richest african countries
wealthiest countries in africa
highest currency in africa

Source design233.com

A country’s GDP is determined by several factors that range from export and import changes, manufacturing and mining, administration, disposable personal income, family living wage and employment rate among others. The list is exclusively determined by the countries’ GDP.

Top 20 richest countries in Africa 2018

The list below shows the top 20 richest countries in Africa alongside with their GDP (in billions) as at the expiration of December 2017

  1. Nigeria ($375.771)
  2. South Africa ($349.419)
  3. Egypt ($235.369)
  4. Algeria ($170.371)
  5. Angola ($124.209)
  6. Sudan ($ 117.488)
  7. Morocco ($109.139)
  8. Ethiopia ($80.561)
  9. Kenya ($74.938)
  10. Tanzania ($52.09)
  11. Libya ($50.984)
  12. Ghana ($47.33)
  13. Tunisia ($47.257)
  14. Cote d'Ivoire ($40.389)
  15. DR Congo ($37.241)
  16. Cameroon ($34.799)
  17. Uganda ($25.891)
  18. Zambia ($25.809)
  19. Zimbabwe ($17.846)
  20. Botswana ($17.407)

READ ALSO: The most powerful African families in Africa

1. Nigeria - GDP $375.771 billion

According to the World Bank data, the Gross Domestic Product (GDP) of Nigeria at the end of 2017 is $375.771 billion.

It was 568.499 and 375.771 billion dollars in the year 2014 and 2017 respectively. It dropped by about 34% from the point of its peak since independence in 1960.

Nigeria is a country that is rich in oil. It also has an abundance of both natural and human resources. It is one of the largest crude oil exporting nations in the world. It is also a country that exports cocoa, timber, cola, rubber and other agricultural produce to other nations.

2. South Africa - GDP $349.419 billion

According to the World Bank data, the Gross Domestic Product (GDP) of South Africa at the end of 2017 is 349.419 billion dollars.

The GDP of the country climbed to $416.878 billion in 2011. That was its peak since the country becomes a sovereign state in 1960. It gradually dropped until it reaches 295.736 billion dollars in 2016 and climbed to its present figure.

South Africa is the most industrialized nation in Africa. It is a country that is rich in natural resources. It exports diamonds, gold, sugar, corn, fruits and wool among others.

richest country in africa
top 20 richest countries in africa
richest african countries
wealthiest countries in africa
highest currency in africa

Source Sportlived.co.uk

3. Egypt - GDP $235.369 billion

According to the World Bank data, the Gross Domestic Product (GDP) of Egypt at the end of 2017 is 235.369 billion dollars.

The GDP of the country reached its highest in 2016 since the year 1965 with a figure of 332.928 billion dollars. Within a year, it dropped by over 39% to its present state.

Egypt is an exceedingly planned economy. It exports natural gas mainly to several countries in the world. Aside from its natural gas, it also exports cotton, pharmaceutical products, rice, and fruits among others.

4. Algeria - GDP $170.371 billion

According to the World Bank data, the Gross Domestic Product (GDP) of Algeria at the end of 2017 is 170.371 billion dollars.

The countries GDP reaches its peak in 2014 at 213.810 billion dollars. That’s its highest since 1960. For two years before 2016, it dropped by over 25% before rising to its current state at the closure of 2017.

Algeria is one of the richest parts in Africa. It is listed as one of the top exporters of natural gas in the world. It exports natural gas and other petroleum products to countries like France, the US, Brazil and so on. Aside from petroleum and gas, it also involves in exporting electronics.

5. Angola - GDP $124.209 billion

According to the World Bank data, the Gross Domestic Product (GDP) of Angola at the end of 2017 is 124.209 billion dollars.

From 2014 to 2016, the country’s GDP dropped by over 24%. Within a year, it rose to its current situation which was almost its peak —$126.73 billion in 2014— the highest recorded so far.

Angola is one of the largest producers of oil in Africa. It exports petroleum, iron ores, diamonds and bauxite among others.

6. Sudan - GDP $117.488 billion

According to the World Bank data, the Gross Domestic Product (GDP) of Sudan at the end of 2017 is 117.488 billion dollars.

Sudan has had a tremendous increase in its country’s GDP since 1999. Although it had some slight decrease in 2009 and 2016, it had always been increasing. From the record, it shows that since 1960, the present state of the measurement was the country’s highest.

Sudan is a country who majored in exporting agricultural products. It is a nation that is blessed with fertile land for farming. The country exports cotton, peanuts, and sesame seed among others.

The country also has a considerable deposited of certain natural resources such as copper, iron ore, silver and so on.

7. Morocco - GDP $109.139 billion

According to the World Bank data, the Gross Domestic Product (GDP) of Morocco at the end of 2017 is 109.139 billion dollars.

The country’s GDP reaches $109.881 billion in 2014. That was the highest recorded since 1960. A year later, it dropped to 100.593 billion dollars and later rose in the two consecutive years before its final state.

Morocco’s wealth is generated from agriculture, mining and tourism. It is a country that is blessed with fertile soil that brings forth abundance in her agricultural produce. Some of these products include avocado, apple, grape, nuts, and oranges and so on.

The country is also with the richness of phosphate deposited and other minerals. Its natural environment and rich culture have brought in wealth through tourism for the country as well.

8. Ethiopia - GDP $80.561 billion

According to the World Bank data, the Gross Domestic Product (GDP) of Ethiopia at the end of 2017 is 80.561 billion dollars.

Ethiopia’s GDP measurement as of 2017 is its highest since 1981. Since 1996, it had shown major increment with a little downside in 2010.

Ethiopia is a country that made her income through export of agricultural commodities. Its major export product is coffee. Aside from exporting coffee, Ethiopia also exports oilseeds, flowers, fruits, livestock products (such as leather) and so on.

9. Kenya - GDP $74.938 billion

According to the World Bank data, the Gross Domestic Product (GDP) of Kenya at the end of 2017 is 74.938 billion dollars.

The country’s GDP measurement as of 2017 is its highest since 1960. Since 1995, it had shown a significant increment with a little downside in 2001 and 2002.

Kenya majorly exports horticultural products as well as tea. It is one of the largest suppliers of coffee in the world. It also exports fish to most neighbouring countries. Aside from dealing with agricultural products, Kenya also exports petroleum products.

richest country in africa
top 20 richest countries in africa
richest african countries
wealthiest countries in africa
highest currency in africa

Source Travelstartkenya.co.ke

10. Tanzania - GDP $52.09 billion

According to the World Bank data, the Gross Domestic Product (GDP) of Tanzania at the end of 2017 is 52.09 billion dollars. That is the highest measurement recorded since 1988.

Tanzania’s GDP has significantly increased since 1988 with a little downside in 2015. That year, it recorded a measurement of 45.623—only about a 5% decrease from its previous year.

Tanzania is one of the richest countries in Africa. The majorly export agricultural and crude commodities such as coffee, cotton, cashew nuts, gold, diamonds and tobacco among others. The country exports certain textile and clothing products as well.

11. Libya - GDP $50.984 billion

According to the World Bank data, the Gross Domestic Product (GDP) of Libya at the end of 2017 is 50.984 billion dollars.

Libya’s GDP reaches its peak in 2008 which was 87.14 billion dollars. The closest to that amount was in 2012 when it reaches 81.874 billion dollars. Between 2008 and 2017, the country’s GDP has had some ups and downs; but always rising each time.

Libya is an oil-rich nation in Africa. It majorly exports crude oil and gas as well as other petroleum products and chemicals.

12. Ghana - GDP $47.33 billion

According to the World Bank data, the Gross Domestic Product (GDP) of Ghana at the end of 2017 is 47.33 million dollars.

Ghana’s GDP measurement reaches its peak in 2013 at 47.805 billion dollars. That’s the highest since 1960. It dropped to 37.338 billion dollars in 2015 and rose again to its current state.

Ghana is a country rich in gold. It is a country that gets her income through the export of gold and other minerals which includes aluminium, manganese ore and diamond among others. Aside from mineral deposits, the country is rich in horticulture, cocoa and timber among other agricultural relations.

READ ALSO: Ghana rated among countries with high investor confidence

13. Tunisia - GDP $47.257 billion

According to the World Bank data, the Gross Domestic Product (GDP) of Tunisia at the end of 2017 is 47.257 billion dollars.

Since 1965, it attained its peak in 2014. It recorded a measurement of 47.588 billion dollars that year. From 2014 until its current measurement in 2017, it has constantly declined.

Tunisia is a country that exports mostly textile and apparels. It also deals with exporting certain petroleum products and chemicals such as iron ore, lead, salt and so on. Aside from this, it deals with agricultural products.

14. Cote d'Ivoire (Ivory Coast) - GDP $40.389 billion

According to the World Bank data, the Gross Domestic Product (GDP) of Cote d'Ivoire which was hitherto called Ivory Coast at the end of 2017 is 40.389 Billion dollars.

Since 1960, the current measurement was the highest ever recorded. It has shown a significant increase over the years with little-recorded downsides in years like 1994 and 2015 where it recorded $8.314 and $33.145 billion respectively.

Ivory Coast is a country that is listed as one of the world’s largest exporters of cash crops such as coffee, cocoa, cashew, rubber, oil palm and so on.

15. DR Congo - GDP $37.241 billion

According to the World Bank data, the Gross Domestic Product (GDP) of the Democratic Republic of Congo at the end of 2017 is 37.241 billion dollars.

The county’s GDP reaches its peak in 2015, recording a measurement of 37.918 billion dollars. A year later, it dropped by almost 8% and later rose to its current measurement.

DR Congo is a country that is large in landmass. It is an African country that is rich in natural resources. It is a large exporter of diamond, copper, gold, tin and oil among others. The country also involves in the export of wood products and coffee.

16. Cameroon - GDP $34.799 billion

According to the World Bank data, the Gross Domestic Product (GDP) of Cameroon at the end of 2017 is 34.799 billion dollars.

Since her independence in 1960, the country’s GDP attained its peak in 2014. It recorded a measurement of 34.943 billion dollars. The measurement fell in 2015 and later rose to almost its actual measurement in 2017.

Cameroon is a country that exports mostly agricultural products and petroleum. It is a country that exports natural gas, crude oil, cocoa, coffee, gold, cotton and aluminium among others.

17. Uganda - GDP $25.891 billion

According to the World Bank data, the Gross Domestic Product (GDP) of Uganda at the end of 2017 is 25.891 billion dollars.

In 2014, the country’s GDP attained 27.292 billion dollars; that was its highest since 1960. Since 1993, the GDP measurement had been increasing significantly before 2015 slight fall that led to major decline before 2016.

Uganda is a country that is rich in agriculture. It made her earnings through export in the line of agriculture. Uganda exports coffee, tobacco, maize, fish, animal hides, cocoa, beans and cotton among others.

18. Zambia - GDP $25.809 billion

According to the World Bank data, the Gross Domestic Product (GDP) of Zambia at the end of 2017 is 25.809 billion dollars.

The country’s GDP measurement reaches its highest in 2013 with a figure of 28.045 billion dollars. In 2016, the measurement dropped to 20.955 billion dollars. Aside from this major downside, the country’s GDP has shown tremendous growth; especially between the year 2000 and 2013.

Zambia export mineral such as copper in a large amount. It also involves in exporting other minerals such as cobalt and gemstones. Aside from her mineral deposits, the country takes advantages of her fertile lands. She exports agricultural products such as cotton, tobacco and sugar among others.

richest country in africa
top 20 richest countries in africa
richest african countries
wealthiest countries in africa
highest currency in africa

Source Answersafrica.com

19. Zimbabwe - GDP $17.846 billion

According to the World Bank data, the Gross Domestic Product (GDP) of Zimbabwe at the end of 2017 is 17.846 Billion dollars. That is the highest GDP measurement ever recorded in the country.

The country’s GDP has shown significant increase ever since. It, however, rose from 4.416 billion dollars in 2008 to its current state without any decline. That is over 75% increase within 9 years.

Zimbabwe exports mostly agricultural produce. Some of the country’s produce includes; coffee, cotton, peanuts, maize, tobacco, wheat and fruits among others. Aside from fetching from the agricultural richness of the country, Zimbabwe is also involved in certain mining activities such as coal, nickel, platinum, copper and coal among others.

20. Botswana - GDP $17.407 billion

According to the World Bank data, the Gross Domestic Product (GDP) of Botswana at the end of 2017 is 17.407 billion dollars. That is the highest ever recorded GDP since 1960.

The country’s GDP has shown a significant increase since 1985. Although there has been some little downside in certain periods, it has maintained its growth.

Botswana is an agricultural motivated nation. It is fortified with fertile soil for planting and animal husbandry. The country exports beef, animal hides and textiles. Aside from the agricultural benefits it has, it deals with diamonds, copper and nickel among other natural resources.

Conclusion

The information drawn above is solely based on their GDP measurement as at the closure of the year 2017. It should only be limited to that. But, a true country’s wealth is determined by its ability to feed her people.

The measure of a country’s GDP shows its state of success as well as hastened the course of sustainable development. It doesn’t really tell anything about the common man’s happiness. Look around your country and judge if your country should or shouldn’t be included in this list. Leave a reply and help to bring actual admiration for your country.

Source: Yen.com.gh

Related news
Best quotes to motivate you in life

Encouraging quotes to help you through life

Motivational messages about life
YEN.com.gh
Mailfire view pixel