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]

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

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 2023 estimates are as follows:[5]

GDP (Nominal) of Africa 2023

  Egypt (13.89%)
  Nigeria (13.59%)
  South Africa (13.28%)
  Algeria (7.81%)
  Ethiopia (5.43%)
  Morocco (5.14%)
  Kenya (3.93%)
  Angola (3.27%)
  Tanzania (2.93%)
  Ivory Coast (2.77%)
  Other Countries (27.96%)
Rank Country Nominal GDP
(Billion US$)[5]
Per Capita
(US$)[5]
1  Egypt 398.397 3,770.133
2  Nigeria 390.002 1,755.326
3  South Africa 380.906 6,190.742
4  Algeria 224.107 4,874.706
5  Ethiopia 155.804 1,473.360
6  Morocco 147.343 3,979.871
7  Kenya 112.749 2,187.648
8  Angola 93.796 2,550.001
9  Tanzania 84.033 1,326.634
10  Ivory Coast 79.430 2,728.079
11  Ghana 76.628 2,328.970
12  Democratic Republic of the Congo 67.512 675.477
13  Uganda 52.390 1,163.034
14  Tunisia 51.271 4,190.603
15  Cameroon 49.262 1,721.954
16  Libya 40.194 5,872.222
17  Zimbabwe 32.424 2,005.875
18  Senegal 31.141 1,714.653
19  Zambia 29.536 1,435.890
20  Sudan 25.569 533.845
21  Guinea 23.205 1,542.757
22  Mozambique 21.936 647.135
23  Mali 21.309 912.643
24  Burkina Faso 20.785 888.029
25  Botswana 20.756 7,758.371
26  Benin 19.940 1,449.112
27  Gabon 19.319 8,831.823
28  Niger 17.073 630.800
29  Madagascar 15.763 529.560
30  Mauritius 14.819 11,751.506
31 Republic of the Congo Republic of Congo 14.407 2,857.614
32  Rwanda 13.927 1,031.692
33  Malawi 13.176 579.701
34  Namibia 12.647 4,785.679
35  Chad 12.596 702.845
36  Somalia 11.515 717.406
37  Mauritania 10.357 2,337.914
38  Equatorial Guinea 10.041 6,502.187
39  Togo 9.111 1,004.466
40  South Sudan 6.267 417.438
41  Eswatini 4.648 3,995.029
42  Liberia 4.347 800.213
43  Djibouti 3.873 3,761.241
44  Sierra Leone 3.519 414.962
45  Burundi 3.190 245.811
46  Central African Republic 2.760 539.240
47  Cape Verde 2.598 4,502.784
48  The Gambia 2.388 903.293
49  Lesotho 2.373 1,110.179
50  Seychelles 2.085 20,889.545
51  Guinea-Bissau 1.991 1,028.223
52  Eritrea 1.982 (2019)[6] 566.731 (2019)[6]
53  Comoros 1.364 1,377.022
54  São Tomé and Príncipe 0.674 2,904.715
-- Total 2,869.235 2,029.242

See also

References

  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. ^ Callen, Tim (28 March 2012). "Purchasing Power Parity: Weights Matter". Finance & Development. International Monetary Fund. Retrieved 30 May 2014.
  4. ^ Callen, Tim (28 March 2012). "Gross Domestic Product: An Economy's All". Finance & Development. International Monetary Fund. Retrieved 31 May 2014.
  5. ^ a b c "Report for Selected Countries and Subjects". IMF. Retrieved 12 October 2023.
  6. ^ a b "Report for Selected Countries and Subjects". IMF. Retrieved 12 October 2023.