10 Largest economies in Africa

If Africa was a country it would be the world’s 5th largest economy

  1. Nigeria- $1.2 trillion Nigeria is Africa’s richest country. Worlds 23rd largest economy. Contrary to popular belief, agriculture only makes up less than a third of the $1.166 Trillion GDP in Nigeria. The oil industry is what makes Nigeria thrive. The country provides about 10 percent of the oil imports for the U.S, and is India’s largest oil supplier. Cocao groundnuts, palm oil, maize, sorghum, petroleum, tin, columbite, iron ore. The GDP in Nigeria reflects a country of vast wealth and resources: $1.166 trillion. Its crude steel production has increased significantly with a new plant that opened in 2006 (Nigeria and South Africa make up half of the continents GDP)

2. South Africa $742  billion Since 1996, at the end of over twelve years of international sanctions, South Africa’s Gross Domestic Product has almost tripled to $400 billion, and foreign exchange reserves have increased from $3 billion to nearly $50 billion; creating a growing and sizable African middle class, within two decades of establishing democracy and ending South Africa’s economy is heavily diversified with manufacturing, mining, and the service industry being the largest employers. South Africa dominates the continent in so many ways. It has the biggest companies. Best schools. Best infrastructure, Best skyline, Biggest malls, Best airports. Most diversity. Tallest buildings. Most tourism. And most progressive constitution.with maize, wheat, uranium, chromium, fruits, sugar, gold and diamonds. South Africa’s GDP is a hefty $683.1 billion. Twenty-one percent of the gold in the world is found in Africa, and an astounding 56 percent of the gold on the continent is in South Africa. Moreover, South Africa possesses 97 percent of Africa’s platinum.is replete with maize, wheat, uranium, chromium, fruits, sugar, gold and diamonds. 

South Africa — $2,494 billion in metal & ore reserves more than any other country, 91% Platinum (PGM), 6% Gold, 2% Nickel, 1% Iron ore.  Twenty-one percent of the gold in the world is found in Africa, and an astounding 56 percent of the gold on the continent is in South Africa. Moreover, South Africa possesses 97 percent of Africa’s platinum. 

sa economy

 

  1. Egypt $324 billion Egypt’s mineral and energy resources include petroleum, natural gas, phosphates, gold and iron ore. Crude oil is found primarily in the Gulf of Suez and in the Western Desert. Natural gas is found mainly in the Nile Delta, off the Mediterranean shore, and in the Western Desert.Thirty two percent of Africa’s steel is produced in Egypt.
  2. Algeria $260 billion The main source of the economic growth in Algeria is its oil and gas production, which contributes  70 percent of the country’s revenue and 97 percent of the country’s exports. The government is the country’s largest source of employment, giving jobs to 32 percent of the working public.
  3. Morocco $254.4 billion. Most of its income comes from the jump in tourism in the early 21st century. The 1942 film Casablanca sealed the country as a tourist attraction.wheat, barley, citrus, dates, phosphates, iron ore, manganese. Morocco is the leading African producer of primary refined lead, accounting for 88 percent of the continental output.
  4. Angola $194 billion  Angola is another agricultural country. Agriculture provides employment for 85 percent of Angola’s population. Oil production also contributes to Angola’s wealth accounting for 45 percent of the country’s GDP. It is also China’s largest Oil supplier. The country’s biggest natural resources are iron, petroleum and diamonds — Angola is the third-largest producer of the glittery gems
  5. Ethiopia $174 billion The agricultural industry accounts for 41 percent of this, 80 percent of the total exports and 80 percent of employment. Though the growth may be slowing down a bit as the GDP rose 6.6 percent in 2013, compared to 12.7 percent in 2010, the country still falls in line as the seventh-richest in Africa.
  6. Tanzania $150 billion
  7. Kenya $143 billion, Kenya is a newcomer to the richest countries in Africa list. Kenya’s top five exported products are tea,cut flowers, coffee, legumes and passenger and cargo ships.Coffee, tea, maize, sugarcane, limestone, soda ash, rubies . Economic growth was at 4.9 percent in 2013 and 5.7 percent in 2014, according to africaneconomicoutlook.org.
  8. Ghana $120 -This country boasts gold as its primary export, recently replacing cocoa. Diamonds, aluminum and bauxite also account for a large part of the country’s exports. This country accounts for 13 percent of Africa’s gold and 5 percent of its bauxite (for aluminum).

 

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