List of African countries by GDP (nominal) explained

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.[1] 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.[2] 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.[3]

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] The 2024 estimates are as follows:

RankCountryNominal GDP
(Billion US$)
Per Capita
(US$)
1 South Africa403.0456,377.068
2 Egypt380.0443,541.750
3 Algeria260.1345,579.128
4 Nigeria199.721877.073
5 Morocco157.0874,203.553
6 145.0311,350.401
7 Kenya116.3212,218.025
8 Angola113.2862,961.340
9 Cote d'Ivoire86.9932,719.971
1079.8671,224.368
11 Ghana75.3072,231.793
1272.483702.373
13 Uganda55.5871,186.529
14 Cameroon53.3911,821.317
15 Tunisia52.6364,266.985
16 Libya44.8126,482.099
17 Zimbabwe35.9192,113.811
18 Senegal33.6851,805.139
19 Sudan29.793606.289
20 Zambia25.9131,226.095
21 Guinea25.4741,652.312
22 Mozambique22.495645.329
23 Burkina Faso21.858908.372
24 Mali21.653898.460
25 Benin21.3221,510.188
26 Gabon20.8979,256.657
27 Botswana19.9667,341.129
28 Niger19.599697.974
29 Chad18.6701,012.651
30 Madagascar17.212562.585
31 Mauritius15.89012,601.486
3215.0442,384.399
33 Rwanda13.663985.990
34 Namibia13.1854,409.957
35 Equatorial Guinea12.8848,101.698
36 Somalia12.729771.447
37 Malawi10.844463.733
38 Mauritania10.7612,376.285
39 Togo9.7661,051.216
40 Sierra Leone7.411856.315
415.268340.986
425.1454,375.286
43 Liberia4.756855.186
44 Djibouti4.3344,154.792
45 Burundi4.285320.636
46 Central African Republic2.823529.492
472.7565,388.164
482.693988.881
49 Lesotho2.2971,061.813
50 Guinea-Bissau2.1881,106.242
51 Seychelles2.14421,289.801
52 Eritrea1.982 (2019)566.731 (2019)
53 Comoros1.4501,629.863
540.8123,424.836
align="center" --Total2,795.3111,924.024

See also

Notes and References

  1. Web site: Report for Selected Countries and Subjects . IMF . 24 October 2024 . en.
  2. Web site: A Beginner's Guide to Purchasing Power Parity Theory . . . 31 May 2014 . Moffatt, Mike.
  3. Web site: Economic Growth and Real Exchange Rate: An Overview of the Balassa-Samuelson Hypothesis in Asia . . Changes Rates in Rapidly Development Countries: Theory, Practice, and Policy Issues . January 1999 . 1 June 2014 . Ito, Takatoshi . Takatoshi Ito . etal .
  4. Web site: Purchasing Power Parity: Weights Matter . . . 28 March 2012 . 30 May 2014 . Callen, Tim.
  5. Web site: Gross Domestic Product: An Economy’s All . . . 28 March 2012 . 31 May 2014 . Callen, Tim.