Richest African Countries 2019
While Africa is home to some of the world’s poorest nations, many of the countries on this continent are going quite well for themselves. While there are several ways to compare the wealth of a nation, one of the best ways to measure is by taking a look at the purchasing gross domestic product – or GDP – of a nation. This is the value of the goods and services that come from a nation for a period of one year.
Using purchasing power parity – or PPP – helps reduce differences in the cost of living and exchange rates, providing more accurate results. Based on the nominal GDP at PPP, the richest nations in Africa are:
However, another way to determine the richest nations in Africa is by looking at the nominal GDP per capita. This takes the total value of the goods and services produced by the nation and divides it by the population, giving an idea of the average income of each citizen. Based on this data, Seychelles is the richest country in Africa with a nominal GSP per capita of over $15,685. The second richest nation – and the only other nation in Africa with a GDP per capita of over $10,000 is Equatorial Guinea. Other rich nations based on this measurement include: