Richest African Countries 2021

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Many of the world's poorest nations are in Africa. Most economies are unstable, and poverty is widespread. There are, however, some African countries that have the fastest-growing economies in the world. The largest components of the African economy are agriculture, trade, and natural resources, and the African economy is expected to reach a GDP of $29 trillion by 2050.

While there are several ways to compare a nation's wealth, 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 one year. GDP does not consider the difference in the cost of living and inflation rates between countries as GDP per capita at purchasing power parity (PPP) does.

Richest African Countries by GDP

GDP information from the International Monetary Fund was used to determine the wealthiest African countries. Six African countries have GDPs of over $100 billion. The top ten wealthiest African countries are:

  1. Nigeria - $514.05 billion
  2. Egypt - $394.28 billion
  3. South Africa - $329.53 billion
  4. Algeria - $151.46 billion
  5. Morocco - $124 billion
  6. Kenya - $106.04 billion
  7. Ethiopia - $93.97 billion
  8. Ghana - $74.26 billion
  9. Ivory Coast - $70.99 billion
  10. Angola - $66.49 billion

Nigeria is the richest and most populous country in Africa. The country's large population of 211 million is a likely contributor to its large GDP. Nigeria is a middle-income, mixed economy and emerging market with growing financial, service, communications, and technology sectors.

Egypt, the second-richest country in Africa, is the third-most populous country with 104 million people. Egypt is also a mixed economy with an emerging information and communications technology sector.

Richest African Countries by GDP per Capita

When looking at GDP per capita— gross domestic product per person— the richest countries look a little different. According to the IMF, the ten richest countries in Africa, in terms of GDP per capita, are:

  1. Seychelles - $26,120
  2. Mauritius - $22,030
  3. Equatorial Guinea - $18,240
  4. Botswana - $18,110
  5. Gabon - $16,240
  6. Madagascar - $13,720
  7. Egypt - $13,080
  8. South Africa - $12,440
  9. Algeria - $11,430
  10. Tunisia - $10,590

Although Nigeria has the highest GDP of any African country, its GDP per capita is not in the top ten countries for GDP per capita.

Seychelles is the richest country when using this metric. The Seychelles economy is primarily driven by fishing, tourism, boat building, processing coconuts and vanilla, and agriculture, especially cinnamon, sweet potatoes, tuna, and bananas. Its public sector contributes the most employment and gross revenue, employing two-thirds of the total labor force.

Here are the 10 richest countries in Africa:

  1. Nigeria ($514.05 Bn)
  2. Egypt ($394.28 Bn)
  3. South Africa ($329.53 Bn)
  4. Algeria ($151.46 Bn)
  5. Morocco ($124.00 Bn)
  6. Kenya ($106.04 Bn)
  7. Ethiopia ($93.97 Bn)
  8. Ghana ($74.26 Bn)
  9. Ivory Coast ($70.99 Bn)
  10. Angola ($66.49 Bn)

Richest African Countries 2021

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Richest African Countries 2021

Country GDP GDP per Capita
Nigeria$514.05 Bn$5,280
Egypt$394.28 Bn$13,080
South Africa$329.53 Bn$12,440
Algeria$151.46 Bn$11,430
Morocco$124.00 Bn$8,030
Kenya$106.04 Bn$5,270
Ethiopia$93.97 Bn$2,970
Ghana$74.26 Bn$5,970
Ivory Coast$70.99 Bn$5,640
Angola$66.49 Bn$6,880
Tanzania$65.92 Bn$2,860
Dr Congo$55.09 Bn$1,130
Cameroon$44.89 Bn$3,740
Tunisia$44.27 Bn$10,590
Sudan$35.83 Bn$4,080
Senegal$27.93 Bn$3,620
Zimbabwe$26.09 Bn$2,700
Mali$19.91 Bn$2,470
Zambia$18.95 Bn$3,320
Burkina Faso$18.85 Bn$2,330
Botswana$18.73 Bn$18,110
Gabon$18.36 Bn$16,240
Benin$17.33 Bn$3,570
Guinea$16.34 Bn$2,730
Niger$15.90 Bn$1,320
Madagascar$14.75 Bn$13,720
Mozambique$13.96 Bn$1,290
Chad$12.53 Bn$1,620
Mauritius$12.21 Bn$22,030
Republic Of The Congo$12.02 Bn$4,170
Namibia$11.38 Bn$9,540
Rwanda$10.63 Bn$2
Malawi$9.27 Bn$1,000
Togo$8.63 Bn$2,260
Somalia$5.37 Bn$941
South Sudan$4.46 Bn$843
Sierra Leone$4.42 Bn$1,770
Djibouti$3.66 Bn$5,300
Liberia$3.37 Bn$1,600
Burundi$3.24 Bn$772
Central African Republic$2.72 Bn$1,010
Lesotho$2.46 Bn$2,830
Eritrea$2.25 Bn$1,860
Gambia$2.08 Bn$2,380
Cape Verde$2.00 Bn$7
Guinea Bissau$1.65 Bn$2,410
Comoros$1.31 Bn$3,020
Seychelles$950.00 Mn$26,120
Sao Tome And Principe$490.00 Mn$3,930

Richest African Countries 2021