Top 10 Largest Economies In Africa 2018
Here is a brief overview of the largest economies in Africa:
Note: Egypt didnt’t let the IMF publish anything on their economy this year, so based on their GDP last year we estimated their GDP for this year.
1. Nigeria (GDP $394 Billion)
Nigeria is classified as a mixed economy emerging market. The country’s stock exchange is the second largest in Africa. Officially, Nigeria has the largest economy in Africa.
The current GDP value of Nigeria represents 0.65 percent of the world economy.
2. Egypt (GDP $350 Billion ‘implied’)..
Egypt’s economy is one of the largest and most diversified in the Middle East. Tourism, agriculture, services and industry contribute to GDP growth significantly. The country has the second largest economy in Africa.
3. South Africa (GDP $344 Billion)
The slow pace of global economic growth continued to impact South Africa’s development negatively. With around 25 percent of the population without work, unemployment is the nation’s biggest social challenge.
4. Algeria (GDP $175 Billion)
Officially the People’s Democratic Republic of Algeria, Algeria is the tenth largest country in the world and the largest country in Africa and the Mediterranean. Its GDP growth is driven mainly by investment by public enterprises and private demand.
5. Angola (GDP $124 Billion)
Officially the Republic of Angola, this country is a member state of the African Union. It is Africa’s second largest oil producer. Its Economic Growth is driven by agriculture, non-oil energy, fisheries, construction and manufacturing sectors.
6. Sudan (GDP $118 Billion)
Sudan’s GDP growth is driven mainly by mining and agriculture; and the inflows from oil transit fees and the transitional financial arrangement (TFA) with South Sudan.
7. Morocco (GDP $110 Billion)
The Gross Domestic Product (GDP) in Morocco was worth 101.45 billion US dollars in 2016. But reached an all time high of 110 USD Billion in 2017.
8. Ethiopia (GDP $79 Billion)
Now worth at $79 billion, the GDP value of Ethiopia represents 0.12 percent of the world economy. GDP in Ethiopia averaged 18.65 USD Billion from 1981 until 2017. reaching an all time high of 79.37 USD Billion in 2017.
9 Kenya (GDP $78 Billion)
Kenya’s growth is driven by tourism, financial intermediation, agriculture and construction. The current GDP value of Kenya represents 0.11 percent of the world economy.
10 Tanzania (GDP $51 Billion)
The Gross Domestic Product (GDP) in Tanzania is worth 47.43 billion US dollars. I.e it represents 0.08 percent of the world economy.
Data complied from: IMF