Richest countries in Africa (2020)

Richest countries in Africa (2020)

  • Post published:February 24, 2020
  • Post category:General

1. Nigeria

With a GDP of $444.916bn and the continent’s largest population (190.9 million 2017), sourced from World BankUnited States Census Bureau. Nigeria is the economic powerhouse with abundant natural resources including cocoa, oil, and rubber.

2. South Africa

South Africa has the second-largest economy in Africa, falling behind Nigeria with a GDP of $371.298bn. South Africa is the world’s second-largest producer of gold. With a population of 56.72 million as of 2017 (World Bank)

3. Egypt

Egypt has a GDP of $299.589bn and a population of 97.55 million (2017) by the World Bank and Eurostat. The country’s main exports include insulated wire, video displays, petroleum, and gold. The GDP in 2017 was $237.037bn

4. Algeria

Algeria has a population of 41.32 million (2017) as stated by the World Bank. With a GDP of $183.687bn and Petroleum and natural gases being the country’s most important mineral resources. Mostly into manufacturing and mining in terms of export, Agriculture also plays a minor role in its economy.

5. Morocco

Tourism, telecoms and the textile sector recorded the highest growth in Morocco. The country has a GDP of $ 121.350bn and a population of 35.74 million (2017). Important exports include inorganic chemicals, transistors, citrus fruits, vegetables, and fish.

6. Kenya

A GDP of $ 99.246bn and a population of 49.7 million (2017).  Kenya had a GDP of $79.511bn in 2017 and was in number 8 in the top 10 rankings. Trade is a major part of the country’s growth. Kenya produces tea, coffee, pyrethrum, corn and wheat confirming its rich Agricultural sector.

7. Angola

Angola is a Southern African nation with a population of 29.78 million (2017) sourced from the World Bank and a GDP of $92.191bn.

8. Ethiopia

Ethiopia has a GDP of $90.968bn and a population of 105 million (2017), World Bank.  It had a GDP of $80.874bn in 2017. Ethiopia’s major exports include natural gum, leather, textiles, spices, coffee, and mineral products.

9. Ghana

A rare foray for Ghana, as they rose into the top 10. The Republic of Ghana is a country located along the Gulf of Guinea and the Atlantic Ocean. With a GDP of $ 68.258bn and a population of 28.83 million (2017), World Bank.  Ghana exports oil, gold, cocoa, timber, tuna, bauxite, aluminum, manganese ore, diamonds, and horticultural products.

10. Tanzania

In 2017, according to the IMF, Tanzania’s GDP was $51.725bn and now with a rise to $61.032bn. Tanzania has a population of 57.31 million (2017), World Bank. The countries’ exports include cashew nuts, gold, coffee, and cotton leaving Agriculture its reliable source. Tanzania’s tourism is also on the up.

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