Top 10 biggest economies in Africa as of 2021

Top 10 biggest economies in Africa as of 2021

GDP is used to measure the size of the economy of a country, of which is the market value of all goods and services of a nation in a year. The economies of Africa have been largely affected by population of its citizen as well as mineral resources plus goods and services that their market produce.

NOTE: For the abbreviated words you can click on them to see what they mean.

Below I have ranked from the tenth to the first:

Country Nominal GDP
(in billions)
Peak value of GDP (PPP) as of 2021
(in Billions of International dollars)
Annual Growth
(%)
GDP Per Capita
(in thousands)
ANGOLA$62.724$221.326-4%$2,021.31

Angola has been boosted by sectors such as oil production, manufacturing, fishing, agriculture and non-oil energy. In fact Angola is the second largest oil producer in Africa after Nigeria.

Department and city businesses
Country Nominal GDP
(in billions)
Peak value of GDP (PPP) as of 2021
(in Billions of International dollars)
Annual Growth
(%)
GDP Per Capita
(in thousands)
TANZANIA$64.123$171.0061.9%$1,105.55

The Tanzanian economy is favored by various industries such as manufacturing, communications, tourism, construction, agriculture, transport, and intermediation. Its growth rate of 1.9% as been good especially during the COVID pandemic.

Country Nominal GDP
(in billions)
Peak value of GDP (PPP) as of 2021
(in Billions of International dollars)
Annual Growth
(%)
GDP Per Capita
(in thousands)
GHANA$73,594
$186.682
0.9%$2,374

The country has a diverse economy of which it has been vibrant in manufacturing and exportation of digital technology goods, automotive, ship construction and exportation, as well as the exportation of diverse and rich resources such as hydrocarbons and industrial minerals. it is Africa largest producer of Gold and other minerals such as  diamonds, manganese ore, bauxite, and oil.

Country Nominal GDP
(in billions)
Peak value of GDP (PPP) as of 2021
(in Billions of International dollars)
Annual Growth
(%)
GDP Per Capita
(in thousands)
ETHIOPIA$95.588
$291.495
1.9%$974.09

Ethiopian economy is largely depending on fishing, agriculture, transport, minerals mining, manufacturing energy and tourism. The country has been privatizing government parastatals since it has a large public sector which means the government has over 50% of the market sector.

Country Nominal GDP
(in billions)
Peak value of GDP (PPP) as of 2021
(in Billions of International dollars)
Annual Growth
(%)
GDP Per Capita
(in thousands)
KENYA$101.048
$262.669
1%$2,075.22

Kenyan economy has been growing over decades which has be enabled through vibrant activities in agriculture, forestry, fishing, mining, manufacturing, energy, construction, tourism and financial intermediation. With ongoing mega projects the economy is growing further, the development of infrastructure has made it easier to do business. The has been ranked 56th nation which is easy to do business from 61st in 2019 from list of 190 countries. Also the country earn from its citizens working abroad who contribute highly in the economy.

A Masai Giraffe (Giraffa camelopardalis tippelskirchii aka Kilimanjaro giraffe) and her calf in Nairobi National Park with the city in the background.
Country Nominal GDP
(in billions)
Peak value of GDP (PPP) as of 2021
(in Billions of International dollars)
Annual Growth
(%)
GDP Per Capita
(in thousands)
MOROCCO$112.220
$289.954
-7%$3,121.38

The economy of morocco is made up of mining, construction, manufacturing, tourism, telecommunication, transport, agriculture, fishing and textile. its geographic position has been important for its economy, being close to Europe.

Country Nominal GDP
(in billions)
Peak value of GDP (PPP) as of 2021
(in Billions of International dollars)
Annual Growth
(%)
GDP Per Capita
(in thousands)
ALGERIA$147.323
$516.522
-5.5%$3,331.08

Algeria is the 3rd highest in oil production after Angola in Africa, 97% of its export is oil contributing high on its economy. Its geographic position has been a benefit, being close to Europe just like Morocco.

Seaside boulevard in Algiers, the capital of Algeria. North Africa
Country Nominal GDP
(in billions)
Peak value of GDP (PPP) as of 2021
(in Billions of International dollars)
Annual Growth
(%)
GDP Per Capita
(in thousands)
SOUTH AFRICA $317.19
$761.824
-8%$5,240

It is the most industrialized, technologically advanced, and diversified economy on the African continent. it quite a number of minerals mined in the country contributing highly on the economy which include gold, platinum, chromium, manganese, titanium, cobalt phosphate, vanadium, iron ore and uranium. In 2008, South Africa’s estimated share of world platinum production amounted to 77%; kyanite and other materials, 55%; chromium, 45%; palladium, 39%; vermiculite, 39%; vanadium, 38%; zirconium, 30%; manganese, 21%; rutile, 20%; ilmenite, 19%; gold, 11%; fluorspar, 6%; aluminium, 2%; antimony, 2%; iron ore, 2%; nickel, 2%; and phosphate rock, 1%.[63] South Africa also accounted for nearly 5% of the world’s polished diamond production by value.[63] The country’s estimated share of world reserves of platinum group metals amounted to 89%; hafnium, 46%; zirconium, 27%; vanadium, 23%; manganese, 19%; rutile, 18%; fluorspar, 18%; gold, 13%; phosphate rock, 10%; ilmenite, 9%; and nickel, 5%.[63] It is also the world’s third largest coal exporter. Other industry include Agriculture and food processing, manufacturing, tourism, telecommunication, transport, financial services, informal sector, business process outsourcing. in the African continent this is the nation that is profiting from many sectors of its market.

Country Nominal GDP
(in billions)
Peak value of GDP (PPP) as of 2021
(in Billions of International dollars)
Annual Growth
(%)
GDP Per Capita
(in thousands)
EGYPT $374.89$1,346.225
3.5%$3,610

Egypt is non-oil producing nation, it is favored most by it geographical position and the Suez canal which most ships in the world use as a route to Europe rather than going around the world. The country also depend on River Nile water for its agricultural production and energy. It is the most important manufacturer of weapons and military components among the Arab countries.

Country Nominal GDP
(in billions)
Peak value of GDP (PPP) as of 2021
(in Billions of International dollars)
Annual Growth
(%)
GDP Per Capita
(in thousands)
NIGERIA $466.88

$1,116.255

-4.3%$2,2100
flag, nigeria, africa-1208864.jpg

Despite being the biggest oil producer in Africa, Nigeria also focusses on Other sectors compared to other oil producing nation. it is the most populous nation in Africa with most of the citizens embracing agriculture, textile, transportation, energy, telecommunication, fishing and mining of minerals.

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