After all, Africa isn’t just wars and hunger, as the 11 biggest economies in Africa will show you. While the continent overall retains its status as highly problematic, especially in certain regions, Africa still has some economies of considerable size. The poverty there is spread all around the continent, in developed areas and rural ones alike. Nonetheless, the countries on this list still manage to produce enough to have a some of the highest GDP across the whole continent.
However, before you go on to the list, you should know that these results don’t represent the wealth of a nation, nor do they represent the standard of living. Some places where the population is wealthy and enjoys a higher standard of living than the average can have very low GDP ratings just because they have a small population and therefore – a small economy which doesn’t sell too many products or services. If you are looking for a more safe and peaceful place to visit there, you can check our list of the 10 best places to visit in Africa that are beautiful and safe and while you might find some matching results, the positions on this list only reflect the money a country makes in a given year.
In reality, a bigger population does not mean a bigger economy, as you could see by comparing this list with a list of the African countries by size. Extreme poverty and a lifestyle which remains fairly primitive in modern terms and which lets families produce as much or less than they need to live with are just two of the things that stop a big country’s population from contributing to the rate of its GDP. To make it on this list, a country’s population has to be active in the production of products and services which this country offers on markets in or outside of it. Some of these countries are popular in tourist circles, some are exporters of precious minerals or fuel and others are a neat combination of the two. No matter how, though, all of these countries are on top of the economic chain in Africa. Let’s see which those are.
11. Tunisia
GDP(billions): 49.122
After achieving market freedom, Tunisia has grown into an export-oriented country which also benefits a lot from tourism and is increasingly developing better tourist amenities.
10. Libya
GDP(billions): 49.341
Libya, like many other countries in the region, depends mainly on its oil production and related industries. What is more, Libya holds the biggest oil reserve in Africa to date.
9. Ethiopia
GDP(billions): 49.857
Ethiopia is and has been one of the fastest growing economies not just in Africa but worldwide. However, the per capita GDP remains on the other end of the spectrum, being some of the lowest in the world.
8. Kenya
GDP(billions): 53.400
While Kenya is one of the least developed and slowest developing countries in the world as far as the population and standard of life go, it is one of the biggest economies on the continent mainly due to tourism.
7. Sudan
GDP(billions): 70.030
Sudan’s economy has survived through a multitude of crisis periods and stands stronger today as one of the fastest growing economies in the world. This is mainly due to oil export and related services.
6. Morocco
GDP(billions): 112.552
Morocco is one of the countries with the highest quality of life and living standards in Africa. It takes the sixth place in the biggest economies of Africa mainly due to its exports of wire and chemical products.
5. Angola
GDP(billions): 131.407
Africa’s fastest growing economy depends on the export of many precious metals and minerals like gold and diamonds. Furthermore, the country exports fuels and oil products and has an increasingly growing agricultural production.
4. Algeria
GDP(billions): 227.802
Algeria’s economy is held together by petroleum related products of all sorts to an extent that this industry covers more than eighty percent of Algeria’s export. However, the state is trying to diversify its industry.
3. Egypt
GDP(billions): 324.267
Egypt benefits strongly from tourism, which has grown to be one of the most valuable sectors of the country’s economy. The production of oil products and the export of oil are also strong sectors for the country.
2. South Africa
GDP(billions): 352.528
South Africa is a popular tourist destination which also has several other sectors who have a substantial contribution to the country’s GDP. It is one of the most developed countries in the continent.
1. Nigeria
GDP(billions): 657.218
Nigeria tops the list of 11 biggest economies in Africa with the largest GDP estimate for 2015. The country’s population is mainly employed in agriculture, but there are various other strongly developed sectors of their industry including oil export and products.
