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Which African countries have the highest GDP-PPP per capita?
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Jan 24, 2024 · When you go by GDP per capita PPP, these 10 African countries come up as the richest as of January 24, 2024. Mauritius, Libya, and Botswana lead the list with the highest GDP-PPP per capita...
- Using Gross Domestic Product (GDP) to Measure The Wealth of African Countries
- Top 10 Richest African Countries by Overall GDP*
- Shortcomings of GDP and Strengths of GDP Per Capita and GNI Per Capita
- Richest African Countries by GDP Per Capita (Current US$ - World Bank)*
- Gross National Income (GNI) Per Capita of African Economies
While there are several ways to compare various nations' wealth, one of the best methods is to evaluate each country's gross domestic product, or GDP. This is the value of all the goods and services produced by a nation in a given year. GDP is typically expressed in one of two ways. The first is in current US dollars (USD or US$). The second method...
Ranked by GDP in current USD, Nigeria comes out as the richest country in Africa during the year 2021. Nigeria is the most populous country in Africa, with 211 million residents—nearly twice the population of Egypt—contributing to its GDP. Nigeria is a lower-middle-income, mixed economy focused upon petroleum and (to a lesser extent) agriculture. I...
Although GDP is an extremely valuable metric, it is also quite broad. For example, it disregards the number of citizens contributing to a country's GDP, which means a country with a vast, but less effective workforce can post a higher GDP than a country with a smaller, but more efficient workforce. GDP can also be distorted by the financial sector ...
Switching the measurement to GDP per capita has a significant impact on the list of Africa's richest countries. Seychellesis the richest country when using this metric. The Seychelles economy is primarily driven by fishing, tourism, boat building, processing coconuts and vanilla, and agriculture, especially cinnamon, sweet potatoes, tuna, and banan...
A final metric often used by economists to compare the wealth of different countries is gross national income, or GNI. While GDP measures the value of the goods and services a country creates, GNI measures the total income obtained through those goods and services. GNI also tracks money that enters or exits a country's economy as part of internatio...
Country Nominal GDP (Billion US$) Per Capita (US$) 1 South Africa: 373.233 5,974.912 2 Egypt: 347.594 3,224.868 3 Algeria: 266.780 5,721.678 4 Nigeria: 252.738 1,109.899 5 Ethiopia: 205.130 1,909.984 6 Morocco: 152.377 4,077.525 7 Kenya: 104.001 1,983.099 8 Angola: 92.123 2,431.580 9 Côte d'Ivoire: 86.911 2,717.404 10 Tanzania: 79.605 1,220.356
RankCountryNominal Gdp (billion Us$) [1]Per Capita (us$) [1]1373.2335,974.9122347.5943,224.8683266.7805,721.6784252.7381,109.899Country GDP (PPP) GDP per capita Peak year Africa: 9,490.335: 5,921.88: 2024 Egypt: 1,898.538: 14,927.59: 2024 Nigeria: 1,443.708: 5,852.61: 2024 South Africa: 1,025.930: 15,361.30: 2024 Algeria: 768.521: 16,438.44: 2024 Ethiopia: 431.688: 3,407.21: 2024 Morocco: 409.073: 9,041.24: 2024 Kenya: 365.854: 6,061.42: 2024 Angola: 270.981: 7,359.58 ...
CountryGdp (ppp)Gdp Per CapitaPeak YearAfrica [2]9,490.3355,921.8820241,898.53814,927.5920241,443.7085,852.6120241,025.93015,361.302024- Seychelles. GDP per capita: $9,670. The richest country in Africa in terms of GDP per capita is Seychelles, which is an archipelago made up of 115 islands in the Indian Ocean off of Africa’s east coast.
- Mauritius. GDP per capita: $9,640. The second-richest country in Africa is another island nation in the Indian Ocean: Mauritius. There are also similarities between Seychelles and Mauritius in terms of economy.
- Gabon. GDP per capita: $8,600. Third on the list of the richest countries in Africa is Gabon, which is located on Africa’s west coast on the equator. Gabon gained independence from France in 1960, and three presidents have served terms in the country since.
- Equatorial Guinea. GDP per capita: $8,070. Most of Equatorial Guinea is located just north of the equator and Gabon on Africa’s west coast. There is also a small insular region that consists of islands in the Gulf of Guinea.
Oct 24, 2023 · Seychelles has the highest GDP per capita in Africa at $14,653, followed by Mauritius at $9,106 and Gabon at $8,635. These countries consistently rank among the top in terms of GDP per capita in Africa, reflecting their strong economies and high-income levels.
10 Richest Countries in Africa (GNI per Capita): Seychelles - $15,874.5; Mauritius - $10,216.3; Gabon - $8,820.3; Botswana - $7,737.7; Equatorial Guinea - $7,053.5; South Africa - $6,776.5; Libya - $6,716.1; Namibia - $4,911.3; Egypt - $4,295.4; Algeria - $4,273.9
