Which economy is the largest in Africa?

GDP of African countries 2021, by country. Nigeria’s GDP amounted to 441.5 billion U.S. dollars in 2021, the highest in Africa. To follow, South Africa’s GDP was worth 418 billion U.S. dollars and ranked as the second-highest on the continent.

What is the GDP of Africa?

$2.6 trillion
Economy of Africa

Population 1.307 billion (16%; 2019)
GDP $2.6 trillion (Nominal; 2019) $6.7 trillion (PPP; 2019)
GDP growth 3.7%
GDP per capita $1,970 (2021; 6th)

What is the strongest economy in North America?

The United States is the largest economy in North America, comprising over 86% of the continent’s gross domestic product.

  • United States (86.12%)
  • Canada (6.79%)
  • Mexico (5.03%)
  • Other (2.06%)

Which city has the largest economy in Africa?

Johannesburg Founded in the Witwatersrand Gold Rush of 1886, this is the wealthiest city in Africa. Most of Johannesburg’s wealth is concentrated in Sandton, home to the JSE (the largest stock market in Africa) and the head offices of most of Africa’s largest banks and corporates.

Is Lagos the 4th largest economy in Africa?

Lagos State, smallest state in Nigeria by landmass, yet the most industrialised city in Nigeria and sub-Sahara Africa. Lagos is Nigeria’s second most populated state after Kano with over 20 million inhabitants. It is the fourth biggest economy in Africa by Gross Domestic Product (GDP).

Which country in Africa has a good economy?

GDP per capita: $2,355 (nominal, 2022 est.) This West African country, with a population of over 200 million citizens, makes up an essential part of the African economy. With a GDP just over $510 billion, Nigeria holds the position of the richest country in Africa.

Is Lagos the 5th largest economy in Africa?

Lagos is Nigeria’s second most populated state after Kano with over 20 million inhabitants. It is the fourth biggest economy in Africa by Gross Domestic Product (GDP).

Is Lagos State the 5th largest economy in Africa?

Lagos State is a major economic centre of Nigeria. It would be the fifth largest economy in Africa if it were a country. Lagos State houses headquarters of most conglomerates and commercial banks in Nigeria.

Which country in Africa is richest in 2021?

In terms of total GDP (PPP INT$), Egypt wins out as the richest country in Africa for 2021. With 104 million people, Egypt is Africa’s third-most populous country.

What is the second biggest economy in Africa?

List of African countries by GDP (nominal)

Rank Country Nominal GDP (Billion US$)
1 Nigeria 510.588
2 Egypt 435.621
3 South Africa 426.166
4 Algeria 193.601

What part of Africa is wealthy?

In Africa, the “Big 5” wealth markets are: South Africa, Egypt, Nigeria, Morocco and Kenya – together, these five countries account for over 50% of Africa’s total wealth, according to data from the 2021 Africa Wealth Report.

What is the largest economy in Africa?

Largest Economies In Africa. 2. South Africa – GDP: $349.3 billion. Just behind Nigeria, South Africa is the second African biggest economy. In many aspects of development, South Africa has attained some impressive feats and these make it one of the most powerful African countries.

Which countries in Africa have the highest GDP growth rate?

After South Africa, the third largest economy, two North African countries – Algeria and Morocco – followed in the list. African economies are growing fast. Among the countries with the highest GDP growth rate worldwide, African nations dominated the ranking.

What was the economic growth rate of Kenya in 2013?

However, the government strove hard to restore its economic strength, and consequently in 2013, Kenya experienced the growth rates of 5.2% increase, 4.3% increase, and 4.6% increase for the first, second and third quarters respectively.

Is Africa’s economy most dependent on oil?

Indeed, Libya is one of the economies most dependent on oil worldwide. Similarly, oil represents for some of Africa’s largest economies a substantial source of export value. Most of Africa’s largest economies do not appear in the leading ten African countries for GDP per capita.

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