African countries are competing relatively well with some big economies in the world. With the advancement in infrastructure and ever growing economy, most African countries are 10 steps ahead of where they were some 5 years ago. But much is yet to be tapped in technological advancement and industries.
Africa is the richest continent yet most of the countries in Africa have remained poor for much longer time. Most valuable mineral deposits and oil fields are found on the African continent with many remaining unexploited. We take a look at the ranking of richest African countries by GDP.
Major earners in most of these African countries comes from exports of natural resource such as row materials in minerals, agriculture, tourism and industries. These have been the major drivers of the economies in most African countries.
Nigeria is the richest African Countries with a GDP of $446.5 Billion followed closely with South Africa with a GDP of $358.8 Billion. Below is the full list of top ten richest African Countries by GDB as of 2020.
List of Top 10 African Richest Countries By GDP
|COUNTRY||GDP ($)||MAJOR SOURCES|
|2||South Africa||$358,839 Billion||Gold, Iron ore and Platinum group metals|
|3||Egypt||$302,256 Billion||Gas extractives, Tourism, wholesale and retail trade, Real estate and Construction|
|4||Algeria||$172,781 Billion||Oil and Natural Gas|
|5||Morocco||$119,04 Billion||Industries, Agriculture|
|6||Kenya||$98,607 Billion||Agriculture, Tourism|
|7||Angola||$91,527 Billion||Oil and Natural Gas|
|8||Ethiopia||$91,166 Billion||Agriculture, Manufacturing|
|9||Ghana||$67,077 Billion||Cocoa, Crude oil, Gold and Timber|
|10||Tanzania||$62,224 Billion||Farming, Mining, Tourism|