Top 20 Richest Countries in Africa 2019

The ranking of the richest countries in Africa 2019 by Glusea.com is based of Gross Domestic product(GDP) at purchasing power parity (PPP).  The figures below  were obtained from International  Monetary Fund,  World Bank Economic Data and Trading Economics. Africa is one of the largest continents in the world by land mass and is also  known to have a larger number of poorest countries in the world, however, there are wealthy countries in the continent of Africa. Below is the list of the top 20 richest countries in Africa.

Top 20 Richest Countries in Africa 2019

EGYPT 

Peak value of GDP (PPP):  $1,391.734

Egypt richest country in the richest country  in Africa in 2019 with a GDP of $249.559 billion. The origin of the GDP of Egypt is most agriculture, industry and services. Egypt is the third largest economy in the Arab world. Services are the most important sector of the economy and account for around 47.5 percent of total GDP

NIGERIA

Peak value of GDP (PPP):  $1,214.827

Nigeria’s gross domestic product advanced 2.0 percent year-on-year in the first quarter of 2019, easing from a 2.4 percent expansion in the previous period and below market expectations of 2.1 percent, mainly due to a steeper contraction in the country’s oil sector. GDP Annual Growth Rate in Nigeria averaged 3.83 percent from 1982 until 2019

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SOUTH AFRICA

Peak value of GDP (PPP) : $813.100

The South African economy shrank an annualized 3.2 percent on quarter in the three months to March of 2019, following a 1.4 percent growth in the previous period and compared with market expectations of a 1.7 percent contraction.

ALGERIA

Peak value of GDP (PPP) 684.649

The economy of Algeria advanced 1.5 percent in the first quarter of 2019, following a downwardly revised 2.3 percent growth in the previous period. Output rose at a softer patch for construction (2.9 percent vs 8.6 percent in Q4); agriculture (2.7 percent vs 3.8 percent) and manufacturing (4.6 percent vs 4.7 percent).

MOROCCO

Peak value of GDP (PPP) 330.381

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The economy of Morocco advanced 2.8% from a year earlier in the first quarter of 2019, following a 2.9% expansion in the previous period. Output rose at slower pace for wholesale & retail trade (3.8% vs 4.5% in Q4); finance & insurance (2.5% vs 3.9%); post and telecommunications (2.3% vs 2.7%) and manufacturing (2.5% vs 3.9%).

ETHIOPIA

Peak value of GDP (PPP) 240.705

The Gross Domestic Product (GDP) in Ethiopia expanded 9.20 percent in 2018 from the previous year. GDP Annual Growth Rate in Ethiopia averaged 5.88 percent from 1981 until 2018, reaching an all time high of 13.90 percent in 1986 and a record low of -11.10 percent in 1984.

GHANA

Peak value of GDP (PPP) 211.127

The Gross Domestic Product (GDP) in Ghana expanded 1.60 percent in the first quarter of 2019 over the previous quarter. GDP Growth Rate in Ghana averaged 1.62 percent from 2006 until 2019, reaching an all time high of 7.40 percent in the first quarter of 2011

ANGOLA

Peak value of GDP (PPP) 203.763

The economy of Angola shrank 0.4 percent year-on-year in the first quarter of 2019, after an upwardly revised 2.6 percent growth in the previous period. The downturn mainly reflected declines in oil extraction and refining (-6.9% vs -9.6% in Q4); manufacturing (-6.5% vs 9.2%); internal trade (-3.2% vs 24%); post & telecommunications (-6.8% vs 9.3%); finance & insurance (-4.8% vs 18.7%) and fishing (-7.4% vs -24.6%). Also, output growth weakened markedly for extraction of diamonds and other minerals (0.1% vs 1.5%) and utilities (9.9% vs 17.2%). In contrast, construction rose solidly (11.3% vs 5.7%).

KENYA

Peak value of GDP (PPP) 190.970 

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The Gross Domestic Product (GDP) in Kenya expanded 1.66 percent in the first quarter of 2019 over the previous quarter. GDP Growth Rate in Kenya averaged 1.34 percent from 2005 until 2019, reaching an all time high of 3.80 percent in the third quarter of 2010 

LIBYA

Peak value of GDP (PPP) 187.796

The Gross Domestic Product (GDP) in Libya expanded 10.90 percent in 2018 from the previous year. GDP Annual Growth Rate in Libya averaged 5.26 percent from 2000 until 2018

TANZANIA 

Peak value of GDP (PPP) 186.060 

Tanzania’s economy advanced 6.6 percent year-on-year in the first quarter of 2019, slowing from a 7.1 percent growth in the previous period, mainly due to smaller gains in construction (13.2 percent vs 17.3 percent in Q4), manufacturing (4.8 percent vs 16.7 percent) and trade & repair (3.8 percent vs 8.0 percent).

SUDAN

Peak value of GDP (PPP) 177.678

The Gross Domestic Product (GDP) in Sudan expanded 4.10 percent in 2018 from the previous year. GDP Annual Growth Rate in Sudan averaged 4.24 percent from 2005 until 2018, reaching an all time high of 7.70 percent in 2006 and a record low of 1.40 percent in 2012

TUNISIA

Peak value of GDP (PPP) 150.834

The economy of Tunisia advanced 1.2 percent year-on-year in the second quarter of 2019, little changed from a 1.1 percent growth in the previous period. Output rebounded for agriculture & fisheries (2.8 percent vs -0.7 percent in Q1) while contracted for manufacturing (-0.8 percent vs -0.9 percent) and services (-2.6 percent vs -0.7 percent). On a quarterly basis, the GDP rose 0.5 percent, after an upwardly revised 0.2 percent advance in the previous quarte

COTE D’IVOIRE

Peak value of GDP (PPP) 117.030

The Gross Domestic Product (GDP) in Ivory Coast expanded 7.20 percent in the first quarter of 2019 over the same quarter of the previous year.

UGANDA

Peak value of GDP (PPP) 104.893

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The Gross Domestic Product (GDP) in Uganda expanded 0.30 percent in the first quarter of 2019 over the previous quarter.

CAMEROON

Peak value of GDP (PPP) 101.124

The economy of Cameroon advanced 4.2 percent year-on-year in the first quarter of 2019, following a downwardly revised 3.5 percent growth in the previous period

DEMOCRATIC REPUBLIC OF CONGO

Peak value of GDP (PPP) 77.441

ZAMBIA

Peak value of GDP (PPP) 76.520

The Gross Domestic Product (GDP) in Zambia expanded 3.70 percent in 2018 from the previous year.

SENEGAL

Peak value of GDP (PPP) 47.335

The Gross Domestic Product (GDP) in Senegal expanded 1.20 percent in the third quarter of 2018 over the previous quarter

MALI 

Peak value of GDP (PPP) 44.028

The Gross Domestic Product (GDP) in Mali expanded 4.40 percent in the first quarter of 2019 over the same quarter of the previous year.

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