Glusea brings to the Richest Countries in Africa 2023
The ranking of the top 20 richest countries in Africa 2023 by Glusea.com is based on Gross Domestic Product(GDP) at purchasing power parity (PPP). The figures below were obtained from the International Monetary Fund, World Bank Economic Data, and Trading Economics. Africa is one of the largest continents in the world by landmass 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 2023
Top 20 Richest Countries in Africa
EGYPT
Peak value of GDP (PPP): $1,391.734
Egypt richest country in the richest country in Africa. 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
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
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
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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