Although GDP is usually calculated annually, quarterly reports are also available.
The 10 African countries with the highest GDPs are below.
The data used in this article comes from Statisticala reputable global data repository company specializing in providing market intelligence and consumer data.
- Nigeria (world ranking: 27th)
With more than 200 million inhabitants, this West African country represents a considerable part of the African economy. Nigeria is Africa’s richest country, with a GDP of just over $514 billion.
2. Egypt (world ranking: 36th)
For many years, this ancient region of North Africa held the title of the richest country in Africa. The economy, however, has been badly affected and foreign exchange reserves have plummeted following the 2011 Arab uprising. As a result, Egypt is currently the second richest country on the list, with a GDP of 394, $28 billion.
3. South Africa (world ranking: 42nd)
As the third richest country on the continent, this southernmost country is a big player. The country is considered one of the most dynamic in the world, with a highly developed economy, excellent infrastructure and a GDP of over 400 billion dollars.
South Africa is the only country on this list that does not depend on a single source of income. It is the most industrialized and technologically advanced country in Africa.
4.Algeria (World ranking: 58th)
It is the second North African country on the list. According to the IMF, Algeria has a GDP of 151.46 billion dollars, the fourth in Africa.
5.Morocco (World ranking: 60th)
Morocco ranks fifth among the richest African countries, with a GDP of around $124 billion. The economy of this North African country is diverse and stable, with growth in various industries over the past decade. It is also the second richest non-oil producing nation in Africa.
6.Kenya (World Ranking: 65th)
This East African country has a GDP of $106.04 billion. It is the only East African country to feature in the top 10.
7. Ethiopia (World Ranking: 66th)
Ethiopia, a landlocked country divided by the Great Rift Valley, is the seventh richest country in Africa, with a GDP of $93.97 billion. With archaeological artifacts dating back millions of years, this historic land is famous for being the birthplace of the coffee bean. As a result, the country produces the most coffee and honey in Africa.
8.Ghana (World Ranking: 74th)
Ghana is the second West African country on the list. That just makes this list of the richest countries on the continent, with a GDP of $74.26 billion. It is the first country in sub-Saharan Africa to gain independence from colonial rule and the first to halve extreme poverty.
9.Angola (World Ranking: 75th)
Angola is home to one of the largest reserves of raw materials on the continent. However, the country’s economy collapsed due to mismanagement of resources and internal corruption. It is ranked number 8 on this list, with a GDP of $66.49 billion.
10.Tanzania (world rank: 77th)
With a GDP of $65.92 billion, Tanzania ranks among the ten richest African countries. The country has a lower-middle-income mixed economy and is home to several of Africa’s most famous national parks, including Kilimanjaro.