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Top 10 African Economies

The 2016 African Economy Survey based on nominal GDP per capita is as follows:

  1. Nigeria- GDP: 1,192.00

Nigeria is a mixed and emerging economy. Nigeria boasts of the second largest stock exchange in Africa. Nigeria’s main industries are oil and gas, agriculture and people resources. Nigeria has a population of 181,563,000 and an unemployment rate of 13.9%.

Nigerian Central Bank, Abuja, Nigeria.
  1. Egypt- GDP: 995.97

Egypt runs a diversified economy. Egypt is a rising economy, it depends on remittances from workers are outside the country, oil, petrochemical, media and revenues of the Suez Canal. Egypt has a population of 89,125,000 and an unemployment rate of 12.0%.

  1. South Africa- GDP: 724.01

South Africa’s main industries are finance, real estate, business services, manufacturing, and government services. South Africa has a population of 54,957,000 and an unemployment rate of 26.6%.

  1. Algeria- GDP: 570.64

Algeria is the largest country in Africa. Algeria’s main industries are oil and gas, light industries and mining. Algeria has a population of 39,670,000 and an unemployment rate of 10.50%.

  1. Morocco- GDP: 247.53

Morocco operates a relatively liberal economy governed by the law of demand and supply. Morocco’s main industries are phosphates, rock mining and processing, high tech, and food processing. Morocco has a population of 34,380,000 and an unemployment rate of 9.6%.

  1. Angola- GDP: 185.25

Angola is Africa’s second largest producer of oil. Angola’s main industries are oil and gas, agriculture, non-oil energy, fisheries, construction and manufacturing. Angola has a population of 25,326,000 and an unemployment rate of 26.0%.

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  1. Sudan- GDP: 167.42

Sudan’s main industries are mining, agriculture, inflow from oil transit fees and the Transitional Financial Agreement (TFA) with South Sudan. Sudan has a population of 40,230,000 and an unemployment rate of 19.50%.

  1. Ethiopia- GDP: 159.22

Ethiopia’s main industries are food processing, beverages, textiles, leather and chemicals. Ethiopia has a population of 99,391,000 and an unemployment rate of 16.80%.

  1. Tanzania- GDP: 150.40

Tanzania’s main industries are agricultural processing and mining. Tanzania has a population of 51,046,000 and an unemployment rate of 10.30%.

  1. Kenya- GDP: 143.05

Kenya’s main industries are tourism, financial intermediates, agriculture and construction. Kenya has a population of 45,533,000 and an unemployment rate of 40.0%.

 

It is important to note that Africa is regarded as the poorest continent, and a growing economy. The slow pace of Africa’s development has been attributed to a lot of factors but topping the list are internal conflicts within states, corruption and bad leadership.

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