In terms of GDP, Nigeria is by far the richest country in Africa in 2017, according to recent figures from the African Development Bank (AfDB), published in Abidjan in mid-October.
Thanks to strong oil production and the recovery in world commodity prices, Nigeria’s current-price GDP, which accounts for more than 72 percent of all West African economies, is expected to reach $ 581 billion this year ($ 519 billion in 2016).
Far behind comes South Africa (2nd), just recovering from recession in the second quarter. The wealth created during this calendar year by South African residents could surpass the $ 276 billion mark.
Relegated to the third rank by the rainbow nation, Egypt whose economy is still convalescent, marks the presence of the first North African country in this ranking, thanks to a volume of activity that could be around $ 264 billion .
Then follows Algeria, which could total $ 170 billion, completing the top quartet and the Sudanese economy which will weigh at the end of this year, $ 124 billion. The latter outperforms Morocco (6th) which, despite the dynamism of its economy marked by a sharp start of diversification. Driven by a growth of at least 4%, the GDP of the Moroccan Kingdom should cross the $ 121 billion mark at the end of this year. Morocco will double the size of its economy in 12 years.
With $ 104 billion, Angola will remain the seventh richest country in Africa in 2017. A year earlier, the size of the economy of Africa’s second largest oil producer was $ 96 billion.
Ethiopia, the engine of African growth, should keep its 8th place with $ 93 billion against 84 billion in 2016. A leap confirms the forecasts of international institutions. The country which, in 12 years, has almost sextupled its GDP, should register this year the fastest growth in the world, ahead of countries like Myanmar (7.5%), Côte d’Ivoire (7.3% ) or India (7.2%).
Finally, Kenya ($ 77 billion) and Tanzania ($ 52 billion), all of the most dynamic sub-region of Africa (East), in terms of GDP, complete the top 10.
NB: This ranking is done by the Ecofin Agency, according to the data provided by AfDB. Ecofin Agency
- South Africa