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Top 10 African Economies By Countries' GDP

Top 10 African Economies By Countries' GDP 

A data technology company, StatiSense has released results of its data analysis and research which indicates the top ten economies in Africa.

Despite the economic recession and put credit ratings, Nigeria and South Africa are the leaders on the continental economy ladder. The Nigerian economy stands at $448 billion to make it the leading economy on the continent while South African economy is valued at $351 billion.

Nigeria's economy has grown rapidly in the past decades, but it also faces significant challenges such as desertification, lack of infrastructure, and government corruption. Nigeria achieved its highest GDP value in 2014 at $568.5 billion, at $448.1 billion in 2019 as the 25th largest economy in the World.

However, economics experts have argued that giving the population of Nigeria, South African economy is much bigger than Nigeria. Nigeria GDP is way too bellow her population and that is reflection of unproductive population, says economic analyst Felix Babatunde.

“Largest part of Nigeria population are not productive contributing less or nothing to the Nation economy,” Babatunde opined.

South Africa is approximately 66 million and Nigeria is approximately 200 million with GDP $448 billion while South Africa’s GDP is $351 billion.

Egyptian economy follows in a close third place at $303 billion. Algeria comes a distant fourth position with $171 billion. Another northern African country, Morocco sits at fifth position $120 billion.

East African countries of Ethiopia and Kenya occupies the sixth and seventh spots in African economy ladder as they are few millions apart with $95.9 billions and $95.5 billions respectively.

Angola economy is rated at $88.8 billions and sits on the eighth spot while West Africa country of Ghana sits at the ninth spot $67 billions economy.

Tanzania is at the bottom of the ladder with $63.2 billions.

Content created and supplied by: Daily-Godly (via Opera News )

African Babatunde Felix Babatunde Nigeria South Africa


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