List of Top 10 Richest African Countries in 2017
GDP – $43.02 billion, GDP (PPP) Per Capita: $11,400, Population: 11,431,780
Tunisia has one of the best run economies in the continent. is an auto manufacturing parts hub. On the world economic forum global competitive report of 2015-2016 Tunisia has taken the 92nd place.
GDP – $29.152 billion, GDP (PPP) Per Capita: $14,600, Population: 6, 278,438
81% of the total GDP of Libya economy is fueled by predominantly revenues from oil sector and almost 96% of its total export. The World Bank has enlisted Libya among the few African countries with an upper middle economy.
GDP – $102.643 billion, GDP (PPP) Per Capita: $7,300 , Population 20,172,332
Angola’s economy has is overwhelmingly steered by the oil sector which account to 51% of the GDP and also more than 75% of government revenue and about 91% of the country’s total exports. Other exports that boosts the economy are diamonds which account to 5% of total exports. Although most of the countries food is imported the country population practices agriculture.
GDP – $14.391 billion, GDP (PPP) Per Capita: $16,400, Population 2262445
To the south of Africa continent you will meet the landlocked country which has taken its place as one of the fastest growing economies in Africa a factor that can be attributed by mining, cattle and tourism sector. Its impressive economic boom can be pinpointed to the diamond mining, cautious foreign policy, prudent fiscal policies and low rate of corruption. This is one amongst the Top 10 Richest African Countries 2017.
GDP – $14.34 billion, GDP (PPP) Per Capita: $18600, Population 1725292
In terms of square kilometres Gabon has 270,000. Its prosperous economy has been due to oil, manganese, uranium and timber, exports. The low population, foreign investment and political stability have also been a factor no wonder it has been ranked highest African country on Human Development index.
GDP – $330.779 billion, GDP (PPP) Per Capita: $11,800, Population 91508084
Egypt is on the record for being one of the world’s first nation state dating back 10th millennium BC.it is considered as one of the nations that experienced civilization and developments such as writing, agriculture, government, religion among others. Other factors that have contributed to the rise of Egypt are foreign investments and tourism as well
4. Equatorial Guinea
GDP – $9.4 billion, GDP (PPP) Per Capita: $31800, Population 845,060
Equatorial Guinea is located in central Africa region and hails the fame for being the only African country where Spanish is the official language.it has an area of 28,000 square kilometres making it one of the smallest states in Africa even in terms of population. The country also has some undeveloped resources such as uranium, iron ore, gold and titanium
3. South Africa
GDP – $312.798 billion, GDP (PPP) Per Capita: $13200, Population 54,956,920
One of the countries with high GDP than many countries in Africa and the 25th largest country by surface area in the world as well as 24th global rank in relation to being populous is South Africa. The World Bank and IMF has categorized has been a major source of revenue for the country as well and in addition foreign investment.
GDP $594.257 billion, GDP (PPP) Per Capita $6003, population 173,600,000
The IMF has projected that Nigeria is set to take its place as the biggest African economy as of 2016 overtaking South Africa. Nigeria today holds the 21st position globally in relation to nominal GDP and 20th in relation to purchasing power parity and in 2013 the country was the 1st position in terms of re-emergent manufacturing sector which was the largest globally. Although the country is an oil producing country the oil only contributes 10% of the total GDP. Crude oil exports as of 2016 earned the country $74B, petroleum gas earned the country $13B, refined petro $4.23B, pyrophoric Alloys $1.9 B among others. The economy of Nigeria also flourishes under aircraft parts exports, vessels, cocoa, tobacco, processed food and spirits and vinegar exports.
GDP – $1.438 billion, GDP (PPP) Per Capita: $26300, Population 92900
World Bank on 2015 elevated the status quo of Seychelles to top earning country this is due to its position as the highest nominal per capita GDP in Africa and also ranks as one of the countries in Africa with highest human development index. The country low population, offshore financial industry fishing industry and tourism sector has made the country to the richest country in Africa. You won’t believe it that the country has just 1% unemployment rate hence taking its place among the richest states in Africa.