List of African countries by GDP (nominal)

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Gross domestic product (GDP) is the market value of all final goods and services from a nation in a given year. Countries in Africa are sorted by nominal GDP estimates based on 2013 data from the World Economic Outlook by the International Monetary Fund.'[1]

The figures presented here do not take into account differences in the cost of living in different countries, and the results can vary greatly from one year to another based on fluctuations in the exchange rates of the country's currency.[2] Such fluctuations may change a country's ranking from one year to the next, even though they often make little or no difference to the standard of living of its population.[3] Therefore these figures should be used with caution.

Some countries/regions may have citizens that are on average wealthy. These countries/regions could appear in this list as having a small GDP. This would be because the country/region listed has a small population, and therefore small total economy; the GDP is calculated as the population times market value of the goods and services produced per person in the country.[4]

Comparisons of national wealth are also frequently made on the basis of purchasing power parity (PPP), to adjust for differences in the cost of living in different countries. PPP largely removes the exchange rate problem, but has its own drawbacks; it does not reflect the value of economic output in international trade, and it also requires more estimation than nominal GDP.[5] On the whole, PPP per capita figures are more narrowly spread than nominal GDP per capita figures.[6]

List[edit]

The 2014 estimates are as follows:[7]

RankCountryGDP est.
($ billions)
Notes
1 Nigeria594.257
2 South Africa341.216
3 Egypt284.860
4 Algeria227.802
5 Angola131.407
6 Morocco112.552
7 Sudan70.030
8 Kenya62.722Revised to $53.40 billion[8]
9 Ethiopia49.857
10 Libya49.341
11 Tunisia49.122
12 Tanzania36.620Revised to $41.33 billion[9]
13 Ghana35.475
14 Ivory Coast33.963
15 DR Congo32.665
16 Cameroon32.163
17 Uganda26.086Revised to $24.69 billion[10][11]
18 Zambia26.82
19 Gabon20.675
20 Mozambique16.590
21 Botswana16.304
22 Senegal15.881
23 Chad15.841
24 Equatorial Guinea15.396
25 Congo14.114
26 Zimbabwe13.739
27 Burkina Faso13.382
28 Mauritius12.720
29 Mali10.94
30 Namibia11.982
31 South Sudan11.893
32 Madagascar11.188
33 Benin9.237
34 Niger8.290
35 Rwanda8.002
36 Guinea6.770
37 Sierra Leone5.411
38 Togo4.838
39 Malawi4.408
40 Mauritania4.286
41 Eritrea3.870
42 Swaziland3.842
43 Burundi3.037
44 Lesotho2.458
45 Liberia2.073
46 Cape Verde1.975
47 Central African Republic1.731
48 Djibouti1.582
49 Seychelles1.473
50 Guinea-Bissau1.040
51 The Gambia0.918
52 Comoros0.722
53 São Tomé and Príncipe0.362
54
55 Sahrawi Arab Democratic Republic

See also[edit]

References[edit]

  1. ^ "Report for Selected Countries and Subjects". World Economic Outlook. International Monetary Fund. April 2014. Retrieved 31 May 2014. 
  2. ^ Moffatt, Mike. "A Beginner's Guide to Purchasing Power Parity Theory". About.com. IAC/InterActiveCorp. Retrieved 31 May 2014. 
  3. ^ Ito, Takatoshi et. al. (January 1999). "Economic Growth and Real Exchange Rate: An Overview of the Balassa-Samuelson Hypothesis in Asia". Changes in Exchange Rates in Rapidly Development Countries: Theory, Practice, and Policy Issues. National Bureau of Economic Research. Retrieved 1 June 2014. 
  4. ^ "What is GDP and why is it so important?". Investopedia. IAC/InterActiveCorp. 26 February 2009. Retrieved 30 May 2014. 
  5. ^ Callen, Tim (28 March 2012). "Purchasing Power Parity: Weights Matter". Finance & Development. International Monetary Fund. Retrieved 30 May 2014. 
  6. ^ Callen, Tim (28 March 2012). "Gross Domestic Product: An Economy’s All". Finance & Development. International Monetary Fund. Retrieved 31 May 2014. 
  7. ^ "World Economic Outlook database". IMF. Retrieved 23 December 2014. 
  8. ^ "Kenya's economy increases by a quarter to join Africa's top 10". Reuters. 30 September 2014. Retrieved 23 December 2014. 
  9. ^ "Tanzania's GDP expands by 32 pct after rebasing - officials". Reuters. 19 December 2014. Retrieved 23 December 2014. 
  10. ^ "UGANDA'S GDP EXPANDS BY 13% AFTER REBASING". CNBC Africa. 29 November 2014. Retrieved 23 December 2014. 
  11. ^ "GDP ESTIMATES REBASED TO 2009/10". UBOS. November 2014. Retrieved 23 December 2014.