By Usman Salami
Africa continent blessed with both natural resource and great nationals, here are the top 10 economy in Africa 2021
You may be suprice to see Africa Nigeria as the top list with over $514 billion, while the last on our goes to Angola – with over $66.49 billion:
It is conventional wisdom that the poorest countries in the world are in Africa. However, there is no denying the fact that Africa has countries that are among the world’s fastest-growing economies.
Come to talk of it, Africa has raw materials needed for global demands, the only issues across Afrca nations is bad leadership from the government acrosss Africa, dispare that influences of bad government some Africa The African few Africa countries’e economy are still dong well
Africa economy is largely constituted by agriculture, natural resources, and trade. In a quick outlining, here are the largest African economies in 2021 (By GDP). starting with Nigeria being on our top list
1: Nigeria: $514 billion:
Since 2014, Nigeria has retained its top spot on the largest economy in Africa every year. The main sustenance of Nigeria’s economy is crude oil which amounts to up to 10% of the total GDP. Other contributors are agriculture, clothing and textiles, entertainment, and so on.
2: Egypt – $394.28 billion:
Egypt is also doing well, setting at the second-largest economy in Africa, with agriculture, natural gas, petroleum imports, and tourism as its mainstay.
Though skeptics expected the economy to take a dip, given the political unrest in the country in recent years, so the figure came as a surprise to many
3: South Africa – $329.53 billion:
The South African economy is largely stimulated by its manufacturing sector and tourism.
South Africa is also known for its mining activities. Although Nigeria has the largest economy by GDP Nigeria is not the richest country in Africa, as South Africa is said to be the richest country in Africa
The wealth of a country is determined by their per capita which Nigeria does not fall into the top ten. Per capita is calculated by dividing the total GDP by the population size of the country.
South Africa is still considered Africa’s best economy. The country is still known and widely patronized by tourists from all over the world because of its tourist attractions which account for a good percentage of their GDP.
4: Algeria $151.46 billion:
Algeria has strived to retain this position for some years now. The North African country is known to have the largest landmass in Africa.
Algeria’s economy thrives on agriculture, fishing, and mining. The country also has many mineral resources which include mercury, iron, zinc, copper, and many others to mentioned
5: Morocco – $124 billion:
Morocco’s economy’s growth is said to be the result of friendly policies, Morocco another north Africa country bordering the Atlantic Ocean and Mediterranean Sea is the top 5th with over $124 billion
6: Kenya – $106.04 billion:
The main sustainer of the Kenyan economy is the service sector and agriculture stands the second sustainer because, after the service sector, agriculture contributes a significant percentage of the overall GDP.
Although the Kenyan government battled to revive the country’s economy back in 2013 and here they are today, at the number 6 spot of the largest economies in Africa.
7: Ethiopia – $93.97 billion:
Ethiopia is a home of flowers and maize. The country’s agriculture is booming now, as against the famine that was experienced three decades ago. The country pitches at the no7 spot of the largest economies in Africa
8: Ghana – $74.26 billion:
Ghana is one country in Africa that more people are talking about for good reasons, Ghana has agriculture as a significant contributor to its GDP.
According to Wikipedia, the Ghanaian economy thrives on economic activities such as the manufacturing and exportation of digital technology goods.
Ghana also has a rich natural resources base such as hydrocarbons and industrial materials; this has made the country one of the countries with the highest GDP per capita in West Africa. With a total of $74.26 billion, Ghana comfortably holds this position.
9: Ivory Coast – $70.99:
Ivory Coast has experienced some political instability in the past decade but the economy is picking up gradually now. The economy of Ivory Coast mainly has agriculture as its backbone and is a major contributor to their GDP
10: Angola – $66.49 billion:
The last country on our list here in Angola. Angola has its manufacturing, agriculture, mining, etc as the key booster of its economy, and with a GDP of $66.49 billion, Angola is inarguably one of the largest economies in Africa.
READ: South Africa on FIRE for Jailing former President Jacob Zuma the anti-apartheid hero who was accused of corruption
That is the Top 10 Economy In Africa 2021, want to make your voice heard, kindly use the comment box below this page to drop you r comment, we do love to hear from you on this very topic. From AfriNOTES with thanks from us for reading, stay tune and read more news and articles here