List of African countries by GDP (nominal)

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

The 2014 estimates are as follows:[7]

Rank Country GDP est.
($ billions) 		Notes
1  Nigeria 594.257
2  South Africa 341.216
3  Egypt 324.267
4  Algeria 227.802
5  Angola 131.407
6  Morocco 112.552
7  Sudan 70.030
8  Kenya 62.722 Revised to $53.40 billion[8]
9  Ethiopia 49.857
10  Libya 49.341
11  Tunisia 49.122
12  Tanzania 36.620 Revised to $41.33 billion[9]
13  Ghana 35.475
14  Ivory Coast 33.963
15  DR Congo 32.665
16  Cameroon 32.163
17  Uganda 26.086 Revised to $24.69 billion[10][11]
18  Zambia 25.611
19  Gabon 20.675
20  Mozambique 16.590
21  Botswana 16.304
22  Senegal 15.881
23  Chad 15.841
24  Equatorial Guinea 15.396
25  Congo 14.114
26  Zimbabwe 13.739
27  Burkina Faso 13.382
28  Mauritius 12.720
29  Mali 12.043
30  Namibia 11.982
31  South Sudan 11.893
32  Madagascar 11.188
33  Benin 9.237
34  Niger 8.290
35  Rwanda 8.002
36  Guinea 6.770
37  Sierra Leone 5.411
38  Togo 4.838
39  Malawi 4.408
40  Mauritania 4.286
41  Eritrea 3.870
42  Swaziland 3.842
43  Burundi 3.037
44  Lesotho 2.458
45  Liberia 2.073
46  Cape Verde 1.975
47  Central African Republic 1.731
48  Djibouti 1.582
49  Seychelles 1.473
50  Guinea-Bissau 1.040
51  The Gambia 0.918
52  Comoros 0.722
53  São Tomé and Príncipe 0.362
54  Somalia
55  Sahrawi Arab Democratic Republic

See also

References

  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" (PDF). 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" (PDF). UBOS. November 2014. Retrieved 23 December 2014.