which
African countries do you think of when you try to think about the top 10
richest African countries which are the top sectors they are involved in keep on reading to find out.
hello kings this Blog is about the top 10 richest African countries in 2020 by
nominal GDP as a quick reminder the gross domestic product the GDP is the market value of all final goods and services from a nation in a given year
compared to us.
And Europe it will be interesting to see the GDP of the top 10 richest African
countries. let's dive right
10. Tanzania:
Tanzania with a GDP of
62 billion us dollars Tanzania makes it on our list is number 10.situated in
the east Africa the largest trading partners of Tanzania in 2017 were
India Vietnam South Africa Switzerland and china the economies overwhelmingly dependent
on agriculture.
which accounts for 28.7 of gross domestic product it also makes up 85 of its
exports and accounts for half of the employed workforce, unfortunately, the
strong dependence on agriculture makes the economy profoundly powerless against
climate stuns and fluctuating item costs.
Also, did you know that the highest mountain on the African continent mount
Kilimanjaro is in northeastern Tanzania.
09. Ghana:
Number nine ghana and
its GDP of 67billion u.s dollars situated in west Africa Ghana has a population
of 30 million people ghana possesses industrial mineral hydrocarbons and
precious metals.
it is an arising assigned advanced economy and has a monetary arrangement
target named ghana vision 2020 imagines Ghana as the main African nation to
turn into a created country somewhere in the range of 2020 and 2029.
The economy of ghana also includes automotive and ship construction and
exportation did you know that in 2011 ghana became the fastest-growing economy
in the world.
08. Angola:
Number eight is the
country Angola with its GDP of 94
billion us dollars the country on the west the bank of South Africa is the
second-biggest Portuguese-talking country in both complete region and populace
behind brazil.
The economy of Angola remains vigorously affected by the impacts of the battle
for freedom from Portugal and the ensuing common conflict from 1975 until 2002
despite extensive oil and gas resources diamond hydroelectric potential and
rich agricultural land.
Angola remains poor and corruption is rife throughout the economy oil
production and the supporting activities are vital to the economy contributing
about 45 to GDP and 90 to exports.
07. Ethiopia:
Number
seven is Ethiopia with its GDP of 96 billion us dollars the East African
country on the horn of Africa registered over 10 percent economic growth from
2004 through 2009 making it the fastest-growing non-oil-dependent African economy in the years 2007 and 2008.
Its economy is a mixed economy with a large public sector main export partners
are Sudan Switzerland china Somalia and the Netherlands around 44 of its the economy is concerning services, while agriculture and industry are making up
35 and 21 respectively.
The government of Ethiopia is currently privatizing a significant number
of the state-claimed organizations and advancing toward a market the economy did you know that around 63 percent of people in
Ethiopia is Christians.
06. Kenya:
Number
six is Kenya with its GDP of 100 billion us dollars situated in eastern Africa
Kenya has a population of more than 48 million people Africa is Kenya's largest export market followed by the European Union.
its economy has seen much expansion by a strong performance in tourism higher
education and telecommunications as well as in agriculture telecommunications
and financial activity over the last decade.
comprise 62 of Kenya's GDP while 22 percent comes from the agricultural sector
which employs75 of the labor force, industry, and manufacturing is the smallest
sector accounting for 16 of GDP did you know that tourism is the second-largest
source of foreign exchange revenue following agriculture.
05. Morocco:
Number
5 morocco and its GDP of 120 billion us dollars the kingdom of morocco is
located in north Africa and is considered a relatively liberal economy the
service sector
represents
over half portion of GDP and industry comprised of mining development and
assembling is an extra quarter.
The sectors that recorded the highest growth are tourism telecommunication and
textile agriculture makes up around 14 of its GDP and employs around 45 percent
of the population.
Morocco also exports automobiles aircraft parts electric components and
fertilizers did you know that Spain is morocco's main import and export
partner.
04. Algeria:
Number
four has a GDP of 170 billion us dollars Algeria is also situated in the north
Africa Algeria is the 10th largest country in the world and the largest bay
area in the Arab world with its population of 44 million people.
It is the eighth-most populous country in Africa the economy of Bulgaria
is mainly driven by the oil and gas sector did you know that Algeria has the
16th greatest oil saves money on earth and the second-greatest in Africa.
Therefore around 94 of total exports are represented by hydrocarbons regarding the volatility of oil it has become apparent that Algeria needs to develop a strategy targeting stronger sustained growth and diversifying the economy.
03. Egypt:
Number
3 Egypt with a GDP of 303 a billion us dollars the Arab Republic of Egypt lies
in the northeast corner of Africa Egypt has the third-largest economy in Africa
and is an establishing individual from the assembled countries.
Egypt's economy depends mainly on agriculture medium petroleum natural gas and
tourism its main exports also consist of cotton textile citrus fruits rice
cement steel and ceramics also the Egyptian information communications the technology sector has been growing significantly in the last years by the way
what do you know about the Suez Canal in Egypt?
The canal opened officially in 1869 and connects the mediterranean sea to
the red sea it has an insane length of 193 kilometers or 120 miles and
generated around 6 billion us dollars in revenues in 2019 it must be
impressive to take a trip through the canals.
02. South Africa:
Number
two is south Africa and a GDP of 351 billion us dollars the southernmost
country in Africa has a population of 59 million people and has three capital
cities Pretoria bloom Fontaine and cape town the largest city is johannes burg.
The second-largest economy in Africa unfortunately is still burdened by a
relatively high rate of poverty and unemployment it is also ranked in the top
10 countries in the world for income inequality as a manufacturing hub.
South Africa is the most industrialized technologically advanced and
diversified economy on the African continent main industries are agriculture
mining and manufacturing products.
In 2018 around 16 of exported goods were gold 8 diamonds and 8 platinum the top
destinations for exports was china with16 followed by the UK with 6. did you
know that there are 11 official languages in South Africa that is the fourth
the highest number in the world.
01. Nigeria:
Finally
our number one Nigeria with a GDP of 448 billion us dollars the country in West
Africa is the most populous country in Africa and the seventh most populous
country in the world with an estimated 206 million people.
Nigeria's economy is the 24th largest in the world and is often referred to as
the giant of Africa Nigeria is classified as a mixed economy emerging market
its stock exchange.
The Nigerian stock exchange is the second-largest in Africa following the
Johannesburg stock exchange oil only contributes about 9 to the GDP while
telecommunications banking.
The film industry is rapidly growing and currently, make up around 10 of the
total output services is the largest sector accounting for about 50 percent of it is total GDP agriculture which was the biggest sector in the past now weighs
around 23 according to a Citigroup report published in 2011.
Nigeria will have the most elevated normal GDP development on the planet
between 2010and 2050. we are highly interested to see what the future will hold
for the giant of Africa. lets us know which African country is your favorite
and why?
