Top 10 Cash Rich African Countries

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 (Source: Unsplash)

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:

Angola (Source: Unsplash)

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:

Kenya (Source: Unsplash)

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:

Algeria (Source: Unsplash)

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:

South Africa
South Africa (Source: Unsplash)

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:

Nigeria (Source: Unsplash)

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?


Post a Comment

If you any doubts please let me know

Previous Post Next Post