GDP Check: 5 Richest Countries In Africa

EDITOR’S PICK 

• Kaduna Train Attack Victim Dies From Gunshot Injury
• Insecurity: Nigerians Leave Their Homes Unsure Of Returning – Wole Soyinka
• ‘Our Policies, Programmes Aim At Nothing But The Betterment Of Nigeria’ – Buhari

GDP is a measure of a country’s wealth around the world. In which economists and politicians all over the world use Gross Domestic Product as the ultimate yardstick for measuring and ranking countries’ wealth.

In this article on EKO HOT BLOG, we would be looking at 5 most

1. Nigeria ranked number one with GDP of $480.482 billion

Nigeria has a large percentage of natural resources, particularly crude oil. The state was producing over 1.4 million barrels per day as of September 2021. Aside from oil, the state produces limestone, niobium, lead, arable land, tin, iron ore, and zinc.

2. South Africa ranked second with GDP of $415.315 billion

South Africa is a major exporter of raw materials such as gold, platinum metals, and iron ore. South Africa is also a market leader in financial and manufacturing services.

3. Egypt ranked third with a GDP of $396.328 billion.

Egypt’s primary industries are wholesale and retail trade, construction, tourism, and gas extraction. Egypt’s GDP is growing steadily despite its current population of over 104 million people.

4. Algeria ranked fourth with GDP of $163.812 billion

The Northern African country is one of the fastest growing in the continent. They are abundant in natural gas and oil, and one of the top exporters.

FURTHER READING

• Nigeria Lost $1.5bn Worth Of Oil To Vandals In Q1 – NNPC
• Ige’s Murder: I’m Willing To Go To Court, Says Soyinka
• 4 Unhealthy Habits, That Could Make You Look Older Than Your Age

5. Morocco ranked fifth with GDP of $126.035 billion

Morocco is one of three North African countries among the top five richest in Africa. Morocco’s economy is based on agriculture and industry.

Click to watch our video of the week