The world’s second largest continent in Africa and it comprises of over 50 independent states- alternatively regarded as countries. Some people believe Africa constitutes the poorest continents but to contradict this notion, is a list of Top 10 Richest Countries in Africa 2019 And Their GDP.
In financial analysis, it is significant to simplify that real Gross Domestic Product (GDP) is somewhat different from GDP per capita because of the previous measures economic growth while the latter (gross domestic product per capita) measures economic development as it enables a country’s typical way of living.
Remarkably, in this article are countries ranked based on their GDP per capita. To regulate a country’s GDP per capita for a definite year, you need to divide the GDP for that year by the corresponding population. Carefully compelled, is a list of richest countries in Africa based on their GDP per capita.
10. Namibia GDP Per Capita – $10,411
Global figures about mineral production disclose that Namibia establishes the world’s biggest producers of uranium. In the meantime, the Namibian government earns the biggest share of its returns from mineral extraction and exploration. Namibia is labeled as Africa’s tenth richest country. Though the Namibian economy is deeply grounded on the exportation of minerals as well as uranium and diamond. The main factor which donates to its high GDP per capita is the country’s paltry population of 2.5 million.
9. Egypt GDP Per Capita – $10,913.4
Egypt has upheld its deportment among the largest African financial prudence over the years. It is Africa’s third largest economy in terms of GDP, through the GDP per capita of $10,913.4, the country rules the third position amongst the richest North African countries. Egypt has often been preferred by industrial development and vigorous advance in technological innovations.
Indeed, many of its dollar billionaires have devoted massively in helping the growth of IT and technology at large. Egypt is one of the most develops nations across the African Continent.
8. Tunisia GDP Per Capita -$11,467.1
Tunisia is presently viewed as one of the most vivacious economies in North Africa. It is the second richest country in the region with $11,467.1 GDP Per Capita. Throughout the initial phase of the Arab Spring, January 11 exactly, there was a noteworthy revolt which resulted in the discharge of the Tunisian president Zine Al-Abidine Ben Ali. Tunisia was favored by the revolt and considered it among the effectual African economies.
7. South Africa GDP Per Capita – $13,195.5
South Africa is a dominant African country and evidence show that it is the second largest African economy exactly in terms of GDP. Formerly, it was Africa’s largest economy till Nigeria expatriate it after the final conducted a rebase on its GDP. South Africa’s economy is appropriately expanded, making the country one of Africa’s most industrialized economies. Though South Africa is limited to the seventh place on this list, the country has the maximum number of African dollar billionaires.
6. Algeria GDP Per Capita – $14,717.3
Algeria’s economy is mainly reliant on the energy industry which produces an enormous quantity of fossil fuels. At the same time, the energy industry donates more than 95% of Algeria’s export revenues. Additionally, it brands up 30% and 60% of the country’s GDP and budget incomes respectively. Algeria is located in the Northern region of Africa and it is one of the finest economies in the region.
5. Botswana GDP Per Capita – $15,893.93
With Its assessed population equitably above 2 million residents, Botswana is one of the least crowded Africa countries. Botswana’s diamond-rich land is measured a mid-sized terrain. Exactly, the best part of Botswana’s wealth can be accredited to its enormous production of diamonds. Previously, Botswana was classified as part of the world poorest nations, but today, it institutes the fastest-growing economies across the globe.
4. Gabon GDP Per Capita – $20,081
The major part of its income is gotten from oil production, making Gabon one of the prime oil producers in Africa. Gabon is an East African nation with a visit oil reserve and low inhabitants’ density which makes it appropriate for individuals to preserve maintainable standards of living. Gabon is observed as Africa’s fourth richest country.
3. Mauritius GDP – $20,085.2
The terrain of Mauritius is an island enclosed by the Indian Ocean. In the meantime, Mauritius preserves a high average of living under the effect of a properly-diversified economy concerned with the making of sugar, apparel, tourism, and textile manufacturing. Besides, the country benefits largely from vivacious financial services.
2. Seychelles GDP Per Capita – $7,177.2
It is fairly easy to believe that Seychelles is the second richest African Country in terms of GDP Per Capita because the country’s inhabitants are far below a million residents while the GDP floats around $2.4 billion. The population of Seychelles is close to 100,000 inhabitants, with little unemployment percentage of just 1% specifies an approving standard of living.
1. Equatorial Guinea GDP Per Capita – $40,718.8
Measured the richest African country in terms of GDP per capita, Equatorial Guinea is one of the African countries with trivial land mass and paltry population estimates. The country enjoys good economic standards under the effect of low population and massive deposit oil.
Its residents are estimated less than 1 million inhabitants and as East Africa terrain, its boundaries upon Gabon and Cameroon. Notwithstanding the cert that it experiences a high occurrence of corruption, Equatorial Guinea is one of the oil-rich African countries that have made good use of their mineral aptitudes.