Africa, which consists of 54 countries, has been experiencing economic declines over the past decades, but yet, some countries still stand out even in the ever-changing landscape.
In this article, I’ll be showing you countries that determine Africa’s economic future which is collected through their overall Gross Domestic Product (GDP).
This research is based on the 2023 statistics on performing countries in Africa with their overall GDP. Join us on an exploration of the economic powerhouses fueling Africa's growth and determining its economic trajectory.
Nigeria - $477 Billion
Nigeria has the largest economy in Africa, with a GDP of $477 billion. The country's fast rise in the financial sector, as well as its leading position in petroleum exports, fuel the country's economic strength. Lagos, Africa's second-largest urban area and a growing digital hub, adds to Nigeria's regional power.
Egypt - $477 Billion
Egypt and Nigeria share first place with a GDP of $477 billion each. Its economy is diversified, ranging from agriculture and tourism to textiles and petroleum. Egypt's strategic location at the crossroads of Africa and the Middle East increases its influence on the continent.
South Africa - $406 Billion
South Africa's GDP is $406 billion, making it a financial and industrial giant. Its abundant mineral wealth and established companies attract worldwide investment and promote regional economic growth.
Algeria - $192 Billion
Algeria's petrochemical industry adds to the country's $192 billion GDP because of its vast oil and natural gas reserves. Algeria is presently known as an influential financial force in the region of North Africa.
Read more: https://www.investingport.com/10-largest-economies-in-africa/