Top 10 richest country in africa 2024

In 2024, Africa’s total GDP is estimated to be approximately $2.8 trillion, according to the International Monetary Fund (IMF). This figure highlights the diverse economic landscape across the continent, with significant contributions from just a few countries.

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The top five economies in Africa account for about half of the continent’s GDP, collectively reaching $1.44 trillion:

1. South Africa – $373 billion
2. Egypt – $348 billion
3. Algeria – $267 billion
4. Nigeria – $253 billion
5. Ethiopia – $205 billion

These nations represent a mix of resource-rich and diversified economies. South Africa leads due to its industrial and service sectors, while Egypt benefits from its strategic location and diversified economy. Nigeria and Algeria rely heavily on oil and gas, and Ethiopia is experiencing growth from its agricultural base and infrastructural developments.

The remaining 48 African countries collectively contribute another $1.4 trillion, with key players like Morocco, Kenya, Angola, Côte d’Ivoire, and Tanzania leading this group.

Here are the top 10 richest African countries in 2024 based on GDP per capita (adjusted for purchasing power parity, PPP) and Human Development Indicators:

Based on GDP-PPP Per Capita (2024):

1. Seychelles: $43,151 – Known for a strong tourism-driven economy and good governance.
2. Mauritius: $32,094 – Diversified economy with strengths in financial services and tourism.
3. Libya: $26,527 – Wealth primarily from oil reserves despite political challenges.
4. Botswana: $20,311 – Stable growth through diamond mining and economic diversification.
5. Gabon: $19,865 – Strong resource-based economy, particularly oil.
6. Equatorial Guinea: $18,378 – Oil-driven economy with ongoing diversification efforts.
7. Egypt: $17,786 – A mix of agriculture, manufacturing, and tourism.
8. South Africa: $16,625 – Economic powerhouse with diverse industries.
9. Algeria: $14,227 – Dominated by hydrocarbons but diversifying into renewable energy.
10. Tunisia: $13,694 – Economy boosted by reforms, tourism, and manufacturing.

Human Development Index (HDI):

Countries like Seychelles and Mauritius also score highly in HDI due to strong healthcare, education, and infrastructure systems, making them leaders in both economic and social development.

These rankings reflect both economic production and efforts to improve standards of living across key African nations.