3 Economies Account for Half Of Africa’s GDP. Here Are The Top 10
With investors showing increased interest in African equity and bond markets and through direct investment, data issues are getting more urgent. Insufficient resources at national statistics offices result in poor quality macroeconomic data.
Measuring GDP in Africa is just plain difficult.
African countries generally fail to accurately record the size of the informal economy which could account for up to 62.7 percent of GDP in countries across the continent. Many African economies are measured using outdated base years. Revising them could lead to a collective upward revision in African GDP of 30.8 percent, according to World Economics.
Most African countries also use outdated national income accounting standards, making comparisons between their economies and the developed world of little value. Accurate and transparent statistics are essential indicators of economic potential, World Economics reported.
Sources: KNOEMA, IMF World Economic Outlook, ONS.UK.gov, StatisticsTimes, World Economics.
10. Tanzania
GDP 2015: $44.9 billion
Projected GDP 2016: $45.9 billion
Share of World GDP 2015: 0.1 percent
Share of Africa’s GDP 2015: 2.4 percent
9. Kenya
GDP 2015: $61.4 billion
Projected GDP 2016: $64.7 billion
Share of World GDP 2015: 0.1 percent
Share of Africa’s GDP 2015: 2.5 percent
8. Ethiopia
GDP 2015: $61.6 billion
Projected GDP 2016: $67.4 billion
Share of World GDP 2015: 0.1 percent
Share of Africa’s GDP 2015: 2.8 percent
sudaneseonline.org
7. Sudan
GDP 2015: $83 billion
Projected GDP 2016: $93 billion
Share of World GDP 2015: 0.2 percent
Share of Africa’s GDP 2015: 2.9 percent
6. Angola
GDP 2015: $102 billion
Projected GDP 2016: $81 billion
Share of World GDP 2015: 0.2 percent
Share of Africa’s GDP 2015: 3.2 percent
5. Morocco
GDP 2015: $103.1 billion
Projected GDP 2016: $108 billion
Share of world GDP 2015: 0.2 percent
Share of Africa’s GDP 2015: 4.8 percent
4. Algeria
GDP 2015: $172 billion
Projected GDP 2016: $166 billion
Share of World GDP 2015: 0.5 percent
Share of Africa’s GDP 2015: 9.9 percent
3. South Africa
GDP 2015: $313 billion
Projected GDP 2016: $266 billion
Share of World GDP 2015: 0.6 percent
Share of Africa’s GDP 2015: 12.5 percent
2. Egypt
GDP 2015: $330.765 billion
Projected GDP 2016: not listed
Share of World GDP 2015: 0.9 percent
Share of Africa’s GDP 2015: 17.3 percent
1. Nigeria
GDP 2015: $492 billion
Projected GDP 2016: $538 billion
Share of World GDP 2015: 1 percent
Share of Africa’s GDP 2015: 19.2 percent