Below, you will learn about the biggest economies in Africa. This is based on 2015 ranking.
Nigeria
As t 2015, Nigeria was the biggest economy in Africa. Rebasing of the Nigerian economy in 2014 makes it surpass that of South Africa. Nigeria had a GDP of $594.257 Billion and it was classified as a mixed economy emerging market. Nigeria has the second largest stock exchange in Africa.
South Africa
According to 2015 rating, South Africa had a total GDP of $341.216 billion, which places it as the second largest economy in Africa. There are unconfirmed reports that South African economy has surpassed that of Nigeria, making the country the current largest economy in Africa.
Egypt
Egypt has a GDP of $275.748 billion and this makes it the third largest economy in Africa. The country is transcontinental and this acts as a boost to its economy. Its economic growth experienced a slowing down due to the political instability experienced by the country in 2013.
Algeria
This is the 4th largest economy in Africa. The country has a GDP of $219.456 billion. The country is equally the largest country in Africa and the Mediterranean. The country recorded economic growth of 3% in 2013, placing it among the most competitive country in Africa.
Angola
The country has a GDP of $129.785 billion, making it the 5th largest economy in Africa. The oil export of the country makes it an enviable economy in Africa, Angola is actually the second largest producer of oil in Africa. It experienced an economic growth of 5.1 in 2013 owing majorly to the rise in crude oil price.
Morocco
Morocco is the 6th largest economy in Africa. The country has a GDP of $114.7 billion. The 2013 GDP growth of 4.7 experienced by the country places it among the best in Africa. Its vibrant agricultural sector is one of the factors that make the country really great.
Libya
The country has a GDP of $67,622 billion and this makes it the 7th biggest economy in Africa. The country actually had the largest economy in Africa as at 2009. The country’s economy however experienced a drawdown due to the 2011 NATO military intervention.
Sudan
Sudan is the 8th biggest economy in Africa according to 2015 rating. The country has a GDP of $63 billion. The mainstays of the country’s economy are agriculture and mining. The country equally has trade partnership with South Sudan.
Kenya
Kenya too is among the largest economies in Africa. The country is in the 9th position with a GDP of $56.3 billion. The country’s economy is driven by construction, agriculture, financial intermediation and tourism. The country experienced economic slowdown in 2011, but it is now recovering gradually.
Ethiopia
This is one of the oldest countries in Africa and it is able to make the best 10 economies in Africa as at today. Ethiopia is the 10th largest economy in Africa; the country has a GDP of $51 billion. The country’s economy received one of its largest boosts in 2012/2013 with a GDP growth of 9.7.