Largest Economies in Africa

Top of the Ranking

South Africa leads the table with a nominal GDP of USD 401.1 billion, ahead of Egypt at USD 386.1 billion. The gap between first and second is USD 15.0 billion, or 3.9 per cent of South Africa's total. Both economies exceed USD 380 billion, and no other listed country reaches USD 270 billion. South Africa's GDP per capita of USD 6,315.92 is nearly double Egypt's USD 3,454.38, though its real growth of 0.53 per cent is the lowest among the top fifteen.

The USD 250 Billion Tier

Algeria ranks third at USD 269.2 billion, followed by Nigeria at USD 252.2 billion. The two are separated by USD 17.0 billion, a margin similar to the gap at the top of the table. Nigeria's GDP per capita of USD 1,083.83 is the lowest in the top ten and less than one fifth of Algeria's USD 5,762.64. Growth rates diverge: Algeria expanded 3.7 per cent in real terms, Nigeria 4.06 per cent. Nigeria's population effect is visible in the per capita figure, which sits below Tanzania's USD 1,200.71.

Concentration and Separation

The five largest economies account for 53.5 per cent of the combined GDP of the listed countries, and the top ten for 70.8 per cent. The median GDP across the 52 listed economies is USD 19.8 billion, so South Africa's total is 20.3 times the median. Morocco, fifth at USD 160.6 billion, is 2.0 times the median. The drop from Morocco to Kenya at USD 119.8 billion is USD 40.8 billion, larger than the entire GDP of Tunisia at USD 52.1 billion.

Growth Versus Scale

Rank does not track growth. Côte d'Ivoire, eighth at USD 87.1 billion, recorded 6.01 per cent real growth, the second highest in the top fifteen after the Democratic Republic of the Congo at 6.29 per cent. South Africa, first by scale, grew 0.53 per cent. Egypt, second, grew 2.4 per cent. Among the top five, Algeria's 3.7 per cent and Nigeria's 4.06 per cent exceed Morocco's 3.79 per cent only marginally. Scale and momentum are distinct measures across this group.

• South Africa: USD 401.1 billion, 0.53 per cent growth
• Egypt: USD 386.1 billion, 2.4 per cent growth
• Algeria: USD 269.2 billion, 3.7 per cent growth
• Nigeria: USD 252.2 billion, 4.06 per cent growth
• Morocco: USD 160.6 billion, 3.79 per cent growth

Concentration and Spread

Across the 52 listed economies, the top five account for 53.5% of combined nominal GDP and the top ten for 70.8%. South Africa ranks first at USD 401.1 billion, ahead of Egypt at USD 386.1 billion and Algeria at USD 269.2 billion. Nigeria ranks fourth at USD 252.2 billion, followed by Morocco at USD 160.6 billion. The median economy on the list records USD 19.8 billion, so the largest single economy is 20.3 times the median. Output is therefore concentrated at the top of the distribution rather than spread evenly across the 52 economies.

The Tail of the Distribution

The smallest listed economies are far below the leaders. Lesotho records USD 2.3 billion, Guinea-Bissau and Seychelles USD 2.2 billion each, Comoros USD 1.4 billion and São Tomé and Principe USD 0.8 billion. The gap between South Africa at USD 401.1 billion and São Tomé and Principe at USD 0.8 billion is roughly 500-fold. Seychelles, however, records GDP per capita of USD 19,743.89, above South Africa at USD 6,315.92 and Libya at USD 6,782.48. Aggregate size and income per head therefore diverge sharply within the same list.

Growth Across the Spread

Real GDP growth does not track nominal size. The Democratic Republic of the Congo records 6.29% growth on GDP of USD 72.7 billion, Uganda 6.17% on USD 55.1 billion and Côte d'Ivoire 6.01% on USD 87.1 billion. South Africa, the largest economy, records 0.53% growth, and Tunisia 1.63% on USD 52.1 billion. Egypt records 2.4% on USD 386.1 billion. Smaller economies in the tail post mixed rates: Guinea-Bissau 4.47% and Comoros 3.34%, against São Tomé and Principe at 1.1%.

Summary Figures

• Listed economies: 52
• Median nominal GDP: USD 19.8 billion
• Top economy versus median: 20.3 times
• Top five share of listed total: 53.5%
• Top ten share of listed total: 70.8%

Nominal GDP as a Ranking Basis

Nominal GDP measures total output at current prices and does not adjust for population size or price levels. South Africa ranks first at USD 401.1 billion, ahead of Egypt at USD 386.1 billion, a gap of USD 15.0 billion. The 52 listed economies have a median nominal GDP of USD 19.8 billion, so the top entry is 20.3 times the median. The five largest economies account for 53.5 per cent of the listed total, and the ten largest for 70.8 per cent.

GDP per Capita Reorders the List

Dividing output by population changes the picture. Libya ranks 15th by nominal GDP at USD 48.4 billion, yet its GDP per capita of USD 6,782.48 exceeds South Africa's USD 6,315.92. Nigeria ranks fourth at USD 252.2 billion, but its GDP per capita is USD 1,083.83. The Democratic Republic of the Congo ranks 11th at USD 72.7 billion with USD 685.64 per capita. Seychelles, outside the top 15, records USD 19,743.89 per capita on GDP of USD 2.2 billion.

Growth Rates and Base Effects

Real GDP growth is a separate measure from level. Among the top 15, Côte d'Ivoire records 6.01 per cent and the Democratic Republic of the Congo 6.29 per cent, against 0.53 per cent for South Africa and 1.63 per cent for Tunisia. A smaller economy can post faster growth without changing its rank. Uganda, 12th at USD 55.1 billion, grew 6.17 per cent, while Cameroon, 13th at USD 53.8 billion, grew 3.49 per cent.

Further Limitations

• Exchange rate movements alter nominal USD figures year to year.
• Price level differences are not captured without purchasing power parity adjustment.
• Informal activity is unevenly recorded across the 52 listed economies.
• Per capita figures use total population, including non-working cohorts.

The brief lists 52 economies, from South Africa at USD 401.1 billion to São Tomé and Principe at USD 0.8 billion. Rankings by nominal GDP, GDP per capita and growth therefore produce different orderings of the same set.