SA was Africa’s largest economy until it was recently displaced by Nigeria. 8. The country’s neighbors are Somalia, Ethiopia, Eritrea, and the Red Sea. Here’s the top 10 Richest Countries in Africa as of 2015 ranked by GDP per capita: 10) Algeria – $7,500 (GDP per capita) Algeria is the second largest oil producer in Africa, and this accounts for the majority of the country’s economy generating 70% of total budget receipts. The economy of Algeria is majorly dependent on the energy industry which produces massive amounts of fossil fuels. Top 50 Richest Countries by GDP per Capita. 761,826 0.695 8 92 12,994 Egypt: 11.9 33.1 55.7: 2017 est. The GDP per capita of the country is stated to be about $1,172. This country is made up of small 115 islands and its population is less than 0.1 million. Regardless, while Africa is still struggling with a wide range of issues, there are some African countries that have managed better economic performances in recent decades than others. Global statistics about mineral production reveal that Namibia constitutes the world’s biggest producer of uranium. For proof, these are the 10 richest countries in Africa listed by World Atlas , which in turn, is using data on GDP per capita from the International Monetary Fund for 2017: Angola is a Portuguese-speaking African country as well as the second-biggest oil producer on the African continent. With its population estimated fairly above 2 million inhabitants, Botswana is unarguably one of the least populous African countries. Despite being Africa’s largest economy, Nigeria doesn’t fit well among the richest African countries. Meanwhile, this is attributed to the country’s long years of corruption and bad government which makes it difficult for many Nigerians to enjoy favourable standards of living. Yearly, the average growth of real GDP is estimated at 6.7%, giving Zambia the hope to advance better in years to come. The 10 ‘richest’ countries in Africa 1. Richest countries in Africa: Seychelles is also an island country found in the Indian Ocean. Although regarded as Although regarded as 10 Richest Countries In Africa 2014 – GDP per capita - Ghana Talks Business And it is often said that most of Isabel’s wealth is attributed to her country’s enormous mineral potentials. Besides, the country benefits largely from vibrant financial services. Botswana’s main export is diamonds, and the country is second only to Russia in diamond production. On a daily basis, the Ghanaian oil sector yields nearly 55,000 barrels. Much of this growth is propelled by the sale of raw materials such as diamonds, oil, among other factors such as tourism. That can be attributed to how the country is dependent on its energy sector, producing large amounts of fossil fuels. The Central African Republic is one of the African countries that has been through tough times with years of war. Djibouti GDP per Capita: $5,855. While the Namibian economy is heavily based on the exportation of minerals including diamond and uranium, the major factor that contributes to its high GDP (PPP) per capita of $11,229 is the country’s meager population of 2.5 million inhabitants. That’s all about theRichest Countries In Africa Based On GDP Per Capita. And to determine a country’s GDP per capita for a specified year, we have to divide the GDP for that year by the corresponding population. The economy of Ghana is fair with a GDP per capita of $6,452. Top 10 Richest Countries In East Africa 1. If the GDP per capita is high, this can often indicate the wealth and prosperity of the inhabitants in the country. The highest percentage composition of GDP from a sector of origin (agriculture, industry or services) is bolded. At 18,146 Int$, Botswana’s GDP per capita makes it the fifth richest country in Africa. This page lists the countries of the world sorted by their gross domestic product per capita … Nigeria is kept within the sixteenth position on this list of 20 richest countries in Africa. It ranks as the second richest country of Africa, with a reported per capita … With its per capita income more than other poorer countries of Africa, Gabon qualifies as the third richest country in the African continent. If you are going to ask “which is the richest country in Africa?” then this article presents the name of top 10 richest countries in Africa along with their per capita income i.e. With a GDP Per Capita of $134,620, Qatar is one small country in the Middle East that happens to be the richest country in the world. With a current GDP that is just slightly below $450 Billion, Nigeria sits firmly as the richest country in the Africa. Finally, below are the top 20 richest African countries in terms of GDP per capita. Meanwhile, Mauritius maintains a high standard of living under the influence of a properly-diversified economy concerned with the production of apparel, textile manufacturing, tourism, and sugar production. GDP (PPP) Per Capita: $6,594.00. Some people believe Africa constitutes the poorest continents but to contradict this notion, we have come up with the list Top 20 Richest Countries in Africa 2018 (By GDP Per Capita). It is the tenth richest country in Africa on this list of top 10. The GDP per capita is an economic measure of the value of all goods and services produced in a given year, divided by the number of inhabitants. In fact, it is regarded as the biggest exporter cum producer of cocoa beans in the world. In terms of GDP per capita, Botswana maintains a total of $17,965. Over 95% export income and 60% of the nation’s GDP comes from this industry. The 50 wealthiest economies showcased in the table below generated the highest GDP per capita averages on a Purchasing Power Parity basis. Mauritius has the highest per capita wealth of any country in Africa as shown in the left-most bar chart. Seychelles is an archipelago in the Indian Ocean with an estimated population of 99,944 denizens. But now, Sudan experiences a lot of hardship ranging from political unrest to economic setbacks. The Seychelles is the smallest country in Africa. Seychelles has witnessed enormous development which has led to a boost of substantial proportions in its economy. The Republic of Namibia came into existence in 1990. GDP (PPP) per capita and total GDP estimate values are given in international dollars. It is also the 2nd richest country in Africa, with a GDP of $349.29 billion and a mesmerizing GDP per capita of $6,179, that is only beaten by the 5 other countries in Africa. Cape Verde (alternatively known as Cabo Verde) is an island situated in the Western region of Africa. Spread the love There is currently a lot going on in African countries. It is one of the African countries with less than 2 million inhabitants. With a population of only 92,000, it has the tiniest population of any country in Africa. The Central African Republic . But the vast majority of the people who live in the country are very poorly paid immigrants and live in terrible conditions. In previous times, Botswana was ranked as part of the world’s poorest nations, but today, it constitutes the fastest-growing economies across the globe. The list below ranks 10 wealthiest countries in Africa by per capita wealth (average wealth per person). A favourable standard of living the best economies in the Northern part of the African countries economy, is... Now, Sudan was considered one of the richest countries in Africa in terms of GDP per.. 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