Top 10 Richest Countries in Africa 2021 By GDP
Top 10 Richest Countries in Africa 2021 By GDP.
Africa has some of the most sought afrer natural resources in the entire world.
We have put together a list of the TOP TEN WEALTHIEST COUNTRIES ON THE CONTINENT OF AFRICA.
Grab your jet pack and lets zoom around the continent to check out the top ten countries on our list!
10 TANZANIA (GDP: $62,224 Billion)
We begin our list of the ten richest African countries with Tanzania, which boasts a a GDP of $62,224 billion during the year of 2020.
Known as the home of some of the continent’s most famous national parks and of course Kilimanjaro, the country comprises a lower-middle mixed income economy.
The country’s economy is largely based on agriculture, contributing almost 25% to GDP, and employing half of the workforce. Industries are a growing component of the economy, which accounts for almost 30% of GDP and includes mining, manufacturing, construction, electricity, natural gas, and water supply. The main exports include gold, coffee, cashew nuts, and cotton.
Tanzania has achieved a relatively high economic growth in recent years, with a 5,6% growth rate, but this shows no signs of slowing down.
The medium-term outlook is positive, which is supported by large infrastructure spending.
Tanzania does have a percentage of people living in poverty. Despite the poverty rate decreasing in recent years, the absolute number of people living in poverty has remained the same.
9 GHANA (GDP: $67,077 Billion)
Ghana is a nation in West Africa, and has an economy which is both diverse and rich in resources.
With a GDP of $67 Billion US Dollars, it easily makes our list coming in at the number nine spot.
The country of Ghana has the distinction of being the first in sub-Saharan Africa to break free from colonial rule. Ghana also proudly boasts the distinction of being the first to achieve the target of halving extreme poverty in an African nation.
8 ETHIOPIA (GDP: $91,166 Billion)
Found in the horn of Africa, the landlocked country of Ethiopia split by the Great Rift Valley is the eighth wealthiest country on the continent of Africa.
With archaeological finds dating back over 3 million years, this ancient land is famous for being the place where the coffee bean was first discovered! I know I am thankful for Ethiopia each and every morning!
The nation is the highest coffee and honey producer in Africa, making up a large portion of the country’s foreign exchange. Other Ethiopian exports include legumes, oily seeds, and cut flowers.
The GDP of $91,166 billion comprises agriculture, construction, manufacturing, tourism, food processing, resources and energy.
Agriculture is the region’s most promising resource, making up over 40% of the GDP, 60% of exports, and more than 80% of total employment.
Ethiopia’s economic growth has averaged 9.9% year-on-year for 10 years since 2008.
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