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10 Richest African Countries Based On Gdp - Politics - Nairaland

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10 Richest Countries In Africa Based On GDP Per Capita Value Including Nigeria / Leading Countries Based On Number Of Active Twitter Users In January 2021 / Twiter Ban: Leading Countries Based On Number Of Twitter Users As Of Jan. 2021 (2) (3) (4)

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10 Richest African Countries Based On Gdp by isnovic(m): 1:20pm On May 31, 2018
Gross domestic product (GDP) is the market value of all final goods and services from a nation in a given year. Countries in Africa are sorted according to data from the International Monetary Fund. The figures presented here do not take into account differences in the cost of living in different countries, and the results can vary greatly from one year to another based on fluctuations in the exchange rates of the country's currency.Such fluctuations may change a country's ranking from one year to the next, even though they often make little or no difference to the standard of living of its population.

Some countries may have citizens that are on average wealthy. These countries/regions could appear in this list as having a small GDP. This would be because the country/region listed has a small population, and therefore small total economy; the GDP is calculated as the population times market value of the goods and services produced per person in the country.
These figures should therefore be used with caution.

Comparisons of national wealth are also frequently made on the basis of purchasing power parity (PPP), to adjust for differences in the cost of living in different countries. PPP largely removes the exchange rate problem, but has its own drawbacks; it does not reflect the value of economic output in international trade, and it also requires more estimation than nominal GDP.[5] On the whole, PPP per capita figures are more narrowly spread than nominal GDP per capita figures:




10.Tanzania GDP – $49 billion Per Capita – $943

9. Kenya GDP $64.688billion, GDP (PPP) Per Capita $1,422

8. Ethiopia GDP – $67.435 billion Per Capita – $859

7. Angola GDP – $81.643 billion, GDP (PPP) Per Capita: $3,150

6. Sudan GDP $93.729 billion, GDP (PPP) Per Capita $2,366

5. Morocco GDP – $108 billion Per Capita – $5,765

4. Algeria GDP $165.974 billion, GDP (PPP) Per Capita $4,082

3. South Africa GDP – $312.798 billion, GDP (PPP) Per Capita: $4,768

2. Egypt GDP – $330.779 billion, GDP (PPP) Per Capita: $3,740

1. Nigeria GDP $594.257 billion, GDP (PPP) Per Capita $2,929

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Re: 10 Richest African Countries Based On Gdp by comos: 1:53pm On May 31, 2018
these dose not translate to infrastructural development which have direct impact on the lives a country citizen,

most of the countries there are far ahead of Nigeria, in terms of infrastructure and welfare of their citizen
Re: 10 Richest African Countries Based On Gdp by Richardpossible: 2:00pm On May 31, 2018
dis report correct so?
Re: 10 Richest African Countries Based On Gdp by chairman00100: 2:20pm On May 31, 2018
to those of us who did not go to school, the definition of a rich country is where the average citizen does not suffer to eat three square meals a day, where the average citizen have access to affordable education and health care services, rich countries have steady light supplies and many more, in these case nigeria is last among all the countries mentioned and arguably last among the ones not mentioned
Re: 10 Richest African Countries Based On Gdp by JBismarck(m): 2:34pm On May 31, 2018
comos:
these dose not translate to infrastructural development which have direct impact on the lives a country citizen,

most of the countries there are far ahead of Nigeria, in terms of infrastructure and welfare of their citizen

So, you guys have started shifting the goal post? Before, your wailing used to be "Buhari has spoilt the economy".

Re: 10 Richest African Countries Based On Gdp by isnovic(m): 2:44pm On May 31, 2018
A little look at the list will instantly tell the story for a discerning mind.

Nigeria figure thou cheering as it may seem, is only natural, and did I hear you ask why?

The size of a country's GDP is almost entirely dependent on her market size. being the most populous black nation on earth, and blessed with bustling young entrepreneurial population, Nigeria population size translates to instant economic gain.

This gain in GDP, is however dampened by the average Purchasing Power of her Population, which in this figure is lowest in Nigeria's case even though possessing the highest gross GDP value.

An oxymoron? No, because the productivity- produced wealth is still revolving in a small circle and hardly permeates the population, consequently the low economic utilization.

Harnessing her population to its full economical advantage could easily double our present GDP figure, hence improving our PPP.

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