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which is the richest country in africa 2019

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However, it is also a country that remains plagued by income disparity. Richest countries in Africa: Agriculture, human resources, and industry are the major components of the African economy. Unfortunately, it doesn’t seem as though the country’s rulers are bothering to make a lot of improvements in this regard. 2. Botswana is a landlocked country with a small population, which aren’t exactly encouraging signs when it comes to economics. With that said, much of the Tunisian economy rests on energy and tourism. Egypt shares its borders with the Gaza Strip and Israel, the Red Sea, Gulf of Aqaba, Red Sea, Sudan, and Libya. Currently, Equatorial Guinea is the richest country in Africa, with a per capita income of $34,865. GDP of Nigeria: $397.472 billion (USD) Capital: Abuja Nigeria is currently the most highly populated country in Africa, with a population of more than 190 million inhabitants Based only on GDP, Nigeria is the richest country in Africa in 2019. All figures are from the 2017 International Monetary Fund data. Equatorial Guinea used to be under the control of the Spanish before earning their independence in 1968. With a per capita GDP of $11,528, it is the tenth richest country in Africa. However, many of its residents continue to live in poverty. South Africa is enlisted among the top 10 countries in the world for income inequality. Namibia can be found in Southern Africa. Seychelles is an archipelago in the Indian Ocean which is home to some 100 000 people. With the declining state of oil production in Gabon, it is still one of the highest producers of oil in sub-Saharan Africa. Algeria does well enough. South Africa, the southernmost country on the continent, is bordered by Namibia, Zimbabwe, Botswana, Swaziland, Lesotho, and Mozambique. This is a list of List of Richest Countries In Africa as of 2020.Mauritius, Seychelles, and Equatorial Guinea are the richest countries in Africa according to the latest research. Richest countries in Africa: Rank Country GDP Per Capita (International Dollar), 1 Equatorial Guinea 34,865 2 Seychelles 28,712 3 Mauritius 21,628 4 Gabon 19,266 5 Botswana 18,146 6 Algeria 15,150 7 South Africa 13,403 8 Egypt 12,994 9 Tunisia 11,987 10 Namibia 11,528 11 Swaziland 9,882 12 Libya 9,792 13 Morocco 8,612 14 Cape Verde 6,942 15 Angola 6,813 16 Republic of the Congo 6,707 17 Nigeria 5,927 18 Ghana 4,605 19 Sudan 4,580 20 Mauritania 4,474 21 Zambia 3,997 22 Lesotho 3,869 23 Cote d’Ivoire 3,857 24 Djibouti 3,567 25 Kenya 3,496 26 Cameroon 3,359 27 Tanzania 3,283 28 Sao Tome and Principe 3,208 29 Senegal 2,678 30 Chad 2,433 31 Uganada 2,352 32 Zimbabwe 2,277 33 Benin 2,219 34 Mali 2,169 35 Ethiopia 2,113 36 Guinea 2,039 37 Rwanda 2,018 38 Burkina Faso 1,884 39 Guinea-Bissau 1,806 40 Sierra Leone 1,791 41 The Gambia 1,686 42 Togo 1,612 43 Comoros 1,560 44 Madagascar 1,554 45 South Sudan 1,503 46 Eritrea 1,434 47 Mozambique 1,266 48 Malawi 1,172 49 Niger 1,153 50 Liberia 867 51 Burundi 808 52 Democratic Republic of the Congo 785 53 Central African Republic 681 54 Somalia NA. Top 10 richest countries in Africa (Updated 2019), Man who quit teaching to preach, shelter orphans marks ministry’s 30yrs, Kenya is broke, CS Ukur Yatani finally admits, Househelp: What I heard on night lawyer Elizabeth Koki was murdered, KRA announces major waivers on tax penalties, NMS announces 240 jobs with up to Sh. How often do you ask Which country is the poorest in Africa? powered by ... but to claim the No. Briefly.co.za made a list of the 10 African billionaires and their net worth. The Gabonese government has been accused of overspending. As of 2012, Africa housed 1.07 billion people in the 54 countries of the continent. Which is the richest country in the world 2020? Mauritius is an island country located in the Indian Ocean off of the southeast coast of the African continent. Tanzania is one of the richest countries in Africa. The country is powered by sectors such as Agriculture, manufacturing (I hear they opened Africa’s largest Industrial park), tourism (home to the wildebeest migration) and now begun exporting crude oil. As such, it encompasses some of the Sahara Desert as well as some of the Atlas Mountains, though it is home to a fair amount of fertile land as well. Related Article: How To Start Palm Oil Business In Nigeria. For those who are curious, it is a multicultural country with a developed economy, as shown by the fact that it is home to strong financial, IT, and manufacturing sectors. The West Asian nation of Qatar, located in the Arabian Peninsula’s northeastern coast, is the richest country in Asia with a GDP per capita of $70,799 USD. Although it has been suspected that Seychelles may harbor offshore oil reserves, to this date none have been found. Following given is a list of the top 10 richest countries in Africa as of 2019 based on their GDP per capita. The total wealth held in Africa rose by a modest 14% over the past 10 years (2008-2018) with three of the largest economies on the continent, South Africa, Egypt and Nigeria performing poorly on most economic indicators according to the AfrAsia Africa Wealth Report 2019, released today by Mauritius based AfrAsia Bank. The economy of Botswana grew very quickly. Many goods that are consumed within the country are imported, which contributes to their high costs. Still, Egypt remains one of the wealthier African countries when gauged using GDP per capita. The 20 Best Things to Do in Park City, UT for First Timers, A Traveler’s Guide to Hiking in Melbourne, Australia, The 10 Best Lexus Hybrid Cars Money Can Buy. Equatorial Guinea owes its very high GDP per capita to its large oil reserves. Said country is seeking to bridge the gap between its rich and its poor, but it remains to be seen how well it will be able to do so in the times to come. The unemployment rate in Namibia is also high, at around 27.4%. Egypt is a transcontinental country with territories stretching from Africa’s northeast corner to Asia’s southwest corner across the Sinai Peninsula. 10. Qatar was the richest country in the world in 2019, ranked by GDP per capita. Gabon is another excellent example of a country with a respectable economic performance because of oil. All figures are from the 2017 International Monetary Fund data. However, it is also estimated that the disparity in income will deter the wealth distribution among the people of the continent. A low population of 1,475,000 and a high amount of oil revenue explains Gabon’s position on the list of richest countries. It is the seventh-largest country in Africa, bordered by Namibia to the south, the Democratic Republic of the Congo to the north, Zambia to the east, and the Atlantic Ocean to the west. Some examples range from high child mortality rates to a very poor human rights record. 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Although the country’s GDP is very high, it has been noted that many residents of Equatorial Guinea lack basic rights such as access to clean water. This is mostly due to the extreme income inequality that is found within the country. The main focus of the economy in Seychelles is tourism and fishing. In 2019, however, there’s also an equally extreme amount of wealth. However, it has seen some very respectable economic gains over the course of its history, which becomes less surprising when one learns that it has been a stable democracy ever since it gained independence. 7. In recent decades, the government has tried to come up with initiatives of how they can reduce their dependence on tourism. Namibia – $11,528. Image credit: Nate Hovee/Shutterstock.com. With that said, Seychelles recognizes that it still has a lot of issues that need to be overcome, which is why it is focused on an economic development program that is meant to make it less vulnerable to not just economic shocks but also other undesirable occurrences. 4. The country is Africa’s largest crude oil exporter, recording production about 1,6 million barrels a day in December of 2019. Nigeria is the richest country in Africa based on GDP in 2019. Namibia can be found in Southern Africa. Seychelles – Richest Country In Africa. South Africa – $13,403. Equatorial Guinea is a tiny country with a big oil sector. GDP per capita: 31.81 thous… Seychelles is the richest nation in Africa by GDP per capita, and it ranks high worldwide as well. Still, Egypt remains one of the wealthier African countries when gauged using GDP per capita. Seychelles is home to fewer than 100,000 people. The GDP of Norway ranks as the second-largest in the world. It is expected that the African economy will reach a GDP of $29 trillion by 2050. 2 China – $25.33 trillion. Egypt is the third richest country in Africa with a GDP of About 249.247 billion dollars. Nonetheless, it ranks eighth on the list with an average per capita income of $13,403. 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: The Republic of Namibia came into existence in 1990. Currently, a number of African countries are among the poorest while others have some of the fastest growing economies in the world. Seychelles is characterized as a highly developed country. Who Makes Lexus Cars and Where are They Made? Learn how your comment data is processed. Before tourists began to visit the country, plantations used to drive the economy of Seychelles. However, it has one of the highest GDPs per capita on the entire African continent, which can be attributed in considerable part to its tourism sector. Today, the per capita income in Tunisia is $11,987, Africa’s 9th highest. In 2019, the country's GDP increased to 119,719 USD. Again, it is important to note that income inequality is not taken into consideration when per capita GDP is reported. Back in 2017, Norway's GDP registered as 74,571 USD. Libya's actually got one of the lowest homicide rates on the continent. Germany, US, Japan, and China are the biggest trade partners of South Africa outside of Africa. msn back to msn home africa. Namibia - $11,528 Aerial View of Namibia's Capital Windhoek. The country is also home to a highly sophisticated banking system and a low level of foregn debt. With a per capita GDP of $11,528, it is the tenth richest country in Africa. Allen Lee is a Toronto-based freelance writer who studied business in school but has since turned to other pursuits. The country has a population of over 40 million. However, over recent decades, oil production in Gabon has been declining, with some experts predicting that it is soon to run out. Much of Tunisia’s economy has longtime been dependent on industries such as oil, tourism, and automobile parts. Kenya it is. With GDPs going up as high as $38,700. READ ALSO: Africa's richest: 10 African billionaires and their net worth. Libya. Here we discuss the ten Richest countries in Africa and the nature of their economies. ... April 2019. Top Richest Tribes in Africa 2019 – Current Update. Tourism is one of the biggest revenue generating industries in South Africa. How to apply, KDF mass recruitment dates, vacancies, requirements and venues, Emirates Introduces Special Fares for Kenyans this January, Octagon and National Bank Partners With Costa Homes to Enhance Safety of Buyers of Affordable Housing, Career profile of Kenya Airways CEO Allan Kilavuka, Kenyan woman who built parents house in 2012 finally builds her mansion, Marital problems After I Lost my First Wife to Cancer Solved, NMS to construct 62,000 rent or buy houses in Eastlands, A Mistaken Sex Message from My Husband, A Visit To Doctor Mugwenu Saved Our Marriage. Norway. What Does it Cost to Stay in a Retirement Home? Although agriculture used to play an important role in the country’s economy, its important has shrunken. Unsurprisingly, this means that there is a wide range of parties that have been recommending economic diversification so that Algeria won’t be so reliant on a single economic sector, but suffice to say that the necessary processes are much easier said than done. Richest Tribes in Africa In 2019, Kenya made a huge step towards being one of the richest countries in Africa based on GDP by posting a 5.7% growth. The population measures at around 1,222,245. The majorly export agricultural and crude commodities such as coffee, cotton, cashew nuts, gold, diamonds and tobacco among others. It is relatively small, covering only around 10,830 square miles. GDP: $444.916 billion (USD) Nigeria is not only the most populated country in Africa, she is but also, based only on nominal GDP, the richest country in Africa in 2019. Something that can be traced to the not too distant past. South Africa. Using Gross Domestic Product (GDP) per capita based on purchasing power parity (PPP), Equatorial Guinea ranks as the richest country in Africa as of 2019 with a GDP (PPP) per capita of $34,865 while the Central African Republic is the poorest with a GDP (PPP) per capita of $681. Home » FEATURED » Top 10 richest countries in Africa (Updated 2019). Zambia There is a common perception that Africa is rich in resources but has failed to use them to fund the creation of prosperous societies. Fishing and the processing of natural resources such as coconut also play a part. Top 50 Richest Countries In The World 2020 – New year started with most individual tagging it as their year of success but what most people fail to realize is a successful nation is a product of the people in it and vice versa, hence the reason why a country with a thriving economy is most likely to produce affluent individuals. The country’s port serves as the second busiest port in the world by cargo tonnage. And the United States had the largest economy, ranked by total GDP. It ranks fourth on this list with an average GDP of $19,266. It is considered to be a middle-income country. But more recently, it is trying to diversify and branch out into many other areas so as to have a diversified economy. The infiltration of terrorist groups and internal rebellions also serve to damage the country’s economic stability. The report notes that Namibia's wealth has grown by 26% from 2008 to 2018, adding that the country was recently rated by New World Wealth as one of the safest countries in Africa. Algeria , the largest country in Africa by land area, is located in the Northern part of the continent. Which country is the richest in Africa 2019? Currently, Lee is practicing the smidgen of Chinese that he picked up while visiting the Chinese mainland in hopes of someday being able to read certain historical texts in their original language. … It ranks as the second richest country of Africa, with a reported per capita GDP of $28,172. However, it has a number of serious issues as well, which range from severe income disparity to a very high unemployment rate. Once upon a time, Egypt was an economic wonder because of the Nile, which often enabled Egyptians to produce huge surpluses. Mauritius is a true success in spite of the odds being stacked against it at the time of its independence. According to statistics provided by the IMF, the Top 10 richest countries in Africa are- … The Five Best Lexus Hatchback Models of All-Time, The Five Best Chopard Chronometer Watches Money Can Buy, The History of the Cartier Pasha Seatimer, A Buyer’s Guide for the Cartier Roadster Chronograph, How G Herbo Achieved a Net Worth of $2.5 Million, How Young Dolph Achieved a Net Worth of $3 Million, How Linus Torvalds Achieved a Net Worth of $150 Million, How Shemar Moore Achieved a Net Worth of $22 Million. Please enter your username or email address to reset your password. GDP per capita: $30,505. It is the 6th richest country in Africa with a GDP per capita of $15,000. Richest in Africa is a very low bar to clear, Libya is still far more developed than your average sub-Saharan African country (and more peaceful than quite a few), and they still have their oil. The richest country in the world in 2050 is predicted to be China. Nigeria or the Federal Republic of Nigeria. Like many countries on this list, it is considered by the World Bank to be an upper middle country. Granted, it isn’t perfect, but it has managed to ensure low corruption as well, which has enabled it to make good use of its mineral wealth and other natural resources. The country exports certain textile and clothing products as well. The country today is characterized as an emerging economy. In particular, it is worth mentioning that Tunisian tourism has made a recovery from the events of 2015, so much so that it is expected to see a record number of visitors in 2019. The country has a mixed type of economy and has a relatively high GDP compared to other African countries. How Often Should You Use Your Credit Card to Keep it Active? Tunisia is a country found in north Africa. 10. Africa is a continent of majesty to behold, filled with adventure and history. 1 spot as the richest country in the world, the constitutional monarchy’s economy is necessarily diversified. It has been applauded for its free economy. To date, unemployment rates remain high, especially among youth. The Southern African country used to be the richest country until Nigeria took over. In comparison, in South Africa there are 2 070 multi-millionaires, 39 200 high-net-worth individuals, 94 centi-millionaires and five billionaires. Seychelles is considered as a highly developed country and is the second richest country in Africa according to GDP per capita, however, income inequality is also a huge problem. International Monetary Fund data tobacco among others country used to drive the economy has longtime dependent... Wide gap between the rich and the nature of their economies world Bank refers to Mauritius its! 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