By Obiesie Ifechi

Africa, a continent rich in diversity and potential, is home to some of the world’s fastest-growing economies. As the continent continues to navigate its way through various challenges, several countries have emerged as leaders in terms of economic growth and development.

In this article, we will explore the top 10 countries in Africa, per ranking by CEOworld, with the biggest economies, based on their Gross Domestic Product (GDP).

From Egypt to South Africa, and Nigeria to Ethiopia, these countries are driving growth, innovation, and progress on the continent.

Egypt

Egypt’s GDP is currently at $398.39 billion making it the country with the largest Gross domestic product in Africa. Despite inflation, this is a significant increase after the GDP growth declined by 3.8% in 2022/23

Nigeria

Nigeria’s GDP is at $390 billion making it the country with the second-largest gross domestic product in Africa. The GDP was projected to increase by 3.4% by the African Development Bank

South Africa

South Africa is the country with the 3rd largest GDP in Africa. With a GDP of $380.9 billion, the GDP growth decelerated to 0.6% from 2023, however, it is projected to increase to 1.3% at the end of the year.

Algeria

The Peoples Democratic Republic of Algeria ranks 4th highest in the countries with the biggest economies. With a GDP of $224.1 billion, the GDP accelerated from 3.6% to 4.2% in 2023 and it’s projected to continue to increase.

Ethiopia

The Federal Democratic Republic of Ethiopia ranks Fifth highest with a GDP of $155.8 billion. The GDP had a growth rate of 7.1% and it’s projected to reach 6.7% at the end of the year

Morocco

Morocco has a GDP of $147.34bn ranking them 7th in the list. The country recorded a growth rebound in 2023 due to a revival in agricultural activities and services and a moderate recovery in domestic demand.

Kenya

Kenya is the 7th Country with the largest GDP in Africa. The GDP is recorded to be $112.74 billion. The country’s economy recorded a growth of 5.2% as agriculture rebounded and the growth of services moderated in the country.

Angola

Angola has a GDP of $93.79 billon. The country is one of the oil-dependent African countries; however, the GDP grew an estimated 0.9%.

Tanzania

Tanzania has a GDP of $84.03 billion. The Real GDP experienced a growth rate increase of 5.3% and is projected to continue to 5.7% at the end of the year

Ivory Coast

The Republic of Côte d’Ivoire has a GDP of $79.43 billion. The country was vigorous in 2023 with an increase of 6.5% and it’s predicted to move to 6.9% in 2024.

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