Africa's Richest Countries: Leaders by Nominal GDP

Introduction

Africa's economy is diverse and dynamic. When people ask which countries are the “richest,” most headlines refer to the size of the economy measured by nominal GDP—what a country produces in a year valued at current prices. By that measure, Africa's largest economies are centered in West and North Africa, with a few in Southern Africa.

How "richest" is measured

Two common metrics: nominal GDP (the overall size of the economy) and GDP per capita (average income per person). For this overview we focus on nominal GDP, which reflects the scale of the economy and its capacity to invest, import, and employ. Rankings can shift with oil prices, currency changes, and economic shocks.

Top economies by nominal GDP in Africa

Nigeria, Egypt, Algeria, South Africa, and Morocco sit at the top of the continent by nominal GDP. Each country has distinct strengths and challenges.

Nigeria

Oil and gas are the backbone for a large share of exports and government revenue. Despite political and macroeconomic challenges, the country has a large population and a growing services sector.

Egypt

A diversified economy anchored by services, tourism, logistics through the Suez Canal, and a growing manufacturing base.

Algeria

More than a decade of hydrocarbon revenue has powered public investment, though the economy faces diversification pressure away from oil and gas.

South Africa

A diversified, advanced economy with strong financial, manufacturing, and mining sectors, but facing energy and inequality challenges.

Morocco

A regional hub for trade and manufacturing, with phosphate exports and a rapidly expanding services sector.

What these rankings miss

Nominal GDP alone doesn't tell the whole story. GDP per capita, informal activity, population size, and purchasing power affect how wealth translates to everyday life. Currency swings and commodity price shifts can also move rankings from year to year.

Conclusion

Africa's richest economies share a common theme: large populations, resource bases, and diversified sectors that support broad economic activity. Understanding them requires looking beyond headline totals to how wealth is generated and distributed.