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Egypt ranked as Africa’s richest country followed by Nigeria and then South Africa Updated for 2021

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Updated: February 24, 2021

The ranking would surprise many people who often think South Africa and Nigeria are the richest countries in Africa. Wealth, it turns out, is not just about the amount of dollars you receive or have stashed in foreign reserves, it also has do with the Gross Domestic Product (GDP) and the Purchasing Power Parity (PPP).

This seems to make sense. What if one man has all the money and everyone else is hungry, broke, busted and depressed?

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According to the International Monetary Fund‘s ranking of the African nations by Gross Domestic Product (GDP) at Purchasing Power Parity (PPP), Egypt is the richest country in Africa, followed by Nigeria and then South Africa.

The ranking does not take into account the GDP (PPP) of the dependent or integral territories of the United KingdomFranceItalySpainPortugalYemen and Malta within the African continent.

For the purpose of the data published by the International Monetary Fund, the GDP (PPP) Zanzibar is included as part of that of Tanzania, the GDP (PPP) of Western Sahara is included as part of that of Morocco, and the GDP (PPP) of Somaliland is included as part of that of Somalia, which will anger many many many people.

The full ranking can be found below.

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List

Region
Rank
CountryPeak value of GDP (PPP) as of 2019
Billions of International dollars
Peak Year
Africa6,906.2222018
1 Egypt1,391.7342019
2 Nigeria1,214.8272019
3 South Africa813.1002019
4 Algeria684.6492019
5 Morocco330.3812019
6 Ethiopia240.7052019
7 Ghana211.1272019
8 Angola203.7632019
9 Kenya190.9702019
10 Libya187.7962010
11 Tanzania186.0602019
12 Sudan177.6782018
13 Tunisia150.8342019
14 Côte d’Ivoire117.0302019
15 Uganda104.8932019
16 Cameroon101.1242019
17 Democratic Republic of the Congo77.4412019
18 Zambia76.5202019
19 Senegal47.3352018
20 Mali44.0282018
21 Madagascar42.7052018
22 Botswana41.5562018
23 Burkina Faso38.7942018
24 Mozambique38.6792018
25 Gabon38.5822018
26 Equatorial Guinea37.6892012
27 Zimbabwe35.5652018
28 South Sudan35.2542011
29 Chad30.5632015
30 Republic of the Congo29.7492018
31 Mauritius29.1872018
32 Guinea28.6372018
33 Benin27.4712018
34 Namibia27.4442018
35 Rwanda26.9972018
36 Malawi23.6822018
37 Niger23.4752018
38 Somalia19.5682018
39 Mauritania18.1192018
40 Togo13.8862018
41 Sierra Leone12.6192014
42 Eswatini (Swaziland)11.4962018
43 Eritrea9.9972018
44 Burundi8.1842018
45 Lesotho7.2312018
46 Liberia6.4402018
47 Central African Republic4.2932012
48 Cape Verde3.9832018
49 Djibouti3.9642018
50 Gambia3.8842018
51 Guinea-Bissau3.3852018
52 Seychelles2.8732018
53 Comoros1.3842018
54 São Tomé and Príncipe0.7262018
Simon Ateba
Simon Ateba
Simon Ateba covers the White House, the U.S. government, the International Monetary Fund, the World Bank and other financial and international institutions for Today News Africa in Washington D.C. Simon can be reached on simonateba@todaynewsafrica.com

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