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Countries in Africa are sorted according to data from the International Monetary Fund. [1] 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 . [ 2 ]
This is a list of the African nations ranked by Gross Domestic Product (GDP) at Purchasing Power Parity (PPP). Figures are given in international dollars according to the International Monetary Fund.
Economic growth in the early 2020s According to 2024 estimates by the African Development Bank Group, African countries are projected to account for more than half of the world fastest growing economies; in particular, Niger, Senegal, Libya and Rwanda are expected to grow at the fastest rate of over 7% per year. Estimates of Real Gross Domestic Product (GDP) growth rate in 2023 show that most ...
The figures are from the International Monetary Fund (IMF) World Economic Outlook Database, unless otherwise specified. [ 1 ] This list is not to be confused with the list of countries by real GDP per capita growth , which is the percentage change of GDP per person recalculated according to the changing number of the population of the country.
The first set of data on the left columns of the table includes estimates for the year 2023 made for each economy of the 196 economies (189 U.N. member states and 7 areas of Aruba, Hong Kong, Kosovo, Macau, Palestine, Puerto Rico, and Taiwan) covered by the International Monetary Fund (IMF)'s International Financial Statistics (IFS) database ...
[7] [8] Since China's transition to a socialist market economy through controlled privatisation and deregulation, [9] [10] the country has seen its ranking increase from ninth in 1978, to second in 2010; China's economic growth accelerated during this period and its share of global nominal GDP surged from 2% in 1980 to 18% in 2021.
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There are a number of reasons for Africa's poor economy: historically, even though Africa had a number of empires trading with many parts of the world, many people lived in rural societies; in addition, European colonization and the later Cold War created political, economic and social instability. [25]