Revealed: Eight of the richest countries in Africa according to their GDP 2017

Africa is a rich continent with so much to offer from each of its countries. Some countries have pride in the resources which they have that include; Diamonds, gold, petroleum, and uranium.

1. Nigeria

Nigeria is the country in Africa that has the highest population and the highest GDP of $376.284bn .Its natural resources that it exports include oil, cocoa, and rubber. In fact, Nigeria is Africa’s largest crude oil supplier. Not to mention the rich agricultural sector that’s responsible for 18% of the country’s GDP.

2.South Africa

It has the second largest economy after Nigeria with a GDP of  $349.299bn. The highest performing industry to contribute to this growth was agriculture, followed by mining and manufacturing.

Its key exports include  corn, diamonds, and fruit. It is also the world’s second-largest producer of gold which adds into the growth of its economy.

3. Egypt

The countries trade history is what helped its economy grow even though at some point it fell due to the revolution that took place. It managed to make it among the top 3 rich African countries . Its GDP is  $237.037bn with its main exports being  petroleum, insulated wire, video displays, and gold.

4.Algeria

The county's economy has been aided by petroleum and natural gases which are the country’s most important mineral resources, with the biggest exports being either mined or manufactured, while agriculture also plays a role in it.

Its nominal GDP is  $178.287bn.

5.Angola

It is one of the fastest growing economy in the world . It exports crude oil, petroleum products, diamonds, fish, fish products, coffee, sisal, cotton, and lumber and its biggest industries are oil, diamonds, agriculture, and fishing.

It has a GDP of  $124.209bn.

6. Morocco

Some of its important exports include electric components, inorganic chemicals, transistors, citrus fruits, vegetables, and fish. It has a GDP of $109.824bn.

7.Ethiopia

It is the second most populated country in Africa and is also one of the fastest growing economies in the world.Some of the countries major exports include coffee, leather, textiles, natural gum, spices, and mineral products. Agriculture is perhaps the country’s largest industry seeing as the banking, telecommunications, and transportation sectors are dominated by state-owned companies.

It has a GDP of  $80.874bn .

8.Kenya

With a rich agricultural sector, Kenya produces tea, coffee, sisal, pyrethrum, corn, and wheat are grown in the fertile highlands. Livestock predominates to the north and east, while coconuts, pineapples, cashew nuts, cotton, sugarcane, sisal, and corn are grown in the lower-lying areas. Tourism also plays a big role in Kenya’s service industry despite taking a downturn due to security issues and negative publicity.

Its  GDP is  $79.511bn.