Friday, March 29, 2024

Top 10 African countries with the highest GDP per capita

We always assume that a country with a bigger GDP or one that ranks high in the list of Africa’s richest countries is one that has the best GDP per Capita. This list will shock you when you fail to see Africa’s most vibrant economies not listed.

 According to Investopedia, GDP per capita is an important economic metric used globally by economists to gauge/analyze a country’s prosperity based on its economic growth. It specifically measures how much of a country’s overall economic production value can be attributed to each of its citizens.

Some economists and development experts argue that GDP per capita is more important than GDP itself because it reflects how much of a country’s overall wealth actually trickles down to everyone in the country.

GDP per capita is also “an important indicator of economic performance and a useful unit to make cross-country comparisons of average living standards and economic wellbeing,” according to Focus Economics.

That said, this article shall be focusing on the 10 African countries with the highest GDP per capita. Interestingly, Nigeria, which has the highest GDP in Africa as of December 31st, 2021, is not among the top ten countries herein highlighted.

Before we proceed, it’s important to note that African countries typically have some of the lowest GDP per capita in the world, compared to countries like Luxembourg, Switzerland and Norway where GDP per capita are as high as $137,950, $98,770 and $84,120, respectively.
The available statistics for Africa’s GDP per capita is dated December 2021 and is courtesy of Statista, the global markets and consumer data company based in Hamburg, Germany.

10 African countries with the highest GDP per capita

Seychelles

At $9,670, this island nation currently has the highest GDP per capita in Africa. The Seychelles is an archipelago of 115 islands in the Indian Ocean, off East Africa. It’s home to numerous beaches, coral reefs, and nature reserves, as well as rare animals such as giant Aldabra tortoises.

Mahé, a hub for visiting the other islands, is home to capital Victoria. It also has the mountain rainforests of Morne Seychellois National Park and beaches, including Beau Vallon and Anse Takamaka.

Top 10 African countries with the highest GDP per capita

Mauritius

The second position is occupied by yet another island African country —Mauritius. This country has a GDP per capita of $9,640. Mauritius, an Indian Ocean island nation, is known for its beaches, lagoons, and reefs.

Top 10 African Countries With Highest Minimum Wages – 2022

The mountainous interior includes Black River Gorges National Park, with rainforests, waterfalls, hiking trails and wildlife like the flying fox. Capital Port Louis has sites such as the Champs de Mars horse track, Eureka plantation house and 18th-century Sir Seewoosagur Ramgoolam Botanical Gardens.

Top 10 African countries with the highest GDP per capita

Gabon

This oil-rich country comes in at third position with a GDP per capita of $8,600.Gabon, a country along the Atlantic coast of Central Africa, has significant areas of protected parkland.

The forested coastal terrain of its famed Loango National Park shelters a diversity of wildlife, from gorillas and hippos to whales. Lopé National Park consists of mostly rainforest. Akanda National Park is known for its mangroves and tidal beaches.

Top 10 African countries with the highest GDP per capita

Equatorial Guinea

This country has a GDP per capita of $8000. Equatorial Guinea is a Central African country comprising the Rio Muni mainland and 5 volcanic offshore islands. Capital Malabo, on Bioko Island, has Spanish colonial architecture and is a hub for the country’s prosperous oil industry.

Its Arena Blanca beach draws dry-season butterflies. The tropical forest of the mainland’s Monte Alen National Park is home to gorillas, chimpanzees, and elephants.

Top 10 African countries with the highest GDP per capita

Botswana

This Southern African country has a GDP per capita of $7,820. Botswana, a landlocked country in Southern Africa, has a landscape defined by the Kalahari Desert and the Okavango Delta, which becomes a lush animal habitat during the seasonal floods.

The massive Central Kalahari Game Reserve, with its fossilized river valleys and undulating grasslands, is home to numerous animals including giraffes, cheetahs, hyenas and wild dogs.

Top 10 African countries with the highest GDP per capita

South Africa

This country is one of Africa’s leading economies. And it has a GDP per capita of $5, 440.

Namibia

Namibia has a GDP per capita of $4, 370, according to Statista.

Egypt

This is one of only two North African countries that made it to the top 10 list, and it has a GDP per capita of $3,830.

Eswatini

Formally known as Swaziland, this Southern African country has a GDP per capita of $3,710.

Tunisia

Finally, we have Tunisia which has a GDP per capita of $3,680.

Written By: Frank Kiwanuka, Ranking inspired by Africa Business insider

Connect With Us

320,552FansLike
14,108FollowersFollow
8,436FollowersFollow
1,880SubscribersSubscribe

Latest Stories

Related Stories