Friday, March 29, 2024

All the 3 East African Countries make it to the top 15 richest African Countries.

Trade, agriculture, human resources, and industry are the major components of the African economy. As of 2012, Africa housed 1.07 billion people in the 54 countries of the continent. Though the country is rich in resources, the people of the country have been exploited for decades and are poverty stricken. It is expected that the African economy will reach a GDP of $29 trillion by 2050. However, it is also estimated that the disparity in income will deter the wealth distribution among the people of the continent. Currently, a number of African countries are among the poorest while others have some of the fastest growing economies in the world. Here we discuss the ten richest countries in Asia and the nature of their economies.

The Richest Countries In Africa

Rank Country 2015 GDP (PPP) millions of dollars
1 Africa 5,736,700
2 Nigeria 1,192.00
3 Egypt 995.97
4 South Africa 724.01
5 Algeria 570.64
6 Morocco 274.53
7 Angola 185.25
8 Sudan 167.42
9 Ethiopia 159.22
10 Tanzania 146.70
11 Kenya 143.05
12 Tunisia 127.21
13 Ghana 113.35
14 Liby 92.88
15 Uganda 79.75
16 Ivory Coast 78.34
17 Cameroon 72.11
18 Zambia 64.65
19 Democratic Republic of the Congo 63.27
20 Botswana 37.16
21 Senegal 36.30
22 Madagascar 35.56
23 Gabon 34.41
24 Mozambique 33.73
25 Chad 32.00
26 Burkina Faso 31.18
27 Mali 29.15
28 Republic of the Congo 28.90
29 Zimbabwe 27.92
30 Equatorial Guinea 25.94
31 Namibia 24.84
32 Mauritius 24.51
33 Benin 21.16
34 Malawi 20.56
35 Rwanda 20.32
36 Niger 18.96
37 Mauritania 16.43
38 Guinea 15.28
39 Swaziland 10.87
40 Togo 10.82
41 Eritrea 7.94
42 Burundi 7.88
43 Somalia 5.90
44 Lesotho 5.78
45 The Gambia 3.27
46 Liberia 3.78
47 Cape Verde 3.48
48 Djibouti 3.09
49 Seychelles 2.53
50 Guinea-Bissau 1.94
51 Central African Republic 1.62
52 Comoros 1.21
53 São Tomé and Príncipe 0.66

10.  Kenya

#10  Kenya

Kenya is an East African equatorial nation with Nairobi as its capital city. The country is bordered by Tanzania, Uganda, South Sudan, Ethiopia, and Somalia. It has a coastline on the Indian Ocean. Kenya is the tenth richest country in Africa in terms of GDP.

Even though Kenya is one of East and Central Africa’s biggest economy, the country suffers from a poor Human Development Index of only 0.519 that places Kenya in the 145th position among 186 countries in the world. Corruption is highly prevalent. 75% of the country’s workforce is employed in the agricultural sector. Developments in tourism, telecommunications, and higher education have boosted the Kenyan economy in the last few years. 62% of GDP is contributed by the service sector and 22% by agriculture and the rest by the industries in the country.

9.  Tanzania

#9  Tanzania

Tanzania is an East African country located within the African Great Lakes region. Kenya, Uganda, Rwanda, Burundi, the Democratic Republic of the Congo, Zambia, Mozambique, and Malawi border Tanzania.

Though Tanzania is the tenth richest country in Africa by GDP, it is one of the world’s poorest country. The country’s per capita GDP of $1,813 is 32% lower than the average of $2,673 of the sub-Saharan African countries. However, the per capital GDP of the country has steadily risen from 2009 through 2013 at an average of 3.5% per year. South Africa, China, and Switzerland are Tanzania’s largest trading partners. The Great Recession was also braved fairly well by the country.

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