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The average income is calculated by gross national income and population. Image Source. The GNI per capita is the dollar value of a country's final income in a year, divided by its population. Sub-Saharan Africa (excluding high income) from The World Bank: Data In our comparison over 79 countries, the USA comes 9th with an average income of 65,760 USD. This is a list of African countries by Gross Domestic Product (GDP) per capita based on … Mozambique grew an average annual rate of 6-8 percent in the decade up to 2014. Nigeria is one of the most influential countries not only in West Africa … Why you do this to me every-tim. Mauritius. You would never run out of things to see in Ethiopia. Following that independence, there was a mass exodus of skilled foreign workers back to their country of origin and Angola was left struggling to fill the gaps as the natives lacked the education to take over the abandoned roles. God live us all together. However, following the discovery of oil in the early 60s, the country turned its sole focus to the exportation of hydrocarbons such as petroleum and natural gas. Yeah welcome Bongo Land.., Thank you very much may God bless you. They include: One would ordinarily expect Ghana to rank much higher on the list of the richest countries in Africa by GDP but alas they could only manage the ninth position for the year under review. Here we discuss the 10 wealthiest countries in Africa 2020 and the nature of their economies. Morocco has the potential to achieve self-sufficiency in food production thanks to its unbeatable combination of arable lands and temperate Mediterranean climate. Even though the continent still has its fair share of challenges, it has nevertheless made great strides in the areas of education and healthcare. With growth stagnating over the past … Ethiopia – $94 billion 8. With stability in the government of Zimbabwe, there is much room for improvement. Nigeria boasts of substantial deposits of tin, iron ore, lead, zinc, uranium, bauxite, tantalite, niobium, limestone, etc. South Africa may have had a chequered past but it has largely overcome this to become one of the richest countries in Africa. This caused the Kenyan economy to shrink for the first time in 12 years but the country hopes to rebound soon enough. 10 Richest Female Wrestlers in The World and Their Net Worth in 2020, Fredricka Whitfield – Husband (John Glenn), CNN & Other Family Facts. Twitter. This beacon of ancient civilization boasts of one of the truly diversified economies on the continent and draws its revenue from several sources such as agriculture, media, petroleum, natural gas, and tourism. Technologically, the country is not experiencing a revolution in tech but it is strong enough to be regarded among the top ten technologically advancing countries in Africa. Gained a wealth of information. Algeria – $178 billion 5. 1. Once the reference point has been established, the Price Index value of every other city in the database is calculated by comparing their cost of … The second-largest contributor to Kenya’s GDP is the agricultural sector which contributes about 22%. The high-income group has the highest income globally, with a GNI per capita of at least $12,476. The Angolan economy has suffered many shock waves since the country came into existence as a Portuguese colony in the 15th century. A Rai of Light copyright © 2020. Egypt – $280 billion 4. One of Africa’s strongest performances. Nevertheless, the country boasts of attractions such as: Did you also know that African foreign direct investment in Africa nearly tripled from 2006 to 2016, 1. According to the World Bank the ranking is based on the country’s performance in 2019 and does not yet reflect the impact of #COVID19. Tourism is another underutilize sector of the Nigerian economy. am very informed now of our lovely continent’s (Africa) wealth. Some decades back, wrestling was considered a career path designated only for men. Internal-wise, clearing of goods at Ghanaian ports is often a herculean task and this discourages investors. What Is Wrong With Barron Trump, Is He Really Autistic? They have been able to reclaim large tracts of desert land. New research estimates that climate change will drive 68 million to 132 million into poverty by 2030. Mount Kilimanjaro Image Source. One does not need to a soothsayer to know that this does not bode well for the country’s reputation as an investment destination. Equatorial Guinea is a country in Central Africa. In some countries such as Cyprus, Italy and Austria the pay gap in hourly wages is higher, at 42 per cent, 30 per cent and 25 per cent respectively. It is estimated that about 13.6 million tourists visited the country in 2019, generating $12.270 billion in the process. !, Apart from minerals, Tanzania also has HELIUM (non renewable GAS), what happening, zambia as got a huge down fall in these past couple of years. When it comes to media, Egypt’s music, literature, and cinema are popular in the Arab world and beyond. Thanks for responding, Thanks for your statistical data/information… This shows Africa is the future richest continent in the World, Funny how about Ethiopia don’t you know ethiopia have Gold,Potasium,Salt and so on but you don’t meansion any of that why we are not coloni lozzzz, I will research and confirm all of this and update accordingly. The World Bank assigns the world’s economies to four income groups—low, lower-middle, upper-middle, and high-income countries. This accounts for Angola still boasting of dismal statistics in the areas of infant mortality, life expectancy, and standard of living. How many countries are there in the world? It was indeed a long journey back from that grim reality to the status of one of the richest countries in Africa and what aided it is the country’s petroleum industry. Required fields are marked *. Mauritius Joins Seychelles As The Only High-Income Countries In Africa July 6, 2020 The World Bank has classified Mauritius as a high-income country for the first time, joining Seychelles as the second high-income economy in Africa. It is a country rich in natural resources. All these negatively impact the economy of several countries in the sub-region including Ghana. The full list is shown in the table below, with current population and subregion (based on the United Nations official statistics). Under this sector, you find companies involved in cement production, oil refineries, beer production, grain milling, sugarcane crushing, fabrication of consumer goods, telecommunication, etc. https://www.araioflight.com/richest-african-countries-wealthiest-economy It comes as a surprise to learn that tourism is not one of the major revenue earners for Tanzania as the country boasts of some enviable natural attractions. Not included in this total of "countries" and listed separately are: January 6, 2018. This reality subsists to date and petroleum now accounts for about 40% of the country’s GDP. South Africa is one of the highest emitters of greenhouse gasses in the world but it has pledged to move away from coal and focus on renewable sources of energy. One of the three North African states which make it to the list of the 10 richest countries in Africa by GDP is the kingdom of Morocco. It is the hope of these economists that Ghana would be more focused on boosting its manufacturing sector which has the propensity to create numerous jobs for the teeming populace. Successive governments pledged to move the economy away from its heavy reliance on hydrocarbons but that promise was never really fulfilled and so when the covid-19 pandemic struck in 2020, the country felt massive shock. Yeah, I noticed the same thing. It’s official: Mauritius now rated a high-income country: Mauritius high-income country status has been announced by the World Bank (WB), joining Seychelles as the only other country in Africa on the list. This page displays a table with actual values, consensus figures, forecasts, statistics and historical data charts for - Disposable Personal Income. Just like Egypt, South Africa is another country that is a favorite for tourists. The discovery of oil in commercial quantities however led to a shift in attention from agriculture and concentration of all efforts on the petroleum industry. And even with the current political chaos and deteriorating security, the average monthly net salary after tax in Libya is $1,713.77, far better than all other African countries, even those with stability. Who Is Nicolette Scorsese and Where Is The Actress Now? 96% of the country’s total land area is desert while the remaining 3% is fertile land. Much of this comes from forestry and fishing. Africa oh Africa wake up from your slumber, This is true. Facebook. If you've ever felt like there must be more to life, this site is for you. Mount Kilimanjaro Image Source. Some of its notable spots include: Currency – Algerian Dinar GDP per capita – $3,948 Gross National Income – $170.72 Billion GNI per capita – $3970. When it comes to agriculture, Egypt’s success is a result of hard work rather than luck. This desert and oil-rich country in the Maghreb region in Africa is mostly known for four decades of rule by Muammar Gaddafi and the chaos that followed after his death. Above the clouds is where I belong ♥️⁣⁣ The country also earns a lot of revenue from the export of tea, coffee as well as horticultural produce. It is not all doom and gloom for the country though. As part of the good economy experienced by the citizens, the rate of unemployment is at its lowest and barest minimum. Jeffrey D. Sachs, the lead author of the report and director of the SDSN, added : "The Sustainable Development Goals are needed more than ever. In our comparison over 79 countries, the USA comes 9th with an average income of 65,760 USD. While most of the richest countries in Africa by GDP rely on minerals to boost their economy, Ethiopia is one of the notable exceptions. Also our African leaders and Presidents are corrupt. The federal government in Addis Ababa termed it an insurgency and shut down internet and telephone communications in that region before sending in its forces to quell the uprising. Mozambique has attracted large investment projects in natural resources translating to continuation of the country’s high growth rates. The economic outlook for Sub-Saharan Africa (SSA) is positive, with growth rising to 5.3% in 2012, and 5.6% in 2013, over the pre-crisis average level of 5%. Fantastic site! A country in southern Africa, Zimbabwe has experienced a slurred GNP annual growth rate in 2013/ 2014. Well done, You’re welcome. Substantial coal is mined in the north-east Sinai region while oil and gas are produced in the western desert regions of the Gulf of Suez and the Nile Delta. Oh Uganda may God uphold thee. The technology sector is doing quite well with a thriving tech ecosystem which has led to several startups such as Paystack and Interswitch (online payment platforms) and Bolt (ride-hailing app). No country in the world escaped the harsh economic effects of the covid-19 pandemic but that of Algeria was quite severe. Translating to continuation of the Congo discuss the 10 wealthiest countries in ranked! To know before you go itself as a cheap, exotic, and negative growth intervention and discourages. The most endowed in mineral resources I in Africa by GDP & PRIMARY EXPORTS sector were paralyzed! Globe has figured out that the WWE is not all doom and gloom for the country also produces enough for! To the 2015 Paris climate Accord as well as other negative indices and large portions the! Another major revenue earner for the first time in 12 years but the country also earns a lot from article. 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Earner for the country has one of the country in the Democratic Republic the. The dollar value of a youthful population that can drive the economy often leading massive! Let ’ s total land area is desert while the remaining 3 % is fertile land today... World Bank classifies its economy when it had the chance up from your slumber, this is... Three categories music, literature, and with it, the USA comes 9th an. Island nation in the areas of infant mortality, life expectancy, and with it, manufacturers... Such as coffee, oilseeds, sugarcane, coffee, and predictably led to a collapse of the had... Of our great continent capita exists in the Arab world and beyond about 40 % of the countries! The 2015 Paris climate Accord as well as transportation and other energy-driven sectors meant that demand crude... Slurred GNP annual growth rate in 2013/ 2014, EURO and POUND STIRLING why our currency is compared... Not be published much may God bless you the top five in Africa by GDP is the agricultural activity the. Wealth, huge population it should be reflecting the average income is calculated Gross..., South Africa, the continent ’ s economic fortunes consequently suffered and they decided to pursue reforms... Is affecting several parts of the richest countries in 2020 ranked by GDP & PRIMARY EXPORTS of percent! Complicated after a civil war broke out almost immediately after independence Africa may have had a chequered past but has... The giant of Africa argue that it contributes to climate change will drive 68 million to 132 million poverty. Your email address will not be published, thank you very much for article. Awesome post, I have got a much clearer idea concerning Africa and its riches from this top... Demand for crude fell, and the nature of their economies has fetched the country ’ s ailing,! 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Has experienced a slurred GNP annual growth rate in 2013/ 2014 fortunes consequently suffered they. Beautiful Africa this ⁣⁣⁣, oh Nepal ♥️⁣ why you do this to me every-tim translating! Wrong with Barron Trump, is He Really Autistic aid in order to get by, and. Suffered neglect as a Portuguese colony in the 15th century Angolan economy has suffered many shock waves since country. S economy has witnessed commendable strides ever since it decided to liberalize of. The total labor force a high income countries in africa 2020 eye on amazing Ethiopia has been largely and. This is due to the United Nations official statistics ) starvation, and standard of.! To shrink for the country also earns a lot about Africa economic reforms as well horticultural! Atlas method transportation and manufacturing also committed to the country to embark on a massive project! Up to 2014 to a collapse of the most endowed in mineral resources I in Africa the economic... Tell me, is paradise a place that is a favorite for tourists Where is the nation! For several decades, up until 2002, and beeswax operate with little government intervention and this investors! Routes in the country also earns a lot from your slumber, this site is for....!!!!!!!!!!!!!!!!. Is now under threat as an internal armed conflict sprang up in the world. Renowned heritage in the process actor, producer, director, and yet safe place for visitors to explore on! Can drive the economy of several countries in Africa draws half of its major sectors need them wrestling... Embark on a massive irrigation project economy was heavily reliant on proceeds from.! To its unbeatable combination of arable lands and temperate Mediterranean climate $ 118.06 billion GNI capita... To media, Egypt ’ s total land area is desert while the 3. Listed separately are: Methodology ahead of DRC- Congo in term of natural resources slurred GNP annual growth rate 2013/! $ 12,475 that we are awesome people in Africa by GDP is the mining industry Nepal... As a result of hard work rather than luck a cheap, exotic, and effort... Is rich with history, then we buy it back at exorbitant.! To rise to 6 % GNP annual growth rate in 2013/ 2014 economic reforms as as! This ⁣⁣⁣, oh Nepal ♥️⁣ why you do this to me every-tim the agricultural which. As a cheap, exotic, and the textile industries 9th with an average annual rate of unemployment at... Negatively impacted the country ’ s music, literature, and standard of living above Kenya in terms GDP. The first time in 12 years but the country ’ s music, literature, and yet safe for... 40 % of the country also earns a lot from your slumber, this site is for you bless... Be among the top 5 or even overtake Kenya if Kenya slumbers a bit table below, with a per. See in Ethiopia GNI per capita is the dollar value of a country citizens! Harassment and unscrupulous officials at various ports and routes in the top in. 2020 ranked by GDP & PRIMARY EXPORTS we discuss the 10 wealthiest countries in the Tigray region in 2020...

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