Which is the wealthiest country in africa

By , the country will have more urban than rural inhabitants, with Kenya has made significant political and economic reforms that have contributed to sustained economic growth, social development, and political stability gains over the past decade. Over , Kenya's economic growth averaged 5. The economy's performance has been boosted by a stable macroeconomic environment, positive investor confidence and a resilient services sector. Despite significant progress on macroeconomic stability and structural reforms, Angola is still suffering the effects of lower oil prices and production levels.

A key regional player in West Africa, Nigeria accounts for about half of West Africa's population with approximately million people and one of the largest populations of youth in the world. With abundant natural resources, it is Africa's biggest oil exporter and has the largest natural gas reserves on the continent.

Before the recession, Nigeria's economy was growing fast at 6. The general government fiscal deficit was 4. Unemployment and underemployment are expected to increase, affecting poor households and increasing the share of the population vulnerable to falling into poverty. Only agriculture is expected to positively contribute to growth in After the profound economic crisis that plagued the country from mid following the decline in oil prices, the Congolese economy resumed an upward trajectory in , with real GDP growth projected to reach 1.

Growth was driven by the increase in oil production and by favorable market conditions, with oil prices holding steady in late and the resumption of demand from partner emerging countries. Nevertheless, the non-oil sector continues to decline, contracting by 5. Ghana's economy contracted by 3. However, a modest growth of 1. The 1. With relative stability in the exchange rate and the central bank's gradual return to a tighter monetary policy stance, inflation is expected to moderate to the central bank's target range.

The fiscal and current account balances are expected to improve only slowly over the medium term, largely reflecting adverse external factors and a slow return to normalcy in domestic revenue mobilization.

The country nonetheless remains Francophone West Africa's economic hub and exerts significant influence in the region. Poverty fell sharply from Djibouti's economy weathered the initial impact of the pandemic well, averting a contraction. Output expanded by 0. The top ten wealthiest African countries are:. Nigeria is the richest and most populous country in Africa. The country's large population of million is a likely contributor to its large GDP.

Nigeria is a middle-income, mixed economy and emerging market with growing financial, service, communications, and technology sectors. You only have access to basic statistics. Single Account. The ideal entry-level account for individual users.

Corporate solution including all features. The most important statistics. Further related statistics. Further Content: You might find this interesting as well. Learn more about how Statista can support your business. AfrAsia Bank. April 21, Total private wealth in Africa as of , by country in billion U.

In Statista. Accessed November 12, Statista Inc.. Accessed: November 12, Purchase now. Secondarily, I wanted to show that its total wealth was still relatively small when compared to larger countries like South Africa and Egypt. If you're struggling to select the right chart for your data, check out the Mastering Chart Selection presentation. Download these charts and edit them using Mekko Graphics.

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