Top 3 African Economies

Top 3 African Economies

The African continent has always been referred to as The Sleeping Giant. Such a terminology usually points at the great potentials Africa has. It is well endowed with resources (both human and natural) of all kinds. Meet the top 3;

1. Nigeria
(GDP – $594.257 billion Per Capita – $6,003)
Nigeria has always been referred to as the giant of Africa, both in terms of economy and population. Since 2014, Nigeria has been topping the list of richest African countries in terms of Gross Domestic Product (GDP). The country had overtaken South Africa which had for many decades had an iron grip at the helm. The GDP of Nigeria is currently valued at $594.257 billion. This is majorly attributed to its vast reserves of oil and gas. Unfortunately, the exploding population of Nigeria has rendered the citizens and inhabitants at large poor in the midst of plenty.

2. South Africa
(GDP – $312.798 billion Per Capita – $13200)
South Africa which has always been revered as the top economy in Africa was again beaten to second place by Nigeria in 2018. The southern Africa state had its GDP valued at approximately $312 billion dollars. In the recent past, South Africa’s economy has been struggling.

3. Egypt
(GDP – $330.779 billion Per Capita – $11,800)
Egypt famously known as “the jewel of the Nile” was convincingly placed at the third position. Its average GDP annually is estimated at $330.779 billion dollars. Egypt relies heavily on its mineral resources such as copper, natural gas, aluminium, steel and iron ore. It also has a thriving horticultural, and tourism industry.

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The African continent has always been referred to as