List of African countries by GDP

In nominal terms, South Africa is the largest economy in Africa, followed by Egypt. Together, these two account for over 28% of the African economy. Algeria, Nigeria, and Morocco complete the top five list. The top five hold a 50% share, while the top eight account for 63.5% of the continent's economy. São Tomé and Príncipe has the smallest economy in Africa.

None of the African economies would have a GDP above $500 billion, and eight would have an economy above $100 billion. In 2024, South Africa will overtake Egypt to become the largest economy in Africa. Algeria will surpass Nigeria to become the 3rd largest economy. None of the African economies are on the list of the top 40 largest economies in the world, and only two economies are within the top 50 world GDP rankings.

Out of 53 economies, the nominal GDP of 44 economies would increase, and nine economies would decrease in 2024 compared to 2023. With $22 billion, South Africa will be the top contributor, followed by Algeria ($20 bn) and Morocco ($13 bn). Nigeria ($-164.1 bn), Ethiopia ($-14.7 bn) and Egypt ($-13.8 bn) are the top decliners.

In PPP data, the five largest economies of Asia are Egypt, Nigeria, South Africa, Algeria, and Ethiopia. Two economies would have a GDP above Int. $1 trillion in 2024, and 17 would have an economy above Int. $100 billion. Kenya will overtake Angola, and Tanzania will surpass Ghana. None of the African economies are on the list of the top ten largest economies globally, and only four economies are within the top 50 world GDP rankings.

Out of 53 economies, the GDP (PPP) of 51 economies would increase, and only two economies would decrease in 2024 compared to 2023. Egypt (Int. $109 bn), Nigeria (Int. $75 bn), and Algeria (Int. $49 bn) would be the top gainers. Sudan and South Sudan are the two decliners.

All African economies have higher GDP on a PPP basis. Nigeria has the highest PPP to nominal ratio above 7, while São Tomé and Príncipe has the lowest figure of 1.81.