Beitrag vom 07.03.2024

Visual Capitalist

Breaking Down the $3 Trillion African Economy by CountryPublished 22 hours ago on March 5, 2024

By Marcus Lu

Breaking Down the $3 Trillion African Economy by Country

Home to 1.4 billion people, the nations of the African continent are widely diverse; not just in culture and language, but also in economic output.

We visualize the 2024 gross domestic product (GDP) projections for African countries from International Monetary Fund (IMF) estimates, last updated in October 2023. The data is in current USD, and does not include projections for Eritrea.

Furthermore, data for Lesotho, Guinea-Bissau, São Tomé and Príncipe, and Burundi has been left off the map due to a lack of space but has been included in the article’s table.

Ranked: Africa’s Economies by GDP
At first place, South Africa is Africa’s biggest economy in nominal terms, with an estimated GDP of nearly $400 billion.

The country’s mining industry is a major contributor to the economy, accounting for nearly 60% of total exports in the first half of 2023. South Africa is one of the world’s biggest producers of gold, diamonds, platinum, manganese, and other minerals.

However, concerns regarding the sustainability of South Africa’s mining industry have grown since the pandemic. According to a report by PwC, the country’s gold industry may have less than 30 years left without renewed investment.

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