Richest Countries of Africa By GDP: Wealthiest Nations on African Continent
Africa is one of the largest continents in the world and the home to 53 nation states. Although regarded as the poorest continent,Â there are some progressing economies in Africa which quite wealthy. Here is the list of top ten 10 most richest nations or countries in Africa with respect to Gross Domestic Product (Purchasing Power Parity). Interestingly, African Americans spend $960 billion in the US with a projected growth to $1.2 trillion by 2012. If regarded as a nation-state African Americans would represent the 14th largest economy in the world, and the largest nation on the African continent.
Egypt: The country has a highly developed economy, and she is the first richest country in Africa having 467,600 dollars GDP (PPP). GDP (Nominal) per capita of Egypt is 187.956 billion dollars in 2009, estimated by IMF. Egypt has a developed energy market based on coal, oil, natural gas, and hydro power. Egypt has huge reserves of gas, estimated at 1,940 cubic kilometers, and LNG is exported to many countries.
South Africa is the second richest country of Africa and is ranked 25th in the world in terms of GDP (PPP) as of 2009. GDP (PPP) of South Africa is 403,900 dollars while GDP per capita is 227.379 billion dollars. South Africa is the largest energy producer and consumer on the continent. The country is also a popular tourist destination, and a substantial amount of revenue comes from tourism. Among the main attractions are the diverse and picturesque culture, the game reserves and the highly regarded local wines.
Nigeria is the third richest country of Africa continent having $ 294,800 billions GDP compared on purchasing power parity GDP per capita of Nigeria is 165.437 billion dollars with growing population. Nigeria is currently the 50th largest export market for U.S goods and the 14th largest exporter of goods to the U.S. Nigeria used part of its oil profits to pay the residual 40% freeing up at least $ 1.15 billion annually for poverty reduction programs.
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