Nigeria currently leads as the top economy on the continent with a 1.9 percent increase. Nigeria has the biggest economy in Africa according to PwC. PricewaterhouseCoopers has revealed the seven biggest economies in Africa right now.
The firm’s report, ‘Nigeria Economic Outlook - Top 10 themes for 2019,’ was released on February 18, 2019.
According to the data provided by the professional services firm, Nigeria has the biggest economy on the continent, followed by Egypt and South Africa.Nigeria Beats South Africa As Africa Biggest Economy Here are the 7 biggest economies in Africa right now, ranked in descending order of wealth:
Nigeria
Nigeria comes in at number one with a GDP of $1.121 trillion. Manufacturing, financial, service, communications, technology, entertainment, agriculture and oil sectors all contribute to the country’s economy.
More money is coming into the Nigerian economy More money is coming into the Nigerian economy More money is coming into the Nigerian economy.
Egypt
GDP – $1.13 trillion. Sectors like tourism, gas, telecom and construction play major roles in Egypt’s economy. The World Bank (WB) predicts that the country’s economy will increase by 5.7% in 2019.
South Africa
GDP – $765.5 billion. Tourism is a major revenue generating industry.
Algeria
GDP -$630.5 billion. The non-hydrocarbon sector (petroleum and natural gas) is the major contributor to the country’s economy.
Ethiopia
GDP -$199.3 billion. The services and agriculture sectors contribute heavily to the country’s economy.
Angola
GDP – $197.9 billion. The country’s economy relies heavily on the oil sector in addition to the manufacturing, agricultural, transport and fisheries sectors.
Angolan 500 Kwanza note Angolan 500 Kwanza note Angolan 500 Kwanza note
Still, Focus Economics, a major provider of economic analysis and forecasts for 130 countries, predicts a 1.3% increase in 2019.
Kenya
Last on the list is Kenya with a GDP of $163.3 billion. Major industries include financial, agriculture, tourism, mining and minerals.
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