Largest Economies in Africa

Largest Economies in Africa

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MOROCCO – GDP: $107.0 BILLION

Morocco’s economy is considered a relatively liberal economy governed by the law of supply and demand according to official source. the popular term for cannabis “morocco” originated from the fact that since the 7th century the growth of cannabis has been legalized and practised extensively in Morocco. 80% of the cannabis resin consumed in Europe comes from Morocco. Morocco is the 6th largest economy in Africa 20155.

ANGOLA – GDP: $131.4 BILLION

Angola is the 7th largest countries in Africa.Angola has vast mineral and petroleum reserves, and its economy is among the fastest growing in the world. its has the 5th largest economy in Africa. The economy of Angola is based on diamonds and oil, with it making up 60 percent of its GDP sum, almost all the country’s revenue and its major exports.

ALGERIA  – GDP: $214.1 BILLION

Algeria supplies of natural gas to Europe is of immerse measure, and energy exports make up the backbone of the economy. According to OPEC Algeria has the 17th largest reserves of oil in the world, and the second largest in Africa, while it has the 9th largest reserves of natural gas. Sonatrach, the national oil company, is the largest company in Africa.

EGYPT – GDP: $289.5 BILLION

The economy of Egypt is one of the largest and most diversified in the Middle East and Africa, with sectors such as tourism, agriculture, industry at almost equal production levels. the International Monetary Fund (IMF) has rated Egypt as one of the top countries in the world undertaking economic reforms.

SOUTH AFRICA  – GDP: $349.8 BILLION

The country on the southernmost border of Africa. and the country with the highest GDP until 2014 where it was displaced by Nigeria’s economic rebasement, South Africa is a popular tourist destination, and a substantial amount of revenue comes from tourism. Agriculture  contributes about 15% to the country’s Economy.

NIGERIA- GDP:  $568.5 Billion

Nigeria is often called the “Giant of Africa”, owing to its large population and economy.With approximately 174 million inhabitants, Nigeria is the most populous country in Africa and the seventh most populous country in the world. As of 2015, Nigeria is the world’s 20th largest economy and the largest economy in Africa.The main export of Nigeria is petroleum with Agriculture constituting an increasing percentage.

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