Your email address will not be published. The sectors that contribute to the economy the most are the tourism sector – thousands of people visit the country annually and stay at the Moroccan seaside resorts. The country is made up out of multiple small islands, approximately 115. By territory, this country is the largest in Africa. This country also has a lot of gemstones and metals that are important to the economy and can be exported to other countries. A significant quantity of goods consumed here is imported, hence highly priced. In general, Swaziland is a country which is developing very quickly, the GDP per capita income is estimated to be $9,882. According to the official data from 2012, 54 African countries are home to more than 1 billion people. ... What is the richest country in Africa 2020? The Moroccan economy is known as the relatively liberal one, which is contributed by the supply and demand law. However, the government expands its revenue base under the influence of a fast-growing oil industry. Top 20 richest countries in Africa 2018 . Also, the state has a small population, which combined with the oil revenues gives Libya a place in the rating of the richest countries in Africa according to the GDP per capita. This is quite easy to believe because the country’s population is far below a million inhabitants while the GDP hovers around $2.4 billion. Also, fishing and processing of the natural resources like coconuts play a huge role. However, even though Equatorial Guinea holds the first place in richest countries rating, the human development index of the country is quite low – 136th place. Although South Africa is restricted to the seventh position on this list, the country has the highest number of African dollar billionaires. Like Seychelles, the territory of Mauritius is an island surrounded by the Indian Ocean. The World Bank considers Algeria to be the upper-middle country, just like a majority of the countries on this list. The country has a GDP of about $11,528. Africa is one of the largest continents in the world in terms of landmass. TOP 20 RICHEST MUSICIANS IN AFRICA AND THEIR NET WORTH. Things that are appealing to the tourists on this island are spectacular beaches, warm climate, and relaxing ocean water. Besides, the country benefits largely from vibrant financial services. Although Angola is still recovering from many years of civil war, it is slowly finding its way back to becoming a developed country. African economy is slowly but surely developing and becoming better, and the improvement is visible compared to the previous years. Speaking candidly, Nigeria is Africa’s foremost economy but with regard to its GDP (PPP) per capita of $6,027, it sits in the sixteenth position among Africa’s richest countries. South Africa, the country richest in Africa with more than $500 billion by Gross Domestic Value. Morocco is considered as Africa’s twelfth richest country and its GDP (PPP) per capita hovers around $8,933. With its population estimated fairly above 2 million inhabitants, Botswana is unarguably one of the least populous African countries. In economic analysis, it is important to clarify that real GDP is slightly different from GDP per capita because the former measures economic growth while the latter [GDP per capita] measures economic development as it facilitates a country’s standard of living. Namibia is described to be a country with the emerging economy. In our rating, Egypt is ranked eighth, with the GDP of $12,994. It relies a lot on the hydrocarbons, such as natural gas and petroleum. However, some countries have fast-growing economies, and we will have a closer look at these and learn what the main source of their wealth is. Africa has … At the same time, the energy industry contributes more than 95% of Algeria’s export revenue. Cote d’Ivoire –also known as Ivory Coast –is a West African country that depends heavily on agriculture. Usually, agriculture is really difficult there, because of the constant droughts and regular lack of rain. Now, it attracts tourists from all over the world, which means that the greatest source of income in Mauritius is tourism. Many poorest countries found in the continent of Africa. With a total of 15.5 million inhabitants, Zambia is one of the fairly-populated African countries and over the past few years, it has achieved a remarkable level of economic growth. Currently, the strongly sophisticated system of banking and the low levels of debt to the foreign countries are the criteria that could define Botswana. Yearly, the average growth of real GDP is estimated at 6.7%, giving Zambia the hope to advance better in years to come.

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