Comparing the Real Size of African Economies

(CC) Scallop Holden/ FlickrWhich are the largest and smallest economies in Africa? Which are the poorest and richest countries compared to the regional average?

The answer to these questions and many more can be found in the study “Comparing the Real Size of African Economies: Highlights of the main findings of the 2011 round of the international comparison program in Africa”, published by The Statistics Department of the African Development Bank.

The report provides a reliable basis for comparing GDP expenditures across 50 African countries using Purchasing Power Parities (PPPs).Here are some of the key findings:

-Egypt is the largest economy in Africa accounting for 23 percent of the continent’s total real GDP, compared with 17 percent for second-place South Africa. Nigeria remains Africa’s third-largest economy representing 14 percent of continental GDP.

-Africa’s four economic giants are Egypt, South Africa, Nigeria and Algeria.

-The four countries with the highest per capita GDP are Equatorial Guinea, the Seychelles, Mauritius and Gabon.

-The countries with the highest price levels are Liberia and the Comoros Islands.

-Investment was particularly high in Equatorial Guinea, Seychelles, Botswana and Mauritius.

-Mauritius, the Seychelles and Egypt are the countries with the highest per capita Actual Individual Consumption (AIC) rates.

You can consult the full findings of Africa’s ICP 2011 here.