Nigeria Overtakes South Africa As Africa Biggest Economy

Nigeria currently leads as the top economy on the continent with a 1.9 per cent 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.

Here are the 7 biggest economies in Africa right now, ranked in descending order of wealth:

1. 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.

2. 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.

3. South Africa
GDP - $765.5 billion. Tourism is a major revenue generating industry.

4. Algeria
GDP -$630.5 billion. The non-hydrocarbon sector (petroleum and natural gas) is the major contributor to the country’s economy.

5. Ethiopia
GDP -$199.3 billion. The services and agriculture sectors contribute heavily to the country's economy.

6. 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.

7. 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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Amos Fougah Ajamah and 28 others

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Niyeck Nandack

Endy, you bring this kind of topic when you know most people have certificates but are not educated. It will just trigger trading of insults. It is the budget and the growth rate that determine whether a country is doing well or not. Not the GDP. Our budget in 1983 was 25billion US$ for a population of 65 million. The budget of 2019 is about 22 US$ billion for 200 million people. We need about 150 billion US$ to invest in the power sector in order to get some result. If you want to know roughly whether a country is rich or poor, just divide its budget by its population and you will see the ratio. For Nigeria, it is less than 30 thousand Naira per each Nigerian per year. In Equatorial Guinea, it is about 236 thousand Naira per person per year. We are not even amongst the the top 20 in Africa. Our economy is growing by 1.8 %. FG projected 3.5 in 2018 budget. We were growing at about 6% some years back. Senegal, Ivory coast, etc are growing at 8%. So, we are not doing well especially as the population growth is about 3%. That is > economic growth.