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Here are the 7 Biggest Economies in Africa at the Moment

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
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:

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

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.

 PwC's Nigeria Economic Outlook - Top 10 themes for 2019

PwC’s Nigeria Economic Outlook - Top 10 themes for 2019

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

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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