List of African countries by GDP growth

Last updated

Economic growth in the early 2020s

According to 2024 estimates by the African Development Bank Group, African countries are projected to account for more than half of the world fastest growing economies; in particular, Niger, Senegal, Libya and Rwanda are expected to grow at the fastest rate of over 7% per year. [1]

Contents

Estimates of Real Gross Domestic Product (GDP) growth rate in 2023 show that most African countries were at the 5% growth mark. [2] At that time, Libya was leading the continent at 17.5%, with Senegal following at 8.3%. DRC, Côte d'Ivoire and Rwanda also made the top five performing countries. At the bottom of the list, South Africa had a growth rate of 0.1% while Equatorial Guinea's economy had receded with a rate of -1.8%.

World Bank estimates for 2022 presented a different picture, with Niger leading economic growth at 11.5%, South Sudan receding at a rate of -10.8% and the continent as a whole seeing an average of 4.2% growth. [3]

2023 growth figures

This is a list of estimates of the real gross domestic product growth rate (not rebased GDP) in African states for 2023 recorded in the CIA World Factbook. Only fully recognised sovereign states with United Nations membership are included on this list.

List

Real GDP Growth Rates in Africa (2023) [4]
RankCountryGDP growth
rate (%)
Year
1Flag of Libya.svg  Libya Increase2.svg 10.22023 est.
2Flag of the Democratic Republic of the Congo.svg  Democratic Republic of the Congo Increase2.svg 8.62023 est.
3Flag of Rwanda.svg  Rwanda Increase2.svg 8.22023 est.
4Flag of Mauritius.svg  Mauritius Increase2.svg 7.02023 est.
5Flag of Guinea.svg  Guinea Increase2.svg 6.72023 est.
Flag of Djibouti.svg  Djibouti Increase2.svg 6.72023 est.
7Flag of Mauritania.svg  Mauritania Increase2.svg 6.52023 est.
Flag of Ethiopia.svg  Ethiopia Increase2.svg 6.52023 est.
9Flag of Togo (3-2).svg  Togo Increase2.svg 6.42023 est.
Flag of Benin.svg  Benin Increase2.svg 6.42023 est.
11Flag of Cote d'Ivoire.svg  Côte d'Ivoire Increase2.svg 6.22023 est.
12Flag of Sierra Leone.svg  Sierra Leone Increase2.svg 5.72023 est.
13Flag of Kenya.svg  Kenya Increase2.svg 5.62023 est.
14Flag of Cape Verde.svg  Cabo Verde Increase2.svg 5.52023 est.
15Flag of Mozambique.svg  Mozambique Increase2.svg 5.42023 est.
Flag of Zambia.svg  Zambia Increase2.svg 5.42023 est.
17Flag of Uganda.svg  Uganda Increase2.svg 5.32023 est.
Flag of Zimbabwe.svg  Zimbabwe Increase2.svg 5.32023 est.
19Flag of Guinea-Bissau.svg  Guinea-Bissau Increase2.svg 5.22023 est.
20Flag of Tanzania.svg  Tanzania Increase2.svg 5.12023 est.
21Flag of Eswatini.svg  Eswatini Increase2.svg 5.02023 est.
Flag of Eritrea.svg  Eritrea Increase2.svg 5.02017 est.
23Flag of The Gambia.svg  The Gambia Increase2.svg 4.82023 est.
24Flag of Liberia.svg  Liberia Increase2.svg 4.72023 est.
Flag of Mali.svg  Mali Increase2.svg 4.72023 est.
26Flag of Senegal.svg  Senegal Increase2.svg 4.62023 est.
27Flag of Somalia.svg  Somalia Increase2.svg 4.22023 est.
Flag of Namibia.svg  Namibia Increase2.svg 4.22023 est.
29Flag of Chad.svg  Chad Increase2.svg 4.12023 est.
Flag of Algeria.svg  Algeria Increase2.svg 4.12023 est.
31Flag of Madagascar.svg  Madagascar Increase2.svg 3.82023 est.
Flag of Egypt.svg  Egypt Increase2.svg 3.82023 est.
33Flag of Morocco.svg  Morocco Increase2.svg 3.42023 est.
34Flag of Cameroon.svg  Cameroon Increase2.svg 3.32023 est.
35Flag of Seychelles.svg  Seychelles Increase2.svg 3.22023 est.
36Flag of the Comoros.svg  Comoros Increase2.svg 3.02023 est.
Flag of Burkina Faso.svg  Burkina Faso Increase2.svg 3.02023 est.
38Flag of Ghana.svg  Ghana Increase2.svg 2.92023 est.
Flag of Nigeria.svg  Nigeria Increase2.svg 2.92023 est.
40Flag of Botswana.svg  Botswana Increase2.svg 2.72023 est.
Flag of Burundi.svg  Burundi Increase2.svg 2.72023 est.
42Flag of Niger.svg  Niger Increase2.svg 2.52023 est.
Flag of Gabon.svg  Gabon Increase2.svg 2.52023 est.
44Flag of the Republic of the Congo.svg  Republic of the Congo Increase2.svg 1.92023 est.
Flag of Malawi.svg  Malawi Increase2.svg 1.92023 est.
46Flag of Lesotho.svg  Lesotho Increase2.svg 1.82023 est.
47Flag of Angola.svg  Angola Increase2.svg 1.02023 est.
48Flag of the Central African Republic.svg  Central African Republic Increase2.svg 0.92023 est.
49Flag of South Africa.svg  South Africa Increase2.svg 0.72023 est.
50Flag of Sao Tome and Principe.svg  São Tomé and Príncipe Increase2.svg 0.42023 est.
51Flag of Tunisia.svg  Tunisia Steady2.svg2023 est.
52Flag of Equatorial Guinea.svg  Equatorial Guinea Decrease2.svg 5.12023 est.
53Flag of South Sudan.svg  South Sudan Decrease2.svg 5.22017 est.
54Flag of Sudan.svg  Sudan Decrease2.svg 20.12023 est.

See also

References

  1. "Africa dominates list of the world's 20 fastest-growing economies in 2024 - African Development Bank says in macroeconomic report". African Development Bank Group. Retrieved 2024-05-06.
  2. "Real Gross Domestic Product (GDP) growth rate in African countries in 2023". Statista.com. Retrieved 2024-05-06.
  3. "GDP growth (annual %) - Sub-Saharan Africa". World Bank. Retrieved 2024-05-06.
  4. "The World Factbook: Field Listing - Real GDP growth rate". cia.gov. Archived from the original on 4 March 2025. Retrieved 14 March 2025.