The world economy was disrupted in 2020, due to the outbreak of the covid-19 pandemic, which brought economic activities to a halt in most countries, with Africa not exempted from the downturn.

In 2020, a number of African countries fell into economic recession including Nigeria, however, the list of top economies per capita, remains fairly unchanged compared to the previous year.

According to data obtained from the World Bank, the Sub-Saharan African economy declined by 2.45% in 2020 from $1.85 trillion recorded in 2019 to $1.81 trillion. Also, the middle East and North Africa region recorded a 3.66% contraction in its economy to an aggregate of $3.37 trillion.

With the need to constantly monitor the performance of the world economies in relation to Nigeria, Nairametrics analyses the top economies on the African continent based on their GDP per capita in 2020 and their performance year-to-date based on available data.

Here are the top 6.

South Africa – $5,090.72
Position – 6th

South Africa is the second-largest economy in Africa, second only to Nigeria with an estimated population of over 59.3 million people. It boasts of a GDP per capita of $5,090.72 to stand in sixth position. The country’s GDP per capita declined by 15.8% from $6,001.4 recorded in the preceding year.

This implies that an average individual in South Africa recorded an estimated output of $5,090.72 in 2020. Meanwhile, the country’s GDP grew by 1.1% in real terms in the first quarter of 2021.

According to the statistics department of the Republic of South Africa (STATSSA) the finance, mining and trade industries were the main drivers of output on the production (supply) side of the economy, while household spending and changes in inventories helped spur growth on the expenditure (demand) side.


Botswana – $6,710.99
Position – 5th

Botswana, a country in the centre of Southern Africa with a population of 2.35 million people, recorded the fifth highest GDP per Capita in Africa at $6,710.99. The country’s GDP in 2020 stood at $17.18 billion, representing a 7.89% decline compared to $18.65 billion recorded in the previous year.

In the same vein, its GDP per capita recorded a 15.8% decline from an aggregate of $7,970 printed in 2019.

Meanwhile, reports indicate that on an annual basis, Botswana’s real GDP growth continued to worsen as a result of the impact of COVID-19 pandemic. Real GDP contracted by 8.6% year-on-year in Q1 2021.

Gabon – $7,005.88
Position – 4th

Gabon, a country on the west coast of Africa boasts of being the fourth highest economy in Africa based on GDP per individual with $7,005.88 and an estimated population of 2.23 million people based on data obtained from the World Bank.

The latest figure represents a 9.8% decline when compared to $7,767.02 recorded in the previous year, having recorded a 1.32% contraction in GDP value to stand at $19.67 billion.

The decline is in tandem with the downturn recorded by most economies of the world, as a result of the covid-19 pandemic.

Equatorial Guinea – $7,143.24
Position – 3rd

Equatorial Guinea recorded a GDP per capita of $7,143.24 in 2021, representing the third highest on the African continent in the review period.

The country’s GDP per capita declined by 15.2% compared to $8,419.93 recorded in the preceding year as a result of the 4.89% decline in the aggregate GDP. Its GDP stood at $11.88 billion in the period under review.

Equatorial Guinea is a small country on the west coast of the African continent with an estimated population size of 1.4 million people.

Mauritius – $8,622.68
Position – 2nd

Second on the list is Mauritius, with an estimated GDP per capita of $8,622.68. This is 22.3% lower than $11,097.59 recorded in 2019.

Mauritius is a subtropical island country in the Indian Ocean, just over 1,130 kilometres east of Madagascar, off the south-eastern coast of Africa.

Its aggregate GDP in 2021 stood at $11.74 billion, representing 14.87% decline compared to $13.79 billion recorded in 2019.

Seychelles – $11,425.09
Position – 1st

Seychelles is a country located in the Indian Ocean which, between 480 and 1,600 km from the east coast of Africa. It has an estimated population of 98,462, one of the lowest on the African continent. Its GDP per capita in 2020 stood at $11,425.09, representing the highest recorded in Africa in the period.

Its GDP per capita recorded a significant decline of 29.5% from $16,198.52 recorded in 2019 to $11,425.09 in 2020. This is as a result of the 10.72% decline in the aggregate GDP in the period. The country’s GDP stood at $1.24 billion in the review period.

However, Fitch has forecasted that the country’s GDP will rebound by a 5% growth in 2021, driven by a robust resumption of tourist activities, favourable base effects, and supported by expansionary fiscal and monetary policies.

Bubbling under
Namibia – $4,211.05
Libya – $3,699.23
Egypt – $3,547.87
Eswatini – $3,415.46

Nigeria ranks 17th in Africa despite its economic value
Nigeria, the ‘giant of Africa’ and the most populous country in the region with over 200 million people residing in the country according to World Bank estimates, boasts of being the largest economy on the continent with an aggregate GDP of $468.6 billion.

Nigeria’s GDP per capita stood at $2,097.09 in 2020 to rank 17th on the list of African countries, representing a 6% decline compared to $2,229.86 recorded in the previous year. Despite, recording the highest aggregate GDP, it is no surprise that Nigeria’s GDP per capita paints a less than stellar picture as the population size is enormous compared to other countries in the region.

Notably, Nigeria’s population of around 206.1 million accounts for about 18% of the entire sub-Saharan African, which in essence affects the per capita output. However, it is no excuse as the country has the human resources and youthful population to spur significant economic growth.

Meanwhile, Nigeria’s real GDP recorded a 5.01% growth in the second quarter of 2021, largely driven by growth in the trade, ICT and electricity sector. It was also spurred by a favourable base period. Recall that in the corresponding period of 2020, Nigeria’s real GDP declined by 6.1% year-on-year.

Note: GDP per capita is an important metric that breaks down a country’s economic output per person and is calculated by dividing the GDP of a country by its population size.



https://nairametrics.com/2021/09/03/top-10-countries-in-africa-by-gdp-per-capita-nigeria-ranks-17th/

This is where we miss Oga Ebele Jonathan.....


Even when he was accused of stealing money and promoting corruption.. This regime have doubled the standard.....

yanabasee2:
This where we miss Oga Ebele Jonathan.....


Even when he was accused of stealing money and promoting corruption.. This regime have doubled the standard.....

Stop living in the past Mr Man, are you not aware that stealing of public funds is not corruption?.

Buckeyemedia1:
Stop living in the past, are you not aware that stealing of public funds is not corruption.

Get out!!

yanabasee2:
This is where we miss Oga Ebele Jonathan.....


Even when he was accused of stealing money and promoting corruption.. This regime have doubled the standard.....

What does your state produce to add value to Nigeria’s Gross Domestic Product?

yanabasee2:


Get out!!

The irony is that the people that add no value to society are the ones that make the most noise, ask them what their states added to the GDP of Nigeria, they will call President Buhari? State leaches on the National Treasury, Mofos.

yanabasee2:
This is where we miss Oga Ebele Jonathan.....


Even when he was accused of stealing money and promoting corruption.. This regime have doubled the standard.....

Yes doubled the standard of siphoning public funds learnt from their sister Pdp? PDP like NPN, free stealing is their policy.

Buckeyemedia1:
The irony is that the people that add no value to society are the ones that make the most noise, ask them what their states added to the GDP of Nigeria, they will call President Buhari? State leaches on the National Treasury, Mofos.

I don't have the energy to engage any Aboki like this.... Carry your brainblocked zombie attitude to your cow dung brothers in the North...


Like this.... I no get your time!!

Buckeyemedia1:
Stop living in the past Mr Man, are you not aware that stealing of public funds is not corruption?.

According to a APC governor Bandits are not criminals

Buckeyemedia1:
What does your state produce to add value to Nigeria’s Gross Domestic Product?

Dude, I am from an oil producing state.... Highest oil producing state... ..

Just imagine Nigeria had 20million people, our GDP per Capita would have been more than $20,000..

Nigeria is too small for over 200million people..

Imagine USA 10 times the size of Nigeria having just 320million people..

Let's not even talk about Canada that's even bigger than the USA with just 38million people. It's no wonder there are more jobs than the people can take on.

Nigerians should only give birth to the numbers of children they can care for financially

Instead of giving birth to our own children We should always try the concept of adoption.. I wonder why Africans frown against it.

tutudesz:

According to a APC governor Bandits are not criminals

Learn to read properly, it says not all bandits are criminals, just like not all ipobians are criminals.

yanabasee2:



Dude, I am from an oil producing state.... Highest oil producing state... ..

Big deal, what value has your state added to your life, Almijiri that will be shouting President Buhari every day? How many refineries has your state built with all the money they have received from the FAAC?

Buckeyemedia1:
Learn to read properly, it says not all bandits are criminals, just like not all ipobians are criminals.

The meaning of Bandit- A robber or outlaw belonging to a gang and typically operating in an isolated or lawless area.
So according to you, not all Bandits are criminals too, just like not all Bokoharam are terrorist too

tutudesz:

The meaning of Bandit- A robber or outlaw belonging to a gang and typically operating in an isolated or lawless area.
So according to you, not all Bandits are criminals too, just like not all Bokoharam are terrorist too

I don’t care what you think, what did the Governor say? Isn’t ipob outlawed in Nigeria? Aren’t they bandits from the east?

internationalman:
Just imagine Nigeria had 20million people, our GDP per Capita would have been more than $20,000..

Nigeria is too small for over 200million people..

Imagine USA 10 times the size of Nigeria having just 320million people..

Let's not even talk about Canada. No wonder there are more jobs than the people can take on.

200 Million people will also drive the wage rate low too.

Buckeyemedia1:
I don’t care what you think, what did the Governor say?

Are Bandits criminals yes or no

tutudesz:

Are Bandits criminals yes or no

Are Ipobians Criminals, Yes or No?

I personally don't believe that Nigeria's population is 212 million


It should be around 180 million

But that doesn't change the fact that we are the poverty capital of the world

Nigeria is just to complex to be led by illiterates

See that most of the countries in Africa that have high GDP' per capita have populations less than Lagos State

Buckeyemedia1:
Are Ipobians Criminals, Yes or No?

According to Government yes. while to the world Bandits are criminals, but to Government and people like you aren't

theInterpreter:
I personally don't believe that Nigeria's population is 212 million


It should be around 180 million

But that doesn't change the fact that we are the poverty capital of the world

Nigeria is just to complex to be led by illiterates

See that most of the countries in Africa that have high GDP' per capita have populations less than Lagos State

Well blame your people, you have refused to work, waiting for Government for everything.

Buckeyemedia1:
Well blame your people, you have refused to work, waiting for Government for everything.

and who do you think are "my people"?

tutudesz:

According to Government yes. while to the world Bandits are criminals, but to Government and people like you aren't

One man’s freedom fighter is another person’s terrorist, go & tell Israel that Hezbollah are freedom fighters, they will gas you with a nerve agent.

Buckeyemedia1:
Big deal, what value has your state added to your life, Almijiri that will be shouting President Buhari every day? How many refineries has your state built with all the money they have received from the FAAC?

The FG controls the oil sector.... If they'd be restructuring now... I'll prove to you that my state will be a Dubai...


Secondly, an average almajiri is directly and indirectly benefiting from the oil proceeds send to the North to develop the North.... GEJ build schools for almajiris and that was do e from the proceeds generated from 5he oil sector which is contributing as the highest to the country's budgets....


If you think that you aren't benefiting from 5he oil money... then allow the south to break free... Let's see how you'll survive with your zamfara gold's alone... Let's see how you'll oppress Benue and Kogi from their natural resources....

yanabasee2:



The FG controls the oil sector.... If they'd be restructuring now... I'll prove to you that my state will be a Dubai...


Secondly, an average almajiri is directly and indirectly benefiting from the oil proceeds send to the North to develop the North.... GEJ build schools for almajiris and that was do e from the proceeds generated from 5he oil sector which is contributing as the highest to the country's budgets....


If you think that you aren't benefiting from 5he oil money... then allow the south to break free... Let's see how you'll survive with your zamfara gold's alone... Let's see how you'll oppress Benue and Kogi from their natural resources....

Ogogoro & wrapper people your state will be like Dubai? Have you been to the Emirates, can you mention one mega project NDDC has commissioned in the whole Niger Delta? Ok it is Fulani’s fault your people are backward thinkers?

yanabasee2:



The FG controls the oil sector.... If they'd be restructuring now... I'll prove to you that my state will be a Dubai...


Secondly, an average almajiri is directly and indirectly benefiting from the oil proceeds send to the North to develop the North.... GEJ build schools for almajiris and that was do e from the proceeds generated from 5he oil sector which is contributing as the highest to the country's budgets....


If you think that you aren't benefiting from 5he oil money... then allow the south to break free... Let's see how you'll survive with your zamfara gold's alone... Let's see how you'll oppress Benue and Kogi from their natural resources....

One refinery all that states in the your region jointly or severely they can’t build, you are blaming other people for your own peoples mumurism? Using Federal allocation to pay state workers salaries you no get shame? What is the IGR of your state?

Buckeyemedia1:
Ogogoro & wrapper people your state will be like Dubai? Have you been to the Emirates, can you mention one mega project NDDC has commissioned in the whole Niger Delta? Ok it is Fulani’s fault your people are backward thinkers?

Between the south and the North... Which region is backward?


You're lame and have nothing to say...

Buckeyemedia1:
One man’s freedom fighter is another person’s terrorist, go & tell Israel that Hezbollah are freedom fighters, they will gas you with a nerve agent.

So Bandits are freedom fighter I pointed a stupid statement made by a governor and you defended him.
Next time Niger Delta militant to attack me and not Ipob

yanabasee2:



Between the south and the North... Which region is backward?


You're lame and have nothing to say...

Mention one monumental project in your state that is not a Federal project, with all the 13% extra money from FAAC every month,, nothing to show? Wailing Wailer, it is Hausa Fulani that mismanaged the money?

tutudesz:

So Bandits are freedom fighter I pointed a stupid statement made by a governor and you defended him.
Next time Niger Delta militant to attack me and not Ipob

Niger Delta Militants? Some people no get sense. The worst Miscreants, ipob are educated civil people compared to those bunch of illiterate creek rats.

Buckeyemedia1:
Niger Delta Militants? Some people no get sense. The worst Miscreants, ipob are educated civil people compared to those bunch of creek rats.

Nigeria is on this list because of the creek rats

tutudesz:

Nigeria is on this list because of the creek rats

Boko Haram, Mend, Ipob are all the same, I believe Jonathan was the person that chased Henry Okah from Nigeria & got The South African Government to jail him in South Africa for global terrorism committed in Nigeria?