What Are Some Major African Countries?

What Are Some Major African Countries?

As of 2015, the top five major African countries with the largest economies were South Africa, Egypt, Nigeria, Algeria and Morocco. In places six through 10 are the nations Angola, Sudan, Ethiopia, Tunisia and Ghana.

South Africa is the richest African country, with a gross domestic product of $576.1 billion. South Africa is quickly developing nation and has many natural resources, including gold, diamonds and platinum. Its stock exchange is the 18th biggest in the world.

Egypt has the second-largest African economy with a gross domestic product of $534.1 billion. Egypt generates its revenue from its natural resources of coal, oil, natural gas and hydro power. Its economy has continuously grown since the 1990s, but the country's lack of freedom has restricted growth.

With a gross domestic product of $521.8 billion, Nigeria has the third-largest economy inAfrica. Eighty-five percent of Nigeria's foreign income comes from crude oil, but the government has not made much effort to diversify its economy. With a population of 160 million, Nigeria is one of Africa's largest markets, but it buys almost more than it sells.

Algeria's gross domestic product of $272.5 billion puts its economy in fourth place in Africa. Crude oil accounts for 60 percent the country's budget revenues, 30 percent of the gross domestic product and more than 95 percent of export earnings.

Morocco has the fifth-largest economy in Africa with a gross domestic product of $168.9 billion. Agriculture plays a big role in Morocco's economy, and revenue comes from phosphorus, tourism, textiles and apparel. Morocco's proximity to Europe has also contributed to its economic growth.