{"id":48799,"date":"2024-11-24T18:59:12","date_gmt":"2024-11-24T18:59:12","guid":{"rendered":"https:\/\/www.africa-press.net\/lesotho\/all-news\/top-10-african-countries-and-their-contribution-to-africas-gdp"},"modified":"2024-11-24T19:35:14","modified_gmt":"2024-11-24T19:35:14","slug":"top-10-african-countries-and-their-contribution-to-africas-gdp","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/lesotho\/all-news\/top-10-african-countries-and-their-contribution-to-africas-gdp","title":{"rendered":"Top 10 African countries and their contribution to Africa\u2019s GDP"},"content":{"rendered":"<p><b>Adekunle Agbetiloye<\/b><\/p>\n<p><span style=\"color: #ff6600\"><strong>Africa-Press &#8211; Lesotho. <\/strong><\/span>As of 2023, Egypt held the largest share of Africa\u2019s GDP at 13.63%, according to an IMF report, followed by South Africa with 13.01%, and Nigeria in third place with 12.50%.<\/p>\n<p>When we talk about the strength of a country\u2019s economy, one of the first measures that comes to mind is Gross Domestic Product (GDP).<\/p>\n<p>This term is frequently mentioned in economic discussions, news reports, and policy briefs. But what does GDP mean? And, more specifically, how do the percentages of GDP contributions by different African countries reflect their influence on the continent\u2019s total economy?<\/p>\n<p>GDP is the total monetary value of all the goods and services produced within a country\u2019s borders over a specific period, typically a year. It is a scorecard of a country\u2019s economic health, which shows how well a nation is utilizing its resources to produce wealth.There are three common ways to calculate GDP: by production, which is the total value of goods and services produced; by income, which sums wages, profits, and taxes minus subsidies; and by expenditure, which measures total spending on a nation\u2019s goods and services.<\/p>\n<p>Africa\u2019s 54 countries contribute differently to the continent\u2019s total GDP. Some nations stand out as economic powerhouses, while others are emerging or struggling due to various challenges such as political instability, poor infrastructure, or lack of diversification.<\/p>\n<p>As of 2023, Egypt held the largest share of Africa\u2019s GDP at 13.63%, according to data from Statisense, sourced from IMF, followed by South Africa with 13.01%, and Nigeria in third place with 12.50%.<\/p>\n<p>However, according to the latest African Economic Outlook from the African Development Bank Group, 41 African countries are expected to experience stronger growth rates in 2024 compared to 2023.The International Monetary Fund (IMF) also shares this positive sentiment, predicting that six of the top 10 performing economies worldwide in 2024 will be from Sub-Saharan Africa.<\/p>\n<p>Below are the top 10 African countries and their contribution to Africa\u2019s GDP:<br \/>\n<img loading=\"lazy\" decoding=\"async\" width=\"928\" height=\"640\" class=\"alignnone wp-image-48797 size-full\" src=\"https:\/\/static.africa-press.net\/lesotho\/sites\/62\/2024\/11\/sm_1732464085.50973.jpg\" srcset=\"https:\/\/static.africa-press.net\/lesotho\/sites\/62\/2024\/11\/sm_1732464085.50973.jpg 928w, https:\/\/static.africa-press.net\/lesotho\/sites\/62\/2024\/11\/sm_1732464085.50973-300x207.jpg 300w, https:\/\/static.africa-press.net\/lesotho\/sites\/62\/2024\/11\/sm_1732464085.50973-768x530.jpg 768w, https:\/\/static.africa-press.net\/lesotho\/sites\/62\/2024\/11\/sm_1732464085.50973-100x70.jpg 100w, https:\/\/static.africa-press.net\/lesotho\/sites\/62\/2024\/11\/sm_1732464085.50973-218x150.jpg 218w\" sizes=\"auto, (max-width: 928px) 100vw, 928px\" \/><\/p>\n<p><strong>For More News And Analysis About <span style=\"color: #ff6600\">Lesotho<\/span> Follow <span style=\"color: #ff6600\">Africa-Press<\/span><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Adekunle Agbetiloye Africa-Press &#8211; Lesotho. As of 2023, Egypt held the largest share of Africa\u2019s GDP at 13.63%, according to an IMF report, followed by South Africa with 13.01%, and Nigeria in third place with 12.50%. When we talk about the strength of a country\u2019s economy, one of the first measures that comes to mind [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":48798,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,6],"tags":[245],"class_list":["post-48799","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-files","tag-lesotho"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Top 10 African countries and their contribution to Africa\u2019s GDP - Lesotho<\/title>\n<meta name=\"description\" content=\"As of 2023, Egypt held the largest share of Africa\u2019s GDP at 13.63%, according to an IMF report, followed by South Africa ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/lesotho\/all-news\/top-10-african-countries-and-their-contribution-to-africas-gdp\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Top 10 African countries and their contribution to Africa\u2019s GDP\" \/>\n<meta property=\"og:description\" content=\"As of 2023, Egypt held the largest share of Africa\u2019s GDP at 13.63%, according to an IMF report, followed by South Africa ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/lesotho\/all-news\/top-10-african-countries-and-their-contribution-to-africas-gdp\" \/>\n<meta property=\"og:site_name\" content=\"Lesotho\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2024-11-24T18:59:12+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-11-24T19:35:14+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/lesotho\/sites\/62\/2024\/11\/sm_1732464089.176748.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1067\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/lesotho\/all-news\/top-10-african-countries-and-their-contribution-to-africas-gdp#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/lesotho\/all-news\/top-10-african-countries-and-their-contribution-to-africas-gdp\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/lesotho\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Top 10 African countries and their contribution to Africa\u2019s GDP\",\"datePublished\":\"2024-11-24T18:59:12+00:00\",\"dateModified\":\"2024-11-24T19:35:14+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/lesotho\/all-news\/top-10-african-countries-and-their-contribution-to-africas-gdp\"},\"wordCount\":343,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/lesotho\/all-news\/top-10-african-countries-and-their-contribution-to-africas-gdp#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/lesotho\/sites\/62\/2024\/11\/sm_1732464089.176748.jpg\",\"keywords\":[\"Lesotho\"],\"articleSection\":[\"all news\",\"files\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/lesotho\/all-news\/top-10-african-countries-and-their-contribution-to-africas-gdp#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/lesotho\/all-news\/top-10-african-countries-and-their-contribution-to-africas-gdp\",\"url\":\"https:\/\/www.africa-press.net\/lesotho\/all-news\/top-10-african-countries-and-their-contribution-to-africas-gdp\",\"name\":\"Top 10 African countries and their contribution to Africa\u2019s GDP - 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