Checkout the below list of Top 10 Richest African Countries in 2016 and 2017. Africa is the world`s second largest and second populous most continents of the world. Almost 1.1 billion people 15% of the world`s human population of the world counts in Africa. It covers 6% of the whole earth`s surface and about 20.4% of the land area of the earth. It contains 54 fully recognized states, two independent or not recognized and nine territories states. Africa is surrounded by the Mediterranean Sea and also having Suez Canal, Red Sea, Atlantic Ocean, Indian Ocean and Sinai Peninsula at different geographical positions.
Africa has different countries and states, including developing under developing states. Some of these have a different resource to utilize while others have a better economy. Different states according to their import, export, business, trade, and resource has a different net GDP. Among these the top 10 richest countries, according to gross domestic product (GPD) per capita are:
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List of top 10 Richest African Countries in 2016
Algeria officially People`s Democratic Republic of Algeria is a sovereign state. It is the world 10th largest and Africa`s largest country. Algeria is the largest oil producer company of Africa also it provides different minerals like iron, mercury, lead, copper, etc. It is also of great importance as it provides natural gas to Europe. With net GPD of $7,500 per capita makes Algeria the 10th richest African country.
Namibia, officially the Republic of Namibia is a southern African country. Namibia got independence from South Africa in late 1900`s. Namibia is famous for its mineral production and well known for quality diamond production in the world. Namibia has a net GDP of $8,200 per capita, which ranks it 9th richest African country.
Tunisia, officially known as the Republic of Tunisia is the northernmost country of Africa. The source of income are mining, manufacturing and tourism while the major source is tourism. Tunisia shares border with the Mediterranean Sea and also with the Sahara desert. It has different lands like fertile, coastline areas. Tunisia has a net GDP of $9,900 per capita and the 8th richest African country.
Libya is a North African country. It is the 4th largest country of Africa and 16th largest country in the world. Libya is well known for its oil production as it has the 10th largest oil reserves in the world. Libya is also defined as an upper-middle economy of South Africa. With a net GDP per capita of $11,497 it is the 7th richest African country.
6. South Africa:
South Africa is a dual economy with one of the world’s highest inequality rates, owing much to the history of exclusion within the country. The South African economy is the second largest in Africa and the 28th largest in the world, leading to the World Bank to rank it as an upper-middle income economy. With net GDP per capita of $11,914 it is the 6th richest African country.
Mauritius is officially known as the Republic of Mauritius an island nation in the Indian Sea. With no natural resources to exploit the Mauritius economy has relied heavily on tourism, information technology and financial services. A tremendous economy has seen the country also attracted lots of foreign investors to invest in Mauritius. With a $16,100 GDP per capita it is the 5th richest African country.
Botswana, officially known as Republic of Botswana is a landlocked country in Southern Africa. Botswana is one of the country which revolve itself from the poorest country to middle-economy country. The sources of income are diamond mining, tourism, financial services and farming also. Botswana improved its economy a lot and still traversing success journey. It has a $17,101 GDP per capita, which stands it at 4th richest African country.
Gabonese Republic is the official name of Gabon is a sovereign state in Central Africa. Gabon gained independence in 1960 from France. With a low population density, abundant petroleum resources and foreign private investors are the key factors which make Gabon one of the prosperous country of Sub-Saharan. It is also the largest oil producer of Sub-Saharan as well. It has a net GDP per capita of 20,612 which makes it the 3rd richest country of Africa.
2. Equatorial Guinea:
Equatorial Guinea, officially name Republic of Equatorial Guinea is a sovereign state in the Central African country. It is the only country of Africa in which Spanish is an official language. Guinea has a low population, enormous oil reserves, which makes its gross production and economy better. It is one of the largest oil producer in Africa. But still there is irregularities and corruption and inequality factor among government officials and system due to which a large population lives below the poverty line. But still a net GDP of $23,370 per capita, which ranks Guinea the 2nd richest country in Africa.
Seychelles, officially known as the Republic of Seychelles is an archipelago and country in Indian ocean. The population of Seychelles is almost 92,000 only and it consists of 116 small islands. This large number of islands provide better opportunities for shipment, which reflects its tremendous revenue and growth in the economy. The major source of income for Seychelles is tourism and shipment. It has a net GDP of $25,229 per capita, which place it at the top of the richest African country.
These different states of Africa are well known having different resources and reserves for income which increment net GDP. The increment in GDP is necessary to ensure happiness and prosperity of the country and its people.