Development is a complex concept that encompasses multiple indicators such as GDP per capita, human development, infrastructure, and social well-being. By examining these criteria, we can identify which black country has made significant strides in achieving higher levels of development.
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1. Algeria
Algeria tops this list with a Gross National Income (GNI) per capita of $3,660 and a Gross Domestic Product (GDP) per capita of $3,691. Its total GDP is $163 billion.
Algeria has earned a spot as a member of OPEC and heavily relies on its oil and gas sector, which generates over 95% of its export revenue. Algeria also has a well-developed agriculture sector contributing to its economy.
However, despite its wealth, Algeria faces economic challenges such as high youth unemployment and the need to diversify its economy.
2. Ethiopia
According to the International Monetary Fund (IMF), Ethiopia is poised to overtake Kenya as the fourth-largest economy in sub-Saharan Africa. This is attributed to the country’s efforts to reduce armed conflict and implement significant economic reforms.
Ethiopia, known for being one of Africa’s fastest-growing but relatively closed economies, is projected to achieve a GDP of $126.2 billion in the current year, experiencing a notable growth rate of 13.5%.
This development is impressive, and it is expected that Ethiopia’s economy will continue to expand in the future.
3. Botswana
Botswana has a Gross National Income (GNI) per capita of $6,430. The country’s Gross Domestic Product (GDP) per capita is $6,805, and its overall GDP is $17 billion.
Botswana’s diamond industry has played a significant role in its economic growth, contributing substantially to its prosperity. The country boasts a well-established infrastructure and a stable political environment, making it an appealing destination for foreign investment.
Botswana’s government has implemented policies to encourage economic diversification, with a particular emphasis on developing the tourism sector.
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4. Angola
Angola is poised to regain its position as the third-largest economy in sub-Saharan Africa, a move propelled by a resurgence in growth driven by surging oil prices. With Nigeria leading as the largest oil producer on the continent, Angola follows closely behind and boasts substantial rough diamond production as well.
According to the International Monetary Fund (IMF), Angola’s GDP is projected to expand by 8.6% this year, reaching an impressive $135 billion. This substantial growth represents a notable increase compared to previous years, and Angola’s economy is expected to continue its upward trajectory in the years ahead.
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5. South Africa
According to the IMF, South Africa is expected to maintain its status as the second-largest economy in sub-Saharan Africa, with a projected GDP of $422 billion for the current year.
This noteworthy figure highlights the significant economic strength of South Africa, and it is anticipated that the country’s economy will continue to experience growth in the years ahead.
6. Kenya
According to the International Monetary Fund (IMF), Kenya’s GDP is expected to experience a moderate growth rate of 2.4% this year.
This projection considers various factors, including the lingering effects of the Covid-19 pandemic, challenges posed by drought, concerns about the electioneering period, and the impact of disrupted global supply chains.
As per the IMF’s estimations, Kenya’s GDP is anticipated to reach approximately $117.6 billion in the current year.
While this growth rate places Kenya behind Angola and Ethiopia in terms of GDP, Kenya’s economy remains one of the key economies to monitor within the region, despite the slower growth trajectory.
7. Nigeria
Nigeria, as the leading economy in sub-Saharan Africa, continues to maintain its prominent position in the region’s economic rankings.
According to the IMF’s projections, Nigeria’s GDP is expected to reach an impressive $574 billion this year. This significant figure reflects the country’s robust economic growth, and Nigeria is poised to sustain this positive trajectory in the years ahead.
8. Benin
Benin’s economy has also been steadily growing in recent years, with a GDP of $17 billion, albeit at a relatively smaller scale compared to Nigeria.
As a member of the Economic Community of West African States (ECOWAS), Benin benefits from regional economic integration and trade.
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9. Burkina Faso
Burkina Faso, which is in sub-Saharan Africa, has also experienced positive economic development as its economy has been growing rapidly, with a steady GDP of $20 billion and a GDP per capita of $893.
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10. Cameroon
The country is recognized as a key player in the region’s economic development, making significant strides of its own with a GDP of $45 billion and an outstanding GDP per capita of $1, 667.
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