South Africa's GDP was estimated at just over 403 billion U.S. dollars in 2024, the highest in Africa. Egypt followed, with a GDP worth around 380 billion U.S. dollars, and ranked as the second-highest on the continent. Algeria ranked third, with about 260 billion U.S. dollars. These African economies are among some of the fastest-growing economies worldwide. Dependency on oil For some African countries, the oil industry represents an enormous source of income. In Nigeria, oil generates over five percent of the country’s GDP in the third quarter of 2023. However, economies such as the Libyan, Algerian, or Angolan are even much more dependent on the oil sector. In Libya, for instance, oil rents account for over 40 percent of the GDP. Indeed, Libya is one of the economies most dependent on oil worldwide. Similarly, oil represents for some of Africa’s largest economies a substantial source of export value. The giants do not make the ranking Most of Africa’s largest economies do not appear in the leading ten African countries for GDP per capita. The GDP per capita is calculated by dividing a country’s GDP by its population. Therefore, a populated country with a low total GDP will have a low GDP per capita, while a small rich nation has a high GDP per capita. For instance, South Africa has Africa’s highest GDP, but also counts the sixth-largest population, so wealth has to be divided into its big population. The GDP per capita also indicates how a country’s wealth reaches each of its citizens. In Africa, Seychelles has the greatest GDP per capita.

The average for 2023 based on 53 countries was 27.31 million. The highest value was in Nigeria: 223.8 million and the lowest value was in the Seychelles: 0.12 million. The indicator is available from 1960 to 2023. Below is a chart for all countries where data are available.

As of 2023, the GDP of Africa was estimated at roughly 3.1 trillion U.S. dollars. This was the highest value since 2010 when the continent's GDP amounted to approximately 2.1 trillion U.S. dollars. The GDP value in Africa generally followed an upward trend in recent years and was estimated to exceed 4.2 trillion U.S. dollars by 2027.

Leading the charge: the three leading African economies

Among the African countries, in 2021, Nigeria had the highest GDP with approximately 442 billion U.S. dollars. South Africa and Egypt followed. These three countries have the largest economies for various reasons. The most notable factors are their population size, natural resources, and level of economic development. Furthermore, Africa was projected to have a real GDP growth rate of 3.9 percent in 2023. Libya was the economy experiencing the highest growth rate in that year.

The Sub-Saharan African economy on the rise

A global comparison showed that Sub-Saharan Africa had the smallest GDP among all world regions in 2021, amounting to 1.87 trillion U.S. dollars. A closer look revealed that Sub-Saharan Africa had a GDP per capita of 1,626.3 U.S. dollars in 2021, again the lowest worldwide. However, the region's economy was forecast to experience continued growth in the following years, with the real GDP increasing by 3.7 percent in 2023.

Seychelles had the largest Gross Domestic Product (GDP) per capita in Africa as of 2024. The value amounted to 21,630 U.S. dollars. Mauritius followed with around 12,330 U.S. dollars, whereas Gabon registered 8,840 U.S. dollars. GDP per capita is calculated by dividing a country’s GDP by its population, meaning that some of the largest economies are not ranked within the leading ten. Impact of COVID-19 on North Africa’s GDP When looking at the GDP growth rate in Africa in 2024, Libya had the largest estimated growth in Northern Africa, a value of 7.8 percent compared to the previous year. Niger and Senegal were at the top of the list with rates of 10.4 percent and 8.3 percent, respectively. During the COVID-19 pandemic, the impact on the economy was severe. The growth of the North African real GDP was estimated at minus 1.1 percent in 2020. However, estimations for 2022 looked much brighter, as it was set that the region would see a GDP growth of six percent, compared to four percent in 2021.
Contribution of Tourism Various countries in Africa are dependent on tourism, contributing to the economy. In 2023, travel and tourism were estimated to contribute 182.6 billion U.S. dollars, a clear increase from 96.5 in 2020 following COVID-19. As of 2024, South Africa, Mauritius, and Egypt led tourism in the continent according to the Travel & Tourism Development Index.

This dataset provides values for GDP PER CAPITA reported in several countries. The data includes current values, previous releases, historical highs and record lows, release frequency, reported unit and currency.

As of 2023, Niger registered the agricultural sector's highest contribution to the GDP in Africa, at over 47 percent. Comoros and Ethiopia followed, with agriculture, forestry, and fishing accounting for approximately 37 percent and 36 percent of the GDP, respectively. On the other hand, Botswana, Djibouti, Libya, Zambia, and South Africa were the African countries with the lowest percentage of the GDP generated by the agricultural sector. Agriculture remains a pillar of Africa’s economy Despite the significant variations across countries, agriculture is a key sector in Africa. In 2022, it represented around 17 percent of Sub-Saharan Africa’s GDP, growing by over two percentage points compared to 2011. The agricultural industry also strongly contributes to the continent’s job market. The number of people employed in the primary sector in Africa grew from around 197 million in 2011 to 230 million in 2021. In proportion, agriculture employed approximately 43 percent of Africa’s working population in 2021. Agricultural activities attracted a large share of the labor force in Central, East, and West Africa, which registered percentages over the regional average. On the other hand, North Africa recorded the lowest share of employment in agriculture, as the regional economy relies significantly on the industrial and service sectors. Cereals are among the most produced crops Sudan and South Africa are the African countries with the largest agricultural areas. Respectively, they devote around 113 million and 96.3 million hectares of land to growing crops. Agricultural production varies significantly across African countries in terms of products and volume. Cereals such as rice, corn, and wheat are among the main crops on the continent, also representing a staple in most countries. The leading cereal producers are Ethiopia, Nigeria, Egypt, and South Africa. Together, they recorded a cereal output of almost 100 million metric tons in 2021. Additionally, rice production was concentrated in Nigeria, Egypt, Madagascar, and Tanzania.

The African data center market is experiencing robust growth, driven by the increasing adoption of cloud computing, the expansion of digital services, and substantial investments in digital infrastructure across the continent. The market is segmented by data center size (large, massive, medium, mega, small), tier type (Tier 1 & 2, Tier 3, Tier 4), absorption (utilized, non-utilized), colocation type (hyperscale, retail, wholesale), and end-user industry (BFSI, cloud, e-commerce, government, manufacturing, media & entertainment, IT, others). Key players like Africa Data Centres, Equinix, and Rack Centre are strategically positioning themselves to capitalize on this burgeoning demand. South Africa, Nigeria, and Egypt currently represent the largest markets, but significant growth is anticipated in other regions like Kenya, Ethiopia, and Morocco, fueled by rising internet penetration, government initiatives promoting digital transformation, and the expansion of mobile network infrastructure. The market’s expansion is further supported by the growing need for data sovereignty and the increasing adoption of edge computing to reduce latency and improve service delivery. While challenges remain, such as limited power infrastructure in certain regions and high capital expenditure requirements, the long-term outlook for the African data center market remains exceedingly positive. The forecast period (2025-2033) projects sustained, albeit potentially fluctuating, growth, influenced by economic factors, technological advancements, and regulatory changes across various African nations. The market will likely see an increase in competition as both local and international players vie for market share. The focus on sustainability and energy efficiency in data center operations will become increasingly important, driving innovation in cooling technologies and renewable energy integration. Furthermore, the development of robust regulatory frameworks that support data privacy and security will become crucial to fostering trust and investor confidence in the burgeoning African data center ecosystem. Strategic partnerships and mergers and acquisitions are likely to shape the market landscape during the forecast period, consolidating market power and driving innovation. The demand for hyperscale data centers is expected to be a significant driver of market growth, especially in countries with a large population and growing digital economy. Recent developments include: February 2023: The company has announced plans of opening a new data center in Senegal, the facility would be in close proximity to the cable landing station having 2Africa submarine cable.December 2022: With a USD 160 million data center investment in JOHANNESBURG, Equinix, Inc., a provider of digital infrastructure, wants to expand its presence on the African continent beyond its current locations in NIGERIA, GHANA, and Côte d'Ivoire. In mid-2024, the brand-new data center is anticipated to open in South Africa; JN1, a new 4.0 MW data center, will offer more than 20,000 gross square feet of colocation space and 690+ cabinets. Also, there will be two further phases of development. The fully completed 20.0 MW retail complex will offer more than 100,000 gross square feet of colocation space and 3,450+ cabinets.November 2022: A new hyperscale data center facility with a 30 MW critical power load has begun construction at Teraco's Isando Campus in Ekurhuleni, South Africa, east of Johannesburg. The JB5 plant will use the most up-to-date, ecologically friendly cooling and water management designs, and it is expected to finish by 2024.. Notable trends are: OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT.

The African two-wheeler market, valued at approximately $5 billion in 2025, is experiencing robust growth, projected to expand at a compound annual growth rate (CAGR) exceeding 4% from 2025 to 2033. This surge is driven by several key factors. Increasing urbanization and a burgeoning young population fuel demand for affordable and efficient personal transportation. Improving infrastructure in certain regions, coupled with rising disposable incomes, particularly within the middle class, further enhances market accessibility and purchasing power. The prevalence of motorcycles and scooters as primary modes of commuting, especially in densely populated areas and underdeveloped transportation networks, significantly contributes to market expansion. Furthermore, the growing adoption of financing options and attractive financing schemes offered by manufacturers are making two-wheelers more accessible to a wider segment of the population. However, challenges remain, including inconsistent economic growth across different African nations, fluctuating fuel prices potentially impacting affordability, and the ongoing need for improved road safety infrastructure and regulations. Growth is segmented by propulsion type, with gasoline-powered two-wheelers currently dominating the market. However, the emergence of electric two-wheelers is gaining traction, driven by environmental concerns, government incentives in select countries, and technological advancements resulting in increased battery efficiency and reduced costs. Key players like KTM, Bajaj Auto, Yamaha, Hero MotoCorp, and Honda are strategically focusing on expanding their presence across the continent through localized production, partnerships, and the introduction of models tailored to the specific needs and preferences of African consumers. The diverse market landscape presents opportunities for both established global manufacturers and emerging local brands to capture significant market share. Regional variations in growth are expected, with countries like Nigeria, South Africa, and Egypt leading the market based on their larger populations and higher levels of economic development. This comprehensive report provides an in-depth analysis of the burgeoning Africa two-wheeler market, covering the period from 2019 to 2033. With a base year of 2025 and a forecast period spanning 2025-2033, this study offers crucial insights into market size (in million units), growth drivers, challenges, and future trends. The report leverages data from the historical period (2019-2024) to provide a robust foundation for future projections. Key players like Bajaj Auto Ltd, Yamaha Motor Company Limited, Hero MotoCorp Ltd, and KTM Motorcycles are analyzed, along with emerging trends in motorcycle sales in Africa and the impact of evolving African motorcycle regulations. Recent developments include: September 2023: KTM India launched the two all-new, single-cylinder Duke 390 and 250 motorcycles priced at INR 310,520 and INR 239,000 respectively.July 2023: Harley-Davidson spinoff LiveWire Unveils Its Second Motorcycle – and It Can Hit 103 MPH.July 2023: Hero Motocorp and Harley-Davidson launched their co-developed premium motorcycle – the Harley-Davidson X440 in India from a starting price of INR 229 thousand and going to INR 269 thousand.. Key drivers for this market are: Rapid Urbanization and Demand for Convinient Transportation. Potential restraints include: Traffic Congestion in Major Cities. Notable trends are: OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT.

The number of Twitter users in Africa was forecast to continuously increase between 2024 and 2028 by in total 28.1 million users (+100.75 percent). After the ninth consecutive increasing year, the Twitter user base is estimated to reach 55.96 million users and therefore a new peak in 2028. Notably, the number of Twitter users of was continuously increasing over the past years.User figures, shown here regarding the platform twitter, have been estimated by taking into account company filings or press material, secondary research, app downloads and traffic data. They refer to the average monthly active users over the period.The shown data are an excerpt of Statista's Key Market Indicators (KMI). The KMI are a collection of primary and secondary indicators on the macro-economic, demographic and technological environment in up to 150 countries and regions worldwide. All indicators are sourced from international and national statistical offices, trade associations and the trade press and they are processed to generate comparable data sets (see supplementary notes under details for more information).Find more key insights for the number of Twitter users in countries like Australia & Oceania and North America.

The population share with mobile internet access in Africa was forecast to continuously increase between 2024 and 2029 by in total 21.7 percentage points. After the eighteenth consecutive increasing year, the mobile internet penetration is estimated to reach 46.22 percent and therefore a new peak in 2029. The penetration rate refers to the share of the total population having access to the internet via a mobile broadband connection.The shown data are an excerpt of Statista's Key Market Indicators (KMI). The KMI are a collection of primary and secondary indicators on the macro-economic, demographic and technological environment in up to 150 countries and regions worldwide. All indicators are sourced from international and national statistical offices, trade associations and the trade press and they are processed to generate comparable data sets (see supplementary notes under details for more information).Find more key insights for the population share with mobile internet access in countries like Caribbean and Europe.

The number of Instagram users in Africa was forecast to continuously increase between 2024 and 2028 by in total 39.1 million users (+57.16 percent). After the sixth consecutive increasing year, the Instagram user base is estimated to reach 107.54 million users and therefore a new peak in 2028. User figures, shown here with regards to the platform instagram, have been estimated by taking into account company filings or press material, secondary research, app downloads and traffic data. They refer to the average monthly active users over the period and count multiple accounts by persons only once.The shown data are an excerpt of Statista's Key Market Indicators (KMI). The KMI are a collection of primary and secondary indicators on the macro-economic, demographic and technological environment in up to 150 countries and regions worldwide. All indicators are sourced from international and national statistical offices, trade associations and the trade press and they are processed to generate comparable data sets (see supplementary notes under details for more information).Find more key insights for the number of Instagram users in countries like Europe and Caribbean.

The number of Facebook users in Africa was forecast to continuously increase between 2024 and 2028 by in total 141.6 million users (+56.79 percent). After the ninth consecutive increasing year, the Facebook user base is estimated to reach 390.94 million users and therefore a new peak in 2028. Notably, the number of Facebook users of was continuously increasing over the past years.User figures, shown here regarding the platform facebook, have been estimated by taking into account company filings or press material, secondary research, app downloads and traffic data. They refer to the average monthly active users over the period and count multiple accounts by persons only once.The shown data are an excerpt of Statista's Key Market Indicators (KMI). The KMI are a collection of primary and secondary indicators on the macro-economic, demographic and technological environment in up to 150 countries and regions worldwide. All indicators are sourced from international and national statistical offices, trade associations and the trade press and they are processed to generate comparable data sets (see supplementary notes under details for more information).Find more key insights for the number of Facebook users in countries like Europe and Asia.

The number of WhatsApp users in Africa was forecast to continuously increase between 2024 and 2029 by in total 43.8 million users (+47.79 percent). After the ninth consecutive increasing year, the WhatsApp user base is estimated to reach 135.44 million users and therefore a new peak in 2029. Notably, the number of WhatsApp users of was continuously increasing over the past years.User figures, shown here regarding the platform whatsapp, have been estimated by taking into account company filings or press material, secondary research, app downloads and traffic data. They refer to the average monthly active users over the period.The shown data are an excerpt of Statista's Key Market Indicators (KMI). The KMI are a collection of primary and secondary indicators on the macro-economic, demographic and technological environment in up to 150 countries and regions worldwide. All indicators are sourced from international and national statistical offices, trade associations and the trade press and they are processed to generate comparable data sets (see supplementary notes under details for more information).Find more key insights for the number of WhatsApp users in countries like Asia and the Americas.

South Africa is expected to register the highest unemployment rate in Africa in 2024, with around 30 percent of the country's labor force being unemployed. Djibouti and Eswatini followed, with unemployment reaching roughly 28 percent and 25 percent, respectively. On the other hand, the lowest unemployment rates in Africa were in Niger and Burundi. The continent’s average stood at roughly seven percent in the same year.

Large shares of youth among the unemployed

Due to several educational, socio-demographic, and economic factors, the young population is more likely to face unemployment in most regions of the world. In 2024, the youth unemployment rate in Africa was projected at around 11 percent. The situation was particularly critical in certain countries. In 2022, Djibouti recorded a youth unemployment rate of almost 80 percent, the highest rate on the continent. South Africa followed, with around 52 percent of the young labor force being unemployed.

Wide disparities in female unemployment

Women are another demographic group often facing high unemployment. In Africa, the female unemployment rate stood at roughly eight percent in 2023, compared to 6.6 percent among men. The average female unemployment on the continent was not particularly high. However, there were significant disparities among African countries. Djibouti and South Africa topped the ranking once again in 2022, with female unemployment rates of around 38 percent and 31 percent, respectively. In contrast, Niger, Burundi, and Chad were far below Africa’s average, as only roughly one percent or lower of the women in the labor force were unemployed.

The online banking penetration rate in Africa was forecast to continuously increase between 2024 and 2029 by in total 5.2 percentage points. After the fifteenth consecutive increasing year, the online banking penetration is estimated to reach 13.25 percent and therefore a new peak in 2029. Notably, the online banking penetration rate of was continuously increasing over the past years.Shown is the estimated percentage of the total population in a given region or country, which makes use of online banking.The shown data are an excerpt of Statista's Key Market Indicators (KMI). The KMI are a collection of primary and secondary indicators on the macro-economic, demographic and technological environment in up to 150 countries and regions worldwide. All indicators are sourced from international and national statistical offices, trade associations and the trade press and they are processed to generate comparable data sets (see supplementary notes under details for more information).Find more key insights for the online banking penetration rate in countries like North America and Europe.

The number of Youtube users in Africa was forecast to continuously increase between 2024 and 2029 by in total 0.03 million users (+3.95 percent). The Youtube user base is estimated to amount to 0.79 million users in 2029. User figures, shown here regarding the platform youtube, have been estimated by taking into account company filings or press material, secondary research, app downloads and traffic data. They refer to the average monthly active users over the period.The shown data are an excerpt of Statista's Key Market Indicators (KMI). The KMI are a collection of primary and secondary indicators on the macro-economic, demographic and technological environment in up to 150 countries and regions worldwide. All indicators are sourced from international and national statistical offices, trade associations and the trade press and they are processed to generate comparable data sets (see supplementary notes under details for more information).Find more key insights for the number of Youtube users in countries like Worldwide and the Americas.

The percentage of households with internet access in Africa was forecast to continuously increase between 2024 and 2029 by in total 14.5 percentage points. After the twenty-eighth consecutive increasing year, the internet penetration is estimated to reach 68.81 percent and therefore a new peak in 2029. Notably, the percentage of households with internet access of was continuously increasing over the past years.Depicted is the share of housholds with internet access in the country or region at hand.The shown data are an excerpt of Statista's Key Market Indicators (KMI). The KMI are a collection of primary and secondary indicators on the macro-economic, demographic and technological environment in up to 150 countries and regions worldwide. All indicators are sourced from international and national statistical offices, trade associations and the trade press and they are processed to generate comparable data sets (see supplementary notes under details for more information).Find more key insights for the percentage of households with internet access in countries like Caribbean and Asia.

The number of internet users in Africa was forecast to continuously increase between 2024 and 2029 by in total 327.8 million users (+51.52 percent). After the fifteenth consecutive increasing year, the number of users is estimated to reach 964.1 million users and therefore a new peak in 2029. Notably, the number of internet users of was continuously increasing over the past years.Depicted is the estimated number of individuals in the country or region at hand, that use the internet. As the datasource clarifies, connection quality and usage frequency are distinct aspects, not taken into account here.The shown data are an excerpt of Statista's Key Market Indicators (KMI). The KMI are a collection of primary and secondary indicators on the macro-economic, demographic and technological environment in up to 150 countries and regions worldwide. All indicators are sourced from international and national statistical offices, trade associations and the trade press and they are processed to generate comparable data sets (see supplementary notes under details for more information).Find more key insights for the number of internet users in countries like Europe and the Americas.

Nigeria’s inflation has been higher than the average for African and Sub-Saharan countries for years now, and even exceeded 16 percent in 2017 – and a real, significant decrease is nowhere in sight. The bigger problem is its unsteadiness, however: An inflation rate that is bouncing all over the place, like this one, is usually a sign of a struggling economy, causing prices to fluctuate, and unemployment and poverty to increase. Nigeria’s economy - a so-called “mixed economy”, which means the market economy is at least in part regulated by the state – is not entirely in bad shape, though. More than half of its GDP is generated by the services sector, namely telecommunications and finances, and the country derives a significant share of its state revenues from oil.

Because it got high

To simplify: When the inflation rate rises, so do prices, and consequently banks raise their interest rates as well to cope and maintain their profit margin. Higher interest rates often cause unemployment to rise. In certain scenarios, rising prices can also mean more panicky spending and consumption among end users, causing debt and poverty. The extreme version of this is called hyperinflation: A rapid increase of prices that is out of control and leads to bankruptcies en masse, devaluation of money and subsequently a currency reform, among other things. But does that mean that low inflation is better? Maybe, but only to a certain degree; the ECB, for example, aspires to maintain an inflation rate of about two percent so as to keep the economy stable. As soon as we reach deflation territory, however, things are starting to look grim again. The best course is a stable inflation rate, to avoid uncertainty and rash actions.

Nigeria today

Nigeria is one of the countries with the largest populations worldwide and also the largest economy in Africa, with its economy growing rapidly after a slump in the aforementioned year 2017. It is slated to be one of the countries with the highest economic growth over the next few decades. Demographic key indicators, like infant mortality rate, fertility rate, and the median age of the population, all point towards a bright future. Additionally, the country seems to make big leaps forward in manufacturing and technological developments, and boasts huge natural resources, including natural gas. All in all, Nigeria and its inflation seem to be on the upswing – or on the path to stabilization, as it were.

The number of smartphone users in Africa was forecast to continuously increase between 2024 and 2029 by in total 353.1 million users (+109.45 percent). After the eighteenth consecutive increasing year, the smartphone user base is estimated to reach 675.71 million users and therefore a new peak in 2029. Smartphone users here are limited to internet users of any age using a smartphone. The shown figures have been derived from survey data that has been processed to estimate missing demographics.The shown data are an excerpt of Statista's Key Market Indicators (KMI). The KMI are a collection of primary and secondary indicators on the macro-economic, demographic and technological environment in up to 150 countries and regions worldwide. All indicators are sourced from international and national statistical offices, trade associations and the trade press and they are processed to generate comparable data sets (see supplementary notes under details for more information).Find more key insights for the number of smartphone users in countries like Caribbean and Europe.