As of April 2025, South Africa's GDP was estimated at over 410 billion U.S. dollars, the highest in Africa. Egypt followed, with a GDP worth around 347 billion U.S. dollars, and ranked as the second-highest on the continent. Algeria ranked third, with nearly 269 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.

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

In 2025, Ethiopia's GDP was forecast to reach almost 121 billion U.S. dollars, the highest in East Africa. Kenya followed, with an expected GDP of around 117 billion U.S. dollars. Comoros, on the other hand, had some of the lowest GDPs, at just over 1.5 billion U.S. dollars.

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.

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.

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

South Africa's GDP amounted to just over 418 billion U.S. dollars in 2025, the highest in Southern Africa. Zimbabwe ranked second, with a GDP worth around 37 billion U.S. dollars. Lesotho, on the other hand, ranked the lowest with a GDP of over 2.4 billion U.S. dollars.

In 2024, Niger's real GDP is estimated to grow by 10.4 percent compared to the previous year. During 2023, the GDP is estimated to have increased by only 1.4 percent, nevertheless a positive trend. The country's real GDP is forecast to continue growing but at a slower pace. Between 2025 and 2029, it is expected to grow annually by roughly six percent. Furthermore, the GDPs of Senegal, Libya, and Rwanda might increase by around 8.3 percent, 7.8 percent, and 6.9 percent during 2024, respectively. Niger: A dependence on agriculture A large portion of Niger's economy comes from agriculture. In 2022, agriculture accounted for almost 40 percent of the GDP. Niger is not the only country in Africa where agriculture plays a crucial role. For example, agriculture made up nearly 60 percent of Sierra Leone’s GDP in 2022. Such dependence could mean that any disruptions in the agricultural products market could have significant effects on the country's GDP. Sub-Saharan Africa's economy will be among the fastest-growing regions worldwide Three African countries have significantly larger economies, namely, Nigeria, South Africa, and Egypt. As of 2022, these countries' GDP stood at nearly 477.4 billion, 475.2 billion, and 405.7 billion U.S. dollars. Furthermore, it is anticipated that Sub-Saharan Africa's GDP growth in 2026 will rank as the second-fastest growing economic region in the world after the ASEAN-5 countries, with a growth rate of approximately four percent. In contrast, economic areas such as the European Union are forecast to grow at only about 1.5 percent in the same year.

The Gross Domestic Product (GDP) in South Africa was worth 400.26 billion US dollars in 2024, according to official data from the World Bank. The GDP value of South Africa represents 0.38 percent of the world economy. This dataset provides the latest reported value for - South Africa GDP - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

The real gross domestic product (GDP) of Niger is estimated to have grown by **** percent in 2022, which is the highest estimated growth rate across all African countries. In comparison, Libya's economy is estimated to have contracted by *** percent.

This dataset provides values for LEADING ECONOMIC INDEX.ACCEDIDO reported in several countries. The data includes current values, previous releases, historical highs and record lows, release frequency, reported unit and currency.

The Gross Domestic Product (GDP) in South Africa expanded 0.10 percent in the first quarter of 2025 over the previous quarter. This dataset provides - South Africa GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Middle East and Africa Inflight Shopping Market will be USD 13.82 million in 2024 and will expand at a compound annual growth rate (CAGR) of 4.9% from 2024 to 2031.

Since the beginning of the 21st century, the BRICS countries have been considered the five foremost developing economies in the world. Originally, the term BRIC was used by economists when talking about the emerging economies of Brazil, Russia, India, and China, however these countries have held annual summits since 2009, and the group has expanded to include South Africa since 2010. China has the largest GDP of the BRICS country, at 16.86 trillion U.S. dollars in 2021, while the others are all below three trillion. Combined, the BRICS bloc has a GDP over 25.85 trillion U.S. dollars in 2022, which is slightly more than the United States. BRICS economic development China has consistently been the largest economy of this bloc, and its rapid growth has seen it become the second largest economy in the world, behind the U.S.. China's growth has also been much faster than the other BRICS countries; for example, when compared with the second largest BRICS economy, its GDP was less than double the size of Brazil's in 2000, but is almost six times larger than India's in 2021. Since 2000, the country with the second largest GDP has fluctuated between Brazil, Russia, and India, due to a variety of factors, although India has held this position since 2015 (when the other two experienced recession), and it's growth rate is on track to surpass China's in the coming decade. South Africa has consistently had the smallest economy of the BRICS bloc, and it has just the third largest economy in Africa; its inclusion in this group is due to the fact that it is the most advanced and stable major economy in Africa, and it holds strategic importance due to the financial potential of the continent in the coming decades. Future developments It is predicted that China's GDP will overtake that of the U.S. by the end of the 2020s, to become the largest economy in the world, while some also estimate that India will also overtake the U.S. around the middle of the century. Additionally, the BRICS group is more than just an economic or trading bloc, and its New Development Bank was established in 2014 to invest in sustainable infrastructure and renewable energy across the globe. While relations between its members were often strained or of less significance in the 20th century, their current initiatives have given them a much greater international influence. The traditional great powers represented in the Group of Seven (G7) have seen their international power wane in recent decades, while BRICS countries have seen theirs grow, especially on a regional level. Today, the original BRIC countries combine with the Group of Seven (G7), to make up 11 of the world's 12 largest economies, but it is predicted that they will move further up on this list in the coming decades.

Key information about South Africa Total Exports

• South Africa Total Exports expanded 3.5 % YoY in Jan 2025, compared with a decrease of 2.9 % YoY in the previous month
• South Africa Total Exports Growth data is updated monthly, available from Oct 2005 to Jan 2025, with an averaged rate of 8.9 %
• The data reached an all-time high of 210.3 % in Apr 2021 and a record low of -49.9 % in Apr 2020

• In the latest reports, South Africa Total Exports recorded 8.0 USD bn in Jan 2025
• Total Imports recorded 8.8 USD bn in Jan 2025, which registered an increase of 7.6 % year on year
• South Africa Trade Balance recorded a deficit of 877.5 USD mn in Jan 2025

The South African modular construction market is experiencing robust growth, driven by factors such as increasing urbanization, infrastructure development needs, and a demand for faster, more cost-effective building solutions. The market's expansion is fueled by both residential and commercial projects, with a notable contribution from industrial applications. While concrete remains a dominant material, the adoption of sustainable materials like timber and steel is gaining traction, reflecting a growing emphasis on environmentally conscious construction practices. Government initiatives promoting affordable housing and sustainable development further contribute to market expansion. However, challenges remain, including a need for skilled labor, regulatory hurdles, and potential supply chain constraints for certain materials. Despite these obstacles, the market is projected to maintain a healthy Compound Annual Growth Rate (CAGR) exceeding 5%, surpassing the global average due to strong economic activity in key sectors and a focus on infrastructure upgrades. Given the global modular construction market size and CAGR, and considering South Africa's developing economy and infrastructure needs, a reasonable estimation for the South African market size in 2025 could be approximately $150 million. This figure is based on a proportional comparison to other developing economies with similar infrastructure investment levels and market characteristics. Projecting forward using the provided 5% CAGR, we can anticipate steady growth, likely reaching $200 million by 2028 and continuing its upward trajectory throughout the forecast period. This growth will be propelled by ongoing infrastructure projects, a rising middle class increasing housing demand, and a continuing preference for sustainable and efficient construction methods. Further segmentation analysis reveals that residential construction will likely maintain the largest share of the market, followed by commercial and then industrial segments. This comprehensive report provides an in-depth analysis of the burgeoning modular construction market in South Africa, projecting robust growth from ZAR X million in 2025 to ZAR Y million by 2033. The study covers the historical period (2019-2024), base year (2025), and forecast period (2025-2033), offering invaluable insights for investors, industry stakeholders, and government agencies. Keywords like prefabricated buildings South Africa, modular construction trends South Africa, offsite construction South Africa, and prefab homes South Africa are strategically incorporated for enhanced search engine optimization. Key drivers for this market are: 4., Growth in Commercial Activities and Increased Competition4.; Increasing Demand for Affordable Housing Units. Potential restraints include: 4., Lack of Housing Spaces and Mortgage Regulation can Create Challenges. Notable trends are: Government Initiatives Helping the Construction Industry.

The South African facility management (FM) market presents a compelling investment opportunity, exhibiting a steady growth trajectory. The market, currently valued at an estimated ZAR 50 billion in 2025 (this value is an educated estimate based on common market sizes for similar economies and the provided CAGR), is projected to expand at a Compound Annual Growth Rate (CAGR) of 4.62% from 2025 to 2033. This growth is driven by several key factors. Increased urbanization and the burgeoning commercial real estate sector necessitate robust FM services for efficient building operation and maintenance. Furthermore, a growing awareness of sustainability and the increasing demand for integrated FM solutions encompassing both hard (technical) and soft (administrative) services are contributing to market expansion. The rising adoption of smart building technologies also plays a pivotal role, optimizing resource management and enhancing operational efficiency. The market is segmented into in-house and outsourced FM, further categorized by service offerings (single, bundled, integrated) and end-user sectors (commercial, institutional, public/infrastructure, industrial). Outsourced FM, particularly integrated services, is witnessing significant growth as businesses increasingly prioritize cost optimization and specialized expertise. The competitive landscape comprises both international and local players, with key companies including TROX South Africa, Chiefton Facilities Management, SSG Holdings, and Tsebo Facilities Solutions actively vying for market share. However, the market also faces certain restraints. Economic fluctuations and infrastructure development timelines can influence demand. A shortage of skilled FM professionals also poses a challenge, limiting the industry's capacity to meet growing demands. The competitive pressure necessitates continuous innovation and service differentiation to maintain a strong market position. Over the forecast period, the focus on technological advancements, sustainable practices, and specialized service packages will likely shape the market's future landscape, offering substantial growth opportunities for established players and new entrants alike. This comprehensive report provides an in-depth analysis of the South African facility management market, covering the period from 2019 to 2033. With a base year of 2025 and an estimated year of 2025, the report offers valuable insights into market trends, drivers, challenges, and future growth prospects. It examines market size in millions, segmentation, key players, and significant developments, making it an indispensable resource for businesses operating in or planning to enter this dynamic sector. Recent developments include: March 2023 - Red Rocket, a South African independent power producer, has placed a 373MW wind turbine contract with the Danish wind turbine manufacturer Vestas. The business will deliver 64 of its V150-4.5MW wind turbines, 12 of its V163-4.5MW turbines, and five of its V162-6.2MW Enventus turbines. The Brandvalley, Rietkloof, and Wolf wind parks, located in South Africa's Western and Eastern Capes, will host the installation of the turbines., September 2022 - The De Aar 1 solar power plant's operation and maintenance (O&M) has been outsourced to the South African division of the German-based renewable energy company Juwi. The Pixley ka Seme area, in the province of Northern Cape, is where the 85 MWp solar farm is situated. The 400 MW installed portfolio of operationally managed renewable energy projects managed by Juwi South Africa is expanded by the De Aar 1 solar project., April 2022 - Securex South Africa 2022, Africa's prominent security and fire trade exhibition, took place from 31 May to 2 June 2022 at Gallagher Convention Centre in Johannesburg and was co-located with three additional Specialised Exhibitions trade shows, namely A-OSH Expo, Facilities Management Expo and the new Firexpo 2022. The FM vendors across the country gathered and showcased their offerings and capabilities.. Key drivers for this market are: Increasing Infrastructural Developments and Growing Retail Sector, Rising Developments in Public and Private Infrastructure. Potential restraints include: Fragmented Market with Several Local Vendors. Notable trends are: Outsourced FM is Expected to Hold a Significant Market Share.

The Middle-East and Africa (MEA) commercial aircraft market is poised to witness significant growth in the coming years, with a projected CAGR of 16.00% from 2025 to 2033. This growth is primarily driven by increasing air travel demand due to rapidly expanding populations, rising disposable incomes, and tourism development in the region. Moreover, the increasing demand for air cargo and the need for fleet modernization are further contributing to the market's expansion. Airbus, Boeing, and Commercial Aircraft Corporation of China are some of the major players operating in this market. Key market trends include the growing demand for wide-body aircraft for long-haul routes and the increasing adoption of fuel-efficient aircraft to reduce operating costs. Additionally, the rise of low-cost carriers and the expansion of regional connectivity are expected to further drive the market's growth. However, factors such as geopolitical uncertainties, economic fluctuations, and competition from high-speed rail networks may pose potential challenges to the market. Saudi Arabia, the United Arab Emirates, Qatar, and South Africa are expected to be major contributors to the overall MEA commercial aircraft market, with the rest of the Middle East and Africa accounting for a significant portion. The Middle-East and Africa commercial aircraft market is a rapidly growing market, driven by the region's increasing population, economic growth, and tourism. The market is expected to grow from $30.0 billion in 2018 to $55.0 billion by 2025, at a CAGR of 7.5%. The market is dominated by a few key players, including Airbus, Boeing, and Embraer. These companies offer a wide range of commercial aircraft, including narrowbody, widebody, and regional jets. The market is also seeing increasing competition from Chinese and Russian aircraft manufacturers. The Middle-East and Africa commercial aircraft market is concentrated in a few key countries, including Saudi Arabia, the United Arab Emirates, Qatar, and South Africa. These countries have large populations, growing economies, and significant tourism industries. The market is also expected to grow in the rest of the Middle East and Africa region, as economies continue to grow and tourism increases. The key trends in the Middle-East and Africa commercial aircraft market include:

The increasing demand for fuel-efficient aircraft The growing popularity of regional jets The increasing use of commercial aircraft for cargo The development of new aircraft technologies, such as electric and hybrid aircraft

The Middle-East and Africa commercial aircraft market is expected to be driven by several factors in the coming years, including:

The region's growing population The increasing economic growth The rising demand for air travel The development of new aircraft technologies

The challenges and restraints in the Middle-East and Africa commercial aircraft market include:

The high cost of aircraft The need for skilled labor The competition from other modes of transportation The political instability in some regions

The emerging trends in the Middle-East and Africa commercial aircraft market include:

The increasing use of data analytics The development of new aircraft technologies, such as electric and hybrid aircraft The increasing use of commercial aircraft for cargo The development of new aircraft financing models

The key drivers of growth in the Middle-East and Africa commercial aircraft market include:

The increasing demand for air travel The region's growing population The growing economic growth

The leading players in the Middle-East and Africa commercial aircraft market include:

Airbus Boeing Embraer Commercial Aircraft Corporation of China Ltd AT Rostec MITSUBISHI HEAVY INDUSTRIES Ltd

The significant developments in the Middle-East and Africa commercial aircraft sector include:

The launch of new aircraft programs, such as the Airbus A320neo and the Boeing 737 MAX The development of new aircraft technologies, such as electric and hybrid aircraft The increasing use of data analytics The development of new aircraft financing models Notable trends are: The Airline Fleet Expansion Plans is Driving the Market.

According to Cognitive Market Research, the global Digital Remitances market size will be USD XX million in 2025. It will expand at a compound annual growth rate (CAGR) of XX% from 2025 to 2031.

North America held the major market share for more than XX% of the global revenue with a market size of USD XX million in 2025 and will grow at a CAGR of XX% from 2025 to 2031.


Europe accounted for a market share of over XX% of the global revenue with a market size of USD XX million in 2025 and will grow at a CAGR of XX% from 2025 to 2031.


Asia Pacific held a market share of around XX% of the global revenue with a market size of USD XX million in 2025 and will grow at a CAGR of XX% from 2025 to 2031.


Latin America had a market share of more than XX% of the global revenue with a market size of USD XX million in 2025 and will grow at a CAGR of XX% from 2025 to 2031.


Middle East and Africa had a market share of around XX% of the global revenue and was estimated at a market size of USD XX million in 2025 and will grow at a CAGR of XX% from 2025 to 2031.

Market Drivers

The rising immigrant population and global brain drain are fueling the digital remittance market

The accelerating global movement of people—particularly from low- and middle-income nations to more developed economies—is a powerful force driving the digital remittance market. Migration today is not just about labor mobility; it's about financial connectivity. As skilled, semi-skilled, and even unskilled individuals relocate for better economic prospects, they become central agents in a transnational flow of capital—remittances—which are increasingly being digitized.

As of 2023, the international migrant population surpassed 280 million, representing over 3.5% of the world’s population (U.S. Census Bureau). Many of these migrants, including doctors, nurses, engineers, construction workers, and caregivers, contribute significantly to the labor markets in host countries while simultaneously supporting their families back home. This two-way economic impact—bolstering host economies while providing critical income to home countries—is increasingly mediated through digital remittance platforms. These figures underscore the fact that migrant workers are effectively one of the largest sources of foreign income for many nations, often surpassing both foreign aid and direct investment.

A growing share of these migrants are highly educated professionals, part of a broader trend known as "brain drain." Countries across South Asia, West Africa, and Eastern Europe are witnessing an outflow of talent, particularly in sectors like medicine, IT, and academia. While this raises challenges for the home country’s workforce development, it simultaneously boosts remittance flows as these skilled professionals tend to earn higher wages and remit more funds.

For instance,

The United Kingdom and Canada have both seen a surge in foreign-trained nurses and doctors, particularly from Nigeria, India, and the Philippines—countries that, in turn, have experienced an increase in remittance volumes. [ICN Report] 

These remittances play a vital role in supporting families and strengthening local economies, emphasizing the interconnectedness of global migration and economic stability. In Nigeria, authorities are targeting $1 billion in monthly remittance inflows, part of a broader initiative to tap diaspora capital through innovations such as a U.S. dollar-denominated diaspora bond and improved digital transfer frameworks (MSME Africa Online)

Immigration policy shifts in key remittance-sending countries like the U.S., Canada, Germany, and Gulf States have far-reaching effects on remittance volumes. Latin American economies such as Guatemala, Honduras, and El Salvador are particularly vulnerable to U.S. immigration changes. These three countries alone received $35 billion in remittances in 2023, primarily from migrants working in the United States. A recent report notes that U.S. election outcomes could significantly alter remittance flows, as immigration and deportation policies shape who can stay and work legally—and thus, continue to remit money (https://www.worldbank.org/en/news/press-release/2023/12/18/remittance-flows-grow-2023-slower-pace-migration-development-brief).

The rising global migrant workforce—fueled b...

In 2025, Luxembourg was the country with the highest gross domestic product per capita in the world. Of the 20 listed countries, 13 are in Europe and five are in Asia, alongside the U.S. and Australia. There are no African or Latin American countries among the top 20. Correlation with high living standards While GDP is a useful indicator for measuring the size or strength of an economy, GDP per capita is much more reflective of living standards. For example, when compared to life expectancy or indices such as the Human Development Index or the World Happiness Report, there is a strong overlap - 14 of the 20 countries on this list are also ranked among the 20 happiest countries in 2024, and all 20 have "very high" HDIs. Misleading metrics? GDP per capita figures, however, can be misleading, and to paint a fuller picture of a country's living standards then one must look at multiple metrics. GDP per capita figures can be skewed by inequalities in wealth distribution, and in countries such as those in the Middle East, a relatively large share of the population lives in poverty while a smaller number live affluent lifestyles.