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.

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.

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

In 2022, the Gross Domestic Product (GDP) per capita in Africa reached 2,150.6 U.S. dollars, the highest value since 2015. In 2014, the value per capita was higher, at 2,316 U.S. dollars. The GDP per capita on the continent was set to follow an upward trend in the coming years to reach nearly 2,700 U.S. dollars by 2026.

Historical chart and dataset showing Sub-Saharan Africa GDP by year from 1960 to 2023.

Graph and download economic data for Real Gross Domestic Product for South Africa (ZAFNGDPRPCPPPT) from 2000 to 2026 about South Africa, REO, real, GDP, and rate.

Key information about South Africa Real GDP Growth

• The Gross Domestic Product (GDP) in South Africa expanded 1.3 % YoY in Dec 2022, following a growth of 4.0 % in the previous quarter.
• Real GDP Growth YoY data in South Africa is updated quarterly, available from Mar 1961 to Dec 2022, with an average rate of 3.0 %.
• The data reached an all-time high of 19.4 % in Jun 2021 and a record low of -17.0 % in Jun 2020.

• In the latest reports, Nominal GDP of South Africa reached 98.8 USD bn in Sep 2022.
• Its GDP deflator (implicit price deflator) increased 4.7 % in Sep 2022.
• GDP Per Capita in South Africa reached 6,966.1 USD in Dec 2021.
• Its Gross Savings Rate was measured at 15.6 % in Sep 2022.
• For Nominal GDP contributions, Investment accounted for 14.8 % in Dec 2022.
• Public Consumption accounted for 19.9 % in Dec 2022.
• Private Consumption accounted for 66.6 % in Dec 2022.

Graph and download economic data for Real Gross Domestic Product for South Africa (NGDPRSAXDCZAQ) from Q1 1993 to Q4 2024 about South Africa, real, and GDP.

As of 2022, the real GDP growth rate in Africa was estimated at 3.7 percent, decreasing compared to the previous year when it stood at 4.8 percent. Africa's real GDP is projected to keep a stable and constant growth trend between 2023 and 2027.

Negative impact of COVID-19

Starting in 2020, the spread of the coronavirus (COVID-19) caused economic stagnation and recession in most world regions. Economies on the African continent were also negatively affected, as the health crisis determined disruptions across all economic sectors. In 2020, Africa’s real GDP dropped to minus 1.8 percent, an exceptional negative growth rate registered on the continent. Southern Africa was the most affected region, followed by Central and Western Africa, respectively.

Forecast economic growth in Africa

In 2021 and 2022, Africa’s economy showed signs of recovery after the COVID-19 crisis. Growth was expected to continue in the following years, with the total GDP increasing from around three trillion U.S. dollars in 2020 to four trillion U.S. dollars in 2027. The African economy was set to grow at a rapid pace, especially compared to other world regions. By 2027, Sub-Saharan Africa’s GDP is estimated to record a growth rate of over four percent, while the European Union’s economy would expand by less than two percent.

Graph and download economic data for Constant GDP per capita for Developing Countries in Sub-Saharan Africa (NYGDPPCAPKDSSA) from 1960 to 2024 about Sub-Saharan Africa, per capita, and GDP.

The average for 2023 based on 47 countries was 34.07 percent. The highest value was in Djibouti: 169.11 percent and the lowest value was in Sudan: 1.11 percent. The indicator is available from 1960 to 2023. Below is a chart for all countries where data are available.

The average for 2023 based on 14 countries was 19.06 percent. The highest value was in Algeria: 41.23 percent and the lowest value was in the Seychelles: 3.16 percent. The indicator is available from 1960 to 2023. Below is a chart for all countries where data are available.

Graph and download economic data for Gross Domestic Product Per Capita for Developing Countries in Sub-Saharan Africa (NYGDPPCAPCDSSA) from 1960 to 2024 about Sub-Saharan Africa, per capita, and GDP.

South Africa ZA: GDP: % of GDP: Gross Value Added: Industry: Manufacturing data was reported at 11.858 % in 2017. This records a decrease from the previous number of 12.040 % for 2016. South Africa ZA: GDP: % of GDP: Gross Value Added: Industry: Manufacturing data is updated yearly, averaging 19.947 % from Dec 1960 (Median) to 2017, with 58 observations. The data reached an all-time high of 22.607 % in 1981 and a record low of 11.601 % in 2013. South Africa ZA: GDP: % of GDP: Gross Value Added: Industry: Manufacturing data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s South Africa – Table ZA.World Bank: Gross Domestic Product: Share of GDP. Manufacturing refers to industries belonging to ISIC divisions 15-37. Value added is the net output of a sector after adding up all outputs and subtracting intermediate inputs. It is calculated without making deductions for depreciation of fabricated assets or depletion and degradation of natural resources. The origin of value added is determined by the International Standard Industrial Classification (ISIC), revision 3. Note: For VAB countries, gross value added at factor cost is used as the denominator.; ; World Bank national accounts data, and OECD National Accounts data files.; Weighted Average; Note: Data for OECD countries are based on ISIC, revision 4.

Historical dataset showing Africa GDP per capita by year from N/A to N/A.

Historical chart and dataset showing South Africa GDP by year from 1960 to 2023.

South Africa gdp growth rate for 2023 was 0.70%, a 1.21% decline from 2022.

<ul style='margin-top:20px;'>

<li>South Africa gdp growth rate for 2022 was <strong>1.91%</strong>, a <strong>3.04% decline</strong> from 2021.</li>
<li>South Africa gdp growth rate for 2021 was <strong>4.96%</strong>, a <strong>11.12% increase</strong> from 2020.</li>
<li>South Africa gdp growth rate for 2020 was <strong>-6.17%</strong>, a <strong>6.43% decline</strong> from 2019.</li>
</ul>Annual percentage growth rate of GDP at market prices based on constant local currency. Aggregates are based on constant 2010 U.S. dollars. GDP is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources.

Historical chart and dataset showing Sub-Saharan Africa GDP per capita by year from 1960 to 2023.

The average for 2021 based on 51 countries was 5.65 percent. The highest value was in Liberia: 16.62 percent and the lowest value was in Benin: 2.58 percent. The indicator is available from 2000 to 2022. Below is a chart for all countries where data are available.