List of African countries by GDP growth

Economic growth in the early 2020s

According to 2024 estimates by the African Development Bank Group, African countries are projected to account for more than half of the world fastest growing economies; in particular, Niger, Senegal, Libya and Rwanda are expected to grow at the fastest rate of over 7% per year.[1]

Estimates of Real Gross Domestic Product (GDP) growth rate in 2023 show that most African countries were at the 5% growth mark.[2] At that time, Libya was leading the continent at 17.5%, with Senegal following at 8.3%. DRC, Côte d'Ivoire and Rwanda also made the top five performing countries. At the bottom of the list, South Africa had a growth rate of 0.1% while Equatorial Guinea's economy had receded with a rate of -1.8%.

World Bank estimates for 2022 presented a different picture, with Niger leading economic growth at 11.5%, South Sudan receding at a rate of -10.8% and the continent as a whole seeing an average of 4.2% growth.[3]

2023 growth figures

This is a list of estimates of the real gross domestic product growth rate (not rebased GDP) in African states for 2023 recorded in the CIA World Factbook. Only fully recognised sovereign states with United Nations membership are included on this list.

List

Real GDP Growth Rates in Africa (2023)[4]
Rank Country GDP growth
rate (%)
Year
1 Libya 10.2 2023 est.
2 Democratic Republic of the Congo 8.6 2023 est.
3 Rwanda 8.2 2023 est.
4 Mauritius 7.0 2023 est.
5 Guinea 6.7 2023 est.
Djibouti 6.7 2023 est.
7 Mauritania 6.5 2023 est.
Ethiopia 6.5 2023 est.
9 Togo 6.4 2023 est.
Benin 6.4 2023 est.
11 Côte d'Ivoire 6.2 2023 est.
12 Sierra Leone 5.7 2023 est.
13 Kenya 5.6 2023 est.
14 Cabo Verde 5.5 2023 est.
15 Mozambique 5.4 2023 est.
Zambia 5.4 2023 est.
17 Uganda 5.3 2023 est.
Zimbabwe 6.6 2023 est.
19 Guinea-Bissau 5.2 2023 est.
20 Tanzania 5.1 2023 est.
21 Eswatini 5.0 2023 est.
Eritrea 5.0 2017 est.
23 The Gambia 4.8 2023 est.
24 Liberia 4.7 2023 est.
Mali 4.7 2023 est.
26 Senegal 4.6 2023 est.
27 Somalia 4.2 2023 est.
Namibia 4.2 2023 est.
29 Chad 4.1 2023 est.
Algeria 4.1 2023 est.
31 Madagascar 3.8 2023 est.
Egypt 3.8 2023 est.
33 Morocco 3.4 2023 est.
34 Cameroon 3.3 2023 est.
35 Seychelles 3.2 2023 est.
36 Comoros 3.0 2023 est.
Burkina Faso 3.0 2023 est.
38 Ghana 2.9 2023 est.
Nigeria 2.9 2023 est.
40 Botswana 2.7 2023 est.
Burundi 2.7 2023 est.
42 Niger 2.5 2023 est.
Gabon 2.5 2023 est.
44 Republic of the Congo 1.9 2023 est.
Malawi 1.9 2023 est.
46 Lesotho 1.8 2023 est.
47 Angola 1.0 2023 est.
48 Central African Republic 0.9 2023 est.
49 South Africa 0.7 2023 est.
50 São Tomé and Príncipe 0.4 2023 est.
51 Tunisia 2023 est.
52 Equatorial Guinea 5.1 2023 est.
53 South Sudan 5.2 2017 est.
54 Sudan 20.1 2023 est.

See also

References

  1. ^ "Africa dominates list of the world's 20 fastest-growing economies in 2024 - African Development Bank says in macroeconomic report". African Development Bank Group. Retrieved 2024-05-06.
  2. ^ "Real Gross Domestic Product (GDP) growth rate in African countries in 2023". Statista.com. Retrieved 2024-05-06.
  3. ^ "GDP growth (annual %) - Sub-Saharan Africa". World Bank. Retrieved 2024-05-06.
  4. ^ "The World Factbook: Field Listing - Real GDP growth rate". cia.gov. Archived from the original on 4 March 2025. Retrieved 14 March 2025.