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A recently released report from the International Monetary Fund (IMF) has shed light on the largest economies in Africa as of 2024. The data provides an intriguing snapshot of the economic landscape across the continent.
According to the IMF’s findings, South Africa maintains its position as Africa’s largest economy, with a Gross Domestic Product (GDP) of $373.2 billion. This places the country 40th in the global rankings. Egypt follows closely behind, recording a GDP of $347.5 billion, securing the 42nd spot worldwide.
Read More: Decoding World Bank, IMF, Loan Dynamics With African Nations
Rounding out the top five African economies are Algeria ($266.7 billion, 50th globally), Nigeria ($252.7 billion, 53rd globally), and Ethiopia ($205.1 billion, 57th globally). These nations have all seen steady economic growth in recent years, reflecting the dynamism and potential of the African continent.
The report also highlights several other significant players, including Morocco ($152.3 billion, 60th globally), Kenya ($104.0 billion, 68th globally), and Côte d’Ivoire ($86.9 billion, 76th globally). These economies have been making strides, challenging the traditional economic powerhouses on the African stage.
The data provides valuable insights for policymakers, businesses, and investors looking to capitalize on the emerging opportunities across the region. As Africa continues to evolve, understanding the relative economic heft of its nations will be crucial in shaping strategic decisions and fostering sustainable growth.
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