8 years ago
Monday, April 8, 2013
Richest Countries in Africa According to their GDP
For those who don't know, Gross domestic product (GDP) is the “Total market value of the goods and services produced by a nation’s economy during a specific period of time.
GDP is customarily reported on an annual basis (yearly). It is defined to include all final goods and services – that is, those that are produced by the economic resources located in that nation regardless of their ownership and are not resold in any form.
While 'Per Capita' is commonly and usually used in the field of statistics in place of saying “for each person” or “per person”.
Now to the list:
1. Equatorial Guinea – GDP per capita: $30,200
2. Botswana – GDP per capita: $15,800
3. Gabon – GDP per capita: $14,900
4. Libya – GDP per capita: $14,900
5. Mauritius – GDP per capita: $12,400
6. South Africa – GDP per capita: $10,400
7. Angola – GDP per capita: $9,100
8. Tunisia – GDP per capita: $8,000
9. Algeria – GDP per capita: $7,100
10. Egypt – GDP per capita: $5,500
For those wondering where Nigeria is on the list or why she is not on the top 10.... Well that's because according to Wikipedia her GDP is $2500. After some people would say she is the 'GIANT OF AFRICA'
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Before you confuse people with half truth. Look at the GDP per capital of the world according to world bank 2011;
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2. Qatar $88,314
3. Macau $77,079
4. Singapore $60,688
5. Norway $60, 405
6. Kuwait $54,283
7. Switzerland $ 51, 262
8. Brunei $ 51,760
9. Hong Kong $ 50, 551
10. USA $48,112
How come the world superpower with the largest economy is a distant 10th, how come China is 94th. you ask yourself why all this hyper about China and not Luxembourg? GDP per capital is a measure of the total size of goods and service divided by your population, That is why china, Indonesia , Brazil and Nigeria will share the same fate. #Stop bad mouthing Nigeria