Dividing Africa in Two Economic Halves
The Big Five African economies—South Africa, Egypt, Algeria, Nigeria, and Ethiopia—have a combined GDP of $1.4 trillion. This bloc consists of 569 million people, or 44% of the continent’s population.
| GDP Rank | African Country | GDP (2024, Billions) | Population (2023) |
|---|---|---|---|
| 1 |  South Africa |
$373.23 | 60.4M |
| 2 |  Egypt |
$347.59 | 112.7M |
| 3 |  Algeria |
$266.78 | 45.6M |
| 4 |  Nigeria |
$252.74 | 223.8M |
| 5 |  Ethiopia |
$205.13 | 126.5M |
| N/A |  Big 5 Economies |
$1,445 | 569M |
Note: Figures rounded. Population data sourced from the World Bank.
Meanwhile, the rest of Africa, 48 countries in total, also has a combined GDP of $1.4 trillion.
| GDP Rank | African Country | 2024 GDP (Billions) | 2023 Population |
|---|---|---|---|
| 6 |  Morocco |
$152.38 | 37.5M |
| 7 |  Kenya |
$104.00 | 55.1M |
| 8 |  Angola |
$92.12 | 36.7M |
| 9 |  Côte d’Ivoire |
$86.91 | 28.9M |
| 10 |  Tanzania |
$79.61 | 67.4M |
| 11 |  Ghana |
$75.24 | 34.1M |
| 12 |  DRC |
$73.76 | 102.2M |
| 13 |  Uganda |
$56.31 | 48.6M |
| 14 |  Tunisia |
$54.71 | 12.5M |
| 15 |  Cameroon |
$53.21 | 28.6M |
| 16 |  Libya |
$48.22 | 6.8M |
| 17 |  Senegal |
$35.45 | 17.7M |
| N/A | Rest of Africa |
$1,372 | 886M |
Note: Figures rounded. Population data sourced from World Bank.
Of course, the Big Five differ economically from one another. South Africa’s financial and manufacturing sectors are robust, with its mining industry—focused on platinum group metals, gold, and chromium—contributing 8% to GDP.
Egypt benefits from its strategic control of the Suez Canal, generating significant revenue from this vital trade route. Tourism, driven by Egypt’s rich history and culture, also plays a major role in its economy.
Nigeria and Algeria both depend on the energy sector, though their focus varies. Algeria primarily exports natural gas, while Nigeria is a major crude oil exporter.
In contrast, Ethiopia relies heavily on agriculture, with coffee serving as a key economic and export driver.
