GDP of Africa

Source	International Monetary Fund World Economic Outlook (October-2021)
	UN
Date	03 Nov 2021

The African economy, comprising 54 economies, in 2021 is projected around US$2.7 trillion in nominal terms, $296 billion more than 2020, calculated by taking figures from the IMF. This is $246bn less than France’s GDP, the 7th largest economy in the world. Africa accounts for 2.84% of the world GDP in nominal terms. Africa is the 2nd smallest continental economy in the world after Oceania. In ppp methods, It is 3rd smallest continental economy after Oceania and South America, accounting and 4.97% of global wealth.

The Northern Africa region has the highest economy ($792 bn) on the continent, closely followed by Western Africa ($777 bn). These two regions together share about 58% of the African economy. 16.79% of the African gdp distributed in Southern Africa, 16.44% in Eastern Africa, and 8.04% in Middle Africa.

As per the UN, Africa’s share of the world economy was maximum (4.93%) in 1980 and was minimum (1.88%) in 1995. In constant 2015 prices, which gives a better idea about expansion over the years, the African economy has expanded from $506 bn in 1970 to $2.6 tn in 2019 or 5x.

The Highest increment in African wealth was seen in 2012 when it has grown by $157 bn approx at constant 2015 prices, while the highest reduction of $13 bn was in 2011. The figure moved in the downward direction in four years. At current prices, the maximum increment was in the year 2010 of $283 bn, while the biggest decline was in 2015 ($243 bn). The figure moved in the downward direction in thirteen years.

Grouping of continents and subregions are as per United Nations Statistics Division.GDP of AfricaBillions of $1,000-1,000-50005001,0001,5002,0002,5003,0003,500L197019781986199420022010201819791988199720062015YearCurrentConstant (2015)

• GDP
• Share (%)

African subregions by GDP (1970-2019)GDP200-400-20002004006008001,000L197019902010YearEastern AfricaSouthern AfricaNorthern AfricaWestern AfricaMiddle AfricaAfrican subregions by GDP share (1970-2019)Share (%)100-20-1001020304050607080120100-40L197019942018YearEastern AfricaSouthern AfricaNorthern AfricaWestern AfricaMiddle Africa

African subregions by gdp (IMF)

Subregion	GDP (Nominal) (billions of $)			Share (%)		GDP (PPP) (billions of Int. $)			Share (%)
	2020	2021	Net change	Africa	World	2020	2021	Net change	Africa	World

Northern Africa	718.272	792.127	73.855	29.42	0.83	2,404.996	2,625.613	220.617	36.53	1.82
Western Africa	695.903	776.544	80.641	28.84	0.82	1,744.847	1,872.381	127.534	26.05	1.29
Southern Africa	367.098	452.128	85.030	16.79	0.48	868.118	944.540	76.422	13.14	0.65
Eastern Africa	419.041	442.790	23.749	16.44	0.47	1,112.283	1,194.220	81.937	16.62	0.83
Middle Africa	186.389	216.480	30.091	8.04	0.23	497.601	523.636	26.035	7.29	0.36

Africa

2,396.739

2,692.597

295.858

2.84

6,653.013

7,187.546

534.533

4.97

Subregion

	Northern Africa
Western Africa
Southern Africa
Eastern Africa
Middle Africa

Africa

African subregions by gdp (UN)

Subregion	GDP (billions of $)			Share (%) in Africa			Share (%) in World
	1970	2000	2019	1970	2000	2019	1970	2000	2019

Western Africa	41.35	118.86	723.52	35.51	18.14	29.40	1.21	0.35	0.83
Northern Africa	24.74	262.29	714.51	21.25	40.03	29.04	0.72	0.78	0.82
Eastern Africa	19.51	79.69	407.97	16.76	12.16	16.58	0.57	0.24	0.47
Southern Africa	19.56	150.62	389.19	16.80	22.99	15.82	0.57	0.45	0.45
Middle Africa	11.28	43.75	225.41	9.69	6.68	9.16	0.33	0.13	0.26

Africa

116

655

2,461

3.41

1.95

2.81

Subregion

	Western Africa
Northern Africa
Eastern Africa
Southern Africa
Middle Africa

Africa

Estimates by UN

Year	GDP (billions of $)		Share (%)
	Current	Constant (2015)

2019	2,460.600	2,591.410	2.81
2018	2,368.470	2,515.100	2.75
2017	2,244.980	2,434.620	2.77
2016	2,163.420	2,355.720	2.84
2015	2,314.900	2,314.900	3.09
2014	2,558.090	2,251.450	3.22
2013	2,452.630	2,181.590	3.17
2012	2,391.680	2,156.060	3.18
2011	2,201.500	1,999.530	2.99
2010	1,969.810	2,012.570	2.97
2009	1,686.630	1,904.390	2.79
2008	1,795.360	1,834.510	2.81
2007	1,523.680	1,728.650	2.62
2006	1,308.610	1,628.400	2.54
2005	1,128.070	1,537.490	2.37
2004	953.930	1,447.700	2.17
2003	784.850	1,367.300	2.01
2002	660.590	1,298.320	1.90
2001	642.430	1,231.610	1.92
2000	655.210	1,182.480	1.95
1999	638.480	1,140.960	1.95
1998	629.340	1,110.490	2.00
1997	637.220	1,080.300	2.01
1996	616.090	1,044.260	1.94
1995	586.930	993.690	1.88
1994	542.300	968.370	1.93
1993	566.870	950.360	2.16
1992	574.150	959.660	2.22
1991	556.470	954.650	2.30
1990	554.680	933.040	2.41
1989	496.790	902.500	2.40
1988	494.090	873.910	2.50
1987	463.330	834.250	2.62
1986	484.490	826.340	3.10
1985	551.330	822.330	4.06
1984	559.260	793.280	4.23
1983	574.000	773.390	4.47
1982	568.130	776.770	4.53
1981	579.050	768.490	4.59
1980	610.570	773.420	4.93
1979	482.070	749.020	4.35
1978	411.900	725.430	4.28
1977	359.640	712.740	4.43
1976	311.870	681.290	4.32
1975	278.350	637.160	4.17
1974	242.800	623.530	4.07
1973	179.570	578.320	3.41
1972	148.150	555.370	3.42
1971	129.430	527.980	3.44
1970	116.430	505.890	3.41