A simple Power BI visualization of Africa GDP(PPP) data from IMF. I made a contrast against the population of each of the top 10 nations.
Which nations are among the top 10 GDP ranking countries in Africa? I have used data from IMF world economic outlook database[1] as regards the Gross Domestic Product (GDP) at Purchasing Power Parity (PPP). Figures are given in international dollars according to the International Monetary Fund and in billions.
Eygpt tops the list for 2019 and 2020 report. While Nigeria stays close clinching the second position. While Egypt witnessed considerable growth in GDP, Nigeria on the other hand is experincing a decline almost nearing the growth rate of Egypt.
Countries witnessing GDP(PPP) decline include Nigeria, South Afrcia, Algeria, Morroco and Angola. Similarly, countries with GDP(PPP) growth include Egypt, Ethopia, Ghana, Tanzania and Kenya. What could be the separating factor?
This hypothesis will slightly provide a clear indication for the boundary between decline and growth in GDP(PPP) as NIgeria, Algeria and South Africa who account for the highest drop in GDP(PPP) had national elections in the year 2019[2]. With the Ghanaian, Ethopian and Tanzanian general election slated for 2020 it will be interesting to see how their GDP statistics turn out in 2021.
Among the nations facing GDP(PPP) decline, Nigeria, South Afrcia, Algeria, and Angola all appear on the top 10 oil producing countries in Africa.
Although, Egypt also shows up in that list, a mix of both political and oil price instability can very much explain the ranking per GDP(PPP).