The top ten most respected countries in Africa has been listed in this article.
Africa has yet to make any notable economic strides. According to a report by McKinsey, from 2010 to 2019, the overall GDP in Africa fell 35% with almost 60% of its population living in poverty today.
The pandemic and the Russian invasion of Ukraine have impacted the entire world. The already struggling African countries were not immune to this distress. The macroeconomic factors have also contributed to the stunted growth.
The economic situation in Africa presents a dark image at first glance. However, the continent is full of potential and presents multifarious opportunities for growth. Africa has a large human capital and rich natural resources.
According to the World Bank, Africa is the world’s largest free trade area and has a total market of 1.2 billion people. The World Bank has estimated that economic growth in the continent will increase to 3.9% by 2050.
Below is the list of top ten most respected African countries in descending order;
10. The Republic of Côte d’Ivoire
Total GDP in 2022: $70.018 Billion
Exports of Goods and Services in 2022: $17.395 Billion
Côte d’Ivoire is located in West Africa. The country mainly exports gold, petroleum, and cocoa beans. It is one of the most advanced countries in Africa. The country also has a higher income level than other countries in the region.
9. The Republic of Ghana
Total GDP in 2022: $72.838 Billion
Exports of Goods and Services in 2022: $20.049 Billion
Ghana is located in Western Africa. The country exports many products, including crude oil and cocoa beans. The manufacturing sector in the country is also developing rapidly. Ghana manufactures many electronics and electric cars. It is one of the most respected countries in Africa.
8. The Tunisian Republic
Total GDP in 2022: $46.664 Billion
Exports of Goods and Services in 2022: $22.487 Billion
Tunisia is located in Northern Africa. The country has a flourishing export sector. Textile and clothing are Tunisia’s most prominent exports. The phosphate and mining sector significantly add to the overall GDP of the country.
7. Democratic Republic of Congo
Total GDP in 2022: $58.065 Billion
Exports of Goods and Services in 2022: $27.884 Billion
Democratic Republic of Congo is one of the most respected countries in the region. The country has a fast-growing economy. The mining and services sectors of the country contribute significantly to the overall economy.
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6. The Republic of Angola
Total GDP in 2022: $106.713 Billion
Exports of Goods and Services in 2021: $29.843 Billion
Angola is located in central Africa. Angola is one of the largest oil producers in Africa. Crude oil and petroleum gas are the top exports of the country. The country has a promising export market. The exports directly correspond to its relationship with other countries and reflect its reputation.
5. Federal Republic of Nigeria
Total GDP in 2022: $477.386 Billion
Exports of Goods and Services in 2021: $47.338 Billion
Nigeria is located in West Africa. Nigeria exports large quantities of crude oil and petroleum gas. It is one of the most respected countries in Africa. By properly developing the infrastructure, the country could grow significantly.
4. The Kingdom of Morocco
Total GDP in 2022: $134.181 Billion
Exports of Goods and Services in 2022: $58.405 Billion.
Morocco is located in Northern Africa. The country is rich in phosphate minerals. Tourism contributes significantly to the economy of the country. Morocco is one of the most respected countries in Africa. Despite facing repercussions from the Russian invasion of Ukraine, the country has sustained a relatively higher number of exports than other African countries.
3. The People’s Democratic Republic of Algeria
Total GDP in 2022: $191.912 Billion
Exports of Goods and Services in 2022: $60.792 Billion
Algeria is located in North Africa. Petroleum gas and crude oil are the most prominent exports of the country. Expanding these sectors could improve exports further in the future. The large amount of exports shows that it is one of the most respected countries in Africa.
2. Arab Republic of Egypt
Total GDP in 2022: $476.747 Billion
Exports of Goods and Services in 2022: $71.927 Billion
Egypt is one of the biggest economies in Africa. The country manufactures a variety of products, including textiles and automobiles. The country has a large influx of tourists every year, contributing significantly to the economy of the country. Egypt is one of the most respected countries in Africa.
1. The Republic of South Africa
Total GDP in 2022: $405.869 Billion
Exports of Goods and Services in 2022: $135.738 Billion.
According to our analysis, South Africa is the most respected country in Africa. They export a large amount of platinum and gold. The mining sector is the most important sector of the South African economy. The country has massive export potential that would be utilized completely with proper infrastructure development.
