Addis Ababa: In a striking revelation, a recent report by Voronoi, based on 2024 data from the International Monetary Fund (IMF), shows that five of Africa’s largest economies-South Africa, Nigeria, Egypt, Algeria, and Ethiopia-collectively contribute an impressive 1.4 trillion USD to the continent’s total GDP.
This figure represents a significant portion of Africa’s overall GDP, which stands at 2.8 trillion USD.
The report by Voronoi website reveals that these five countries alone account for half of Africa’s economic output, while the remaining 48 countries share the other half, underscoring a profound economic divide within the continent.
Here’s a breakdown of the GDP figures for these leading economies: South Africa: 373.23 billion USD, Egypt: 347.59 billion USD, Algeria: 266.78 billion USD, Nigeria: 252.74 billion USD and Ethiopia: 205.13 billion USD.
The stark contrast between these five nations and the rest of Africa highlights the ongoing challenges faced by many countries in achieving economic gr
owth and stability.
While the “Big Five” showcase significant economic potential, the other nations grapple with issues that hinder their development.
It’s important to note that data for Eritrea and Western Sahara were not available in this report, further complicating the picture of Africa’s economic landscape.
As policymakers and economists analyze these figures, the need for strategic investments and initiatives aimed at bridging the economic gap becomes increasingly apparent.
The insights from this report may serve as a catalyst for discussions on fostering equitable growth across the continent.
Source: Ethiopian News Agency