Here are 7 Developed Countries on the African Continent

VIVA – Many people do not know that the African continent is a continent that rich in natural resources. No wonder, some countries on this continent have a fairly large value of gross domestic product.

According to the African Economic Outlook, as quoted from African Exponent, GDP in Africa is projected to grow by 3.4 percent in 2021 after previously in 2020, only reached 2.1 percent. Here are 7 developed countries on the African continent when viewed from high economic growth and safety. 

1. Nigeria

Nigeria is listed as the country with the highest Gross Domestic Product (GDP) in 2021. Nigeria's GDP in 2021 reached US$514 billion. The strengthening of the main source of Nigeria's GDP is observed to come from the oil and gas sector. From the oil and gas sector, Nigeria can increase revenue by 10 percents of the country's total GDP and 80 percents of income from the export sector.

Other sectors that have contributed to the rapid growth of Nigeria's GDP are tourism, transportation, infrastructure, trade and industry. With this GDP value, not only can it be called the most developed country, Nigeria can be considered the richest country on the African continent.

2. South Africa

This country on the African continent is one of countries that familiar to the world, because it hosted the 2010 World Cup.

Before being known as the host of the World Cup, South Africa was also one of the largest gold producers in the world. Other commodities such as chromium, coal, nickel, diamonds also convert a large foreign exchange for this country.

Libya is one of the developed countries in the Africa with the capital city of Tripoli. The source of the Libyan State's wealth comes from the 10th largest Petroleum Reserve of all countries in the world.

In addition, Libya has the 17th highest oil production of any country in the world, so this country has the highest Human Development Index (HDI) in Africa and also has the best GDP/capita on the African continent.

Egypt recorded a GDP of US$394 billion, up slightly from last year's US$361 billion. The increase in GDP of Africa's third most populous country comes from its growing information and communication technology sector. Other sectors that support Egypt's GDP are oil and gas exports, tourism, trade, infrastructure and property.

This country is located in the South West African region with a fairly large land area, even exceeding Kalimantan. Angola's economy is quite advanced because it relies on bauxite, copper, gold and iron ore. Besides the iron ore and gold, there are uranium reserves such as in Indonesia.

According to IMF data, Algeria's GDP in 2021 will reach US$151 billion. This number increased slightly compared to 2020 of US $ 144 billion. However, when compared to the GDP in 2019 which reached US$171 billion, this year's GDP declined quite sharply.

Algeria's GDP relies on oil and gas sources. The oil and gas sector generates almost 60 percent of state revenue.

However, other sectors also have an important role in increasing the country's GDP. Apart from oil and gas, other sectors that have an important role include industry, services, and agricultural construction.

The IMF noted that Morocco's GDP this year reached US$ 124 billion. This GDP figure increased dramatically compared to last year which was only US$ 13 billion. Morocco is an African country that does not depend on the oil and gas sector to improve the country.

Instead of the oil and gas sector, the economy is mostly managed by the mining and manufacturing sectors. Morocco is known as the third largest phosphorus producer in the world. Other sectors that also support the increase in GDP are agriculture, industry, and tourism.