African Nations 2024 Real GDP in Current Prices (U$ Bil)

Africa’s economic landscape in 2024 has seen both strong performances and unexpected shifts when comparing projected and actual GDP figures. Nigeria and South Africa continue to dominate as the continent’s largest economies, with real GDP figures of US $199.72B and US $403.05B, respectively. However, Nigeria's actual GDP fell significantly below its US $395B forecast, reflecting economic challenges. Meanwhile, South Africa slightly surpassed projections, cementing its position as the continent’s largest economy.

Some countries exceeded expectations, highlighting economic resilience and growth. Egypt, initially forecasted at US $358B, surpassed expectations with a US $380.04B GDP, reinforcing its role as North Africa’s economic powerhouse. Algeria, originally projected at US $239B, also performed better, reaching US $260.13B. Kenya, Ethiopia, and Angola also all showed higher-than-expected GDP figures, with Kenya at US $116.32B (versus a US $115B forecast), Ethiopia at US $145.03B (versus US $192B projected), and Angola at US $113.29B (beating its US $93B estimate). However, some nations fell short, including Morocco, which ended with US $157.09B, missing its US $157.8B forecast by a thin margin.

Overall, while Africa’s major economies continue their upward trajectory, the discrepancies between projections and actual figures highlight the complex and dynamic nature of the continent’s economic growth. These variations signal the need for closer monitoring of key economic factors, including inflation, investment trends, and external market influences.