10 African countries with the highest GDP per capita, according to latest data

• Some African countries with the highest GDP (including Nigeria, Ghana and Kenya) failed to make it to the list of top 10 countries with the highest GDP per capita.
• GDP per capita is seen as more important than GDP itself, as it reflects how much of a country’s overall wealth actually trickles down to the citizens.
• The available statistics used in this article is dated December 2021 and was sourced from Statista.

According to Investopedia, GDP per capita is an important economic metric used globally by economists to gauge/analyse a country’s prosperity based on its economic growth. It specifically measures how much of a country’s overall economic production value can be attributed to each of its citizens.

Business Insider Africa understands that GDP per capita is calculated by dividing a country’s gross domestic product (GDP) by the total number of people that make up the country’s population.

Some economists and development experts argue that GDP per capita is more important than GDP itself because it reflects how much of a country’s overall wealth actually trickles down to everyone in the country.

GDP per capita is also “an important indicator of economic performance and a useful unit to make cross-country comparisons of average living standards and economic wellbeing,” according to Focus Economics.

That said, this article shall be focusing on the 10 African countries with the highest GDP per capita. Interestingly, Nigeria, which has the highest GDP in Africa as of December 31st, 2021, is not among the top ten countries herein highlighted.

Before we proceed, it’s important to note that African countries typically have some of the lowest GDP per capita in the world, compared to countries like Luxembourg, Switzerland, and Norway where GDP per capita is as high as $137,950, $98,770, and $84,120, respectively.

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The available statistics for Africa’s GDP per capita is dated December 2021 and is courtesy of Statista, the global markets and consumer data company based in Hamburg, Germany.

10 African countries with the highest GDP per capita

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1. Seychelles: At $9,670, this island nation currently has the highest GDP per capita in Africa.
2. Mauritius: The second position is occupied by yet another island African country —Mauritius. This country has a GDP per capita of $9,640.
3. Gabon: This oil-rich country comes in at third position with a GDP per capita of $8,600.
4. Equatorial Guinea: This country has a GDP per capita of $8000.
5. Botswana: This Southern African country has a GDP per capita of $7,820.
6. South Africa: This country is one of Africa’s leading economies. And it has a GDP per capita of $5, 440.
7. Namibia: Namibia has a GDP per capita of $4, 370, according to Statista.
8. Egypt: This is one of only two North African country that made it to the top 10 list, and it has a GDP per capita of $3,830.
9. Eswatini: Formally known as Swaziland, this Southern African country has a GDP per capita of $3,710.
10. Tunisia: Finally, we have Tunisia which has a GDP per capita of $3,680.

Source: Business Insider

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