Africa: Ghana fails to make top 10 list of African countries with highest GDP per capita
Ghana, failed to make the list of top ten African countries with the highest Gross Domestic Product (GDP) per capita.
The list put together by Statista saw Seychelles emerged as the African country with the highest GDP per capita.
Seychelles had a per capita income of $9,670. Tunisia was the tenth African country with a per capita income of $3,690.
With a GDP valued at $72bn and a total population of over 31 million, Ghana’s current per capita income stands at $2,322. Hence the country’s inability to make the list.
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.
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.
Read: Maritime expert bemoans ramifications of Russia-Ukraine war
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 every one in the country.
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 are as high as $137,950, $98,770 and $84,120, respectively.
According to Statista – the global markets and consumer data company based in Hamburg, Germany – the top ten African countries with the highest GDP per capita are:
- Seychelles: At $9,670, this island nation currently has the highest GDP per capita in Africa.
- Mauritius: The second position is occupied by yet another island African country —Mauritius. This country has a GDP per capita of $9,640.
- Gabon: This oil-rich country comes in at third position with a GDP per capita of $8,600.
- Equatorial Guinea: This country has a GDP per capita of $8000.
- Botswana: This Southern African country has a GDP per capita of $7,820.
- South Africa: This country is one of Africa’s leading economies. And it has a GDP per capita of $5, 440.
- Namibia: Namibia has a GDP per capita of $4, 370, according to Statista.
- 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.
- Eswatini: Formally known as Swaziland, this Southern African country has a GDP per capita of $3,710.
- Tunisia: Finally, we have Tunisia which has a GDP per capita of $3,680.
