Ghana has been named the African continent’s eighth richest country.
The ranking, published on the website worldpopulationreview.com, shows that Ghana’s economy was valued at US$74.26 billion at the end of 2021, placing it ahead of Côte d’Ivoire and Angola, whose economies were valued at US$70.99 billion and US$66.49 billion, respectively.
Ivory Coast and Angola were ranked ninth and tenth richest countries on the continent, respectively, after Ghana.
Nigeria was named the richest country on the African continent, with a GDP of $514 billion.
Meanwhile, with a GDP of US$72 billion and a population of over 31 million people, Ghana’s current per capita income is US$2,322.
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 is distributed to all citizens.
Egypt and South Africa came in second and third, with total GDPs of US$394 billion and US$329 billion, respectively.
Nigeria (US$514.05 billion), Egypt (US$394.28 billion), South Africa (US$329.53 billion), Algeria (US$151.46 billion), Morocco (US$124.00 billion), Kenya (US$106.04 billion), Ethiopia (US$93.97 billion), Ghana (US$74.26 billion), Côte d’Ivoire (US$70.99 billion), and Angola (US$66.49 billion) are the ten richest countries in Africa.
According to Statista’s list, Seychelles is the African country with the highest GDP per capita.