The World Bank has just released its data on global wealth. Measured by GDP, at current prices, the new ranking of the most powerful economies in Africa shows that overall, African countries endowed with natural resources (oil, mines, etc.) are the best positioned.

The World Bank has just released its new 2019 classification of Gross Domestic Products (GDP) at current prices (expressed in dollars) of the countries of the planet, i.e. the quantification of the total value of the annual "wealth production" carried out by the economic agents residing within the territories of the planet.

At the African level, it emerges that the large countries endowed with significant natural resources (oil, minerals, etc.) are among the richest in Africa.

However, if the Top 5 of the richest countries of the continent has not experienced any changes, upheavals are observed in the Top 10.

In addition to the impact of the price of a barrel of oil on the growth of the GDP of certain countries, it is also necessary to underline the effects of the depreciations of certain African currencies vis-à-vis the dollar which have strongly impacted the GDP of many countries of the continent.

As in previous years, it is Nigeria, the continent's second largest oil producer, which retains its place as Africa's leading economic power with a GDP estimated at 448.12 billion dollars. If the African giant of West Africa (and the most populous country in Africa, with more than 200 million inhabitants) manages to maintain its position, despite the crisis it is going through in recent years, the fact remains that its GDP has fallen by 21.17% compared to the peak it experienced in 2014, when it reached 568.50 billion dollars, in the wake of the surge in the price of a barrel of oil.

The Nigerian economy relies heavily on oil revenue, but is beginning to diversify, turning more to agriculture and industry.

Far behind, follow South Africa and Egypt, with a GDP respectively estimated at 351.43 and 303 billion dollars.

While these two countries retain their positions, like Nigeria, South Africa continues to see its economic weight decline. Its GDP was thus offloaded by 65 billion dollars, a drop of 15.62%, compared to the peak that its economic activity experienced in 2011 (416.40 billion dollars.).

During the decade marked by the presidency of the former Head of State Jacob Zuma, the country recorded notable setbacks from the economic point of view because of corruption and the absence of investment, particularly in sectors keys like energy. Currently, the many power cuts are costing points of GDP to the country.

Ditto for Egypt, whose GDP fell by 9%, to 303.1 billion dollars, against a peak recorded in 2016 of around 332.9 billion dollars.

This is also the case for Algeria, whose GDP stood at 169.98 billion dollars in 2019, after reaching a peak of 213.81 billion dollars in 2014, the year of the surge in oil prices. barrel of oil (the barrel had reached the 140 dollar mark).

Since then, in the wake of the fall in the price of a barrel, the country's GDP has continued to plummet, losing 20.5% of its 2014 value.

Morocco is the only country in the Top 5 of the continent's economic powers to have seen its GDP grow continuously, reaching its peak in 2019, at 118.72 billion dollars.

These results, the Kingdom owes them to the dynamics of its economy, which has become more diversified in recent years with in particular the automobile, aeronautics and offshoring, etc.

In addition, Morocco is the only one of the five most economically powerful countries in Africa to have a relatively solid currency, thanks to an anchor on strong currencies such as the euro and the dollar, while the other countries have "devalued or seen their currency depreciate sharply in recent years. Clearly, it is the only country in this Top 5 that continues to create value.

Apart from this continental Top 5, there was a notable upheaval for the future. Indeed, from now on, it is Ethiopia which occupies the 6th rank of the most developed countries in Africa with a GDP which stands at 96.11 billion dollars.

The country has been by far the most dynamic on the African continent over the past decade, with an average annual GDP growth rate of more than 10%.

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Ethiopia has thus seen its GDP increase from 31.95 billion dollars in 2011 to 96.16 billion dollars, thus multiplying its wealth by more than 3 times in the space of a decade.

Ethiopia is closely followed by its Kenyan neighbour. In the space of a decade, Kenya has seen its GDP increase from 40 billion dollars in 2010 to 95.5 billion in 2019, an increase of 138.75%.

These two East African countries have economies that are not based on the exploitation of raw materials, but on agriculture, and are therefore countries less dependent on the erratic evolution of oil and raw material prices. .

This is the opposite case for Angola, Africa's leading oil producer and which was in the Top 5 of the continent's economic powers just two years ago, which now finds itself in 8th place on the continent with a GDP valued at $94.63 billion.

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In 2014, Angola occupied the 5th rank of the economic powers of the continent with a GDP reaching a peak of 145.71 billion dollars, that is to say that the country's GDP was offloaded by more than 51.08 billion dollars. dollars.

Finally, the Top 10 of African economic powers is completed by Ghana and Tanzania, with respective GDPs of 66.98 and 63.18 billion dollars in 2019. These two countries saw their GDP grow by 108.01% respectively. and 97.50%.

In terms of prospects, the GDPs of almost all major countries will experience significant declines during this year 2020, due to the coronavirus pandemic and its impacts on African economies, particularly those that are highly dependent on oil. and commodities including Nigeria, Algeria, Angola and South Africa, all of which will be in recession this year.

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Recessions combined with strong depreciations of local currencies, in particular for the Nigerian naira or the Algerian dinar, which will have a strong impact on the GDPs of the major economic powers of the continent, without this ranking being able to experience any upheavals at the end of this year 2020 .

Indeed, Sudan, which ranked 6th among the most powerful economies in Africa in 2017, with a GDP estimated at 117.4 billion dollars, was ejected from this Top 10. This means that nothing is still acquired.

Finally, note that at the global level, it is the United States which is by far the first economic power in the world, with a GDP estimated at 21,427.70 billion dollars, placing itself just ahead of China (14,342 billion dollars). , Japan ($5,081.8 billion), Germany ($3,845.63 billion) and India ($2,875.14 billion).