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Wealth creation: South Africa shuts down the top three in Africa

13/04/2021
Categories: Economy/Forex

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The South African economy is expected to see a value added flow of $329.5 billion this year. Calculations made by the Ecofin Agency, based on economic forecasts from the International Monetary Fund (IMF), revised in early April 2021, rank the country in third place on the continent, in terms of

wealth created.

South Africa's leadership in terms of creating added value on the black continent is contested by Nigeria and Egypt. It is expected to lose its place as Africa's second largest economy in terms of gross domestic product (GDP), according to the Ecofin Agency.
It is in third position behind Egypt, which is expected to achieve a GDP of $394.28 billion over the same period. Nigeria alone is now at the top of the ranking with a projected GDP of $514 billion.
Nigeria is expected to generate a cumulative GDP of $4346.5 billion while Egypt will second it ($2926.7 billion). South Africa remains in third place, with a GDP expected over the period of only $2179 billion

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