Reversing its four-year

Africa GDP ranking

Kenya has climbed up the wealth rankings to become Africa’s ninth-largest economy following a review of national output figures that also saw the country join the world’s league of middle-income nations.

But the latest update of national accounts, technically known as rebasing, has put the GDP figure for 2013 at Sh4.75 trillion ($53.2 billion), some 25 per cent higher than the earlier estimate of Sh3.8 trillion.

This has helped Kenya go up four places on comparative GDP tables to overtake countries such as Ethiopia, Tunisia and Ghana and claim position nine from the previous rank of 12th in Africa. The country also jumped about ten spots globally from position 87, overtaking nations such as Guatemala, Bulgaria, Costa Rica and Lebanon.

Nigeria, which also rebased its GDP in April, overtook South Africa to be the continent’s largest economy, while Egypt is placed third. Algeria is ranked fourth followed by oil-rich Angola, Morocco, Libya and Sudan.

The new rankings, incorporating Kenya’s revised figures, place Tanzania’s economy at position 13 in size, Uganda (18th), Rwanda (34th) and Burundi as having the region’s tiniest GDP ranked at number 43 in Africa.

Source: www.businessdailyafrica.com
RELATED VIDEO
Inflation, Interest Rates and GDP Part 1
Inflation, Interest Rates and GDP Part 1
Inflation, Interest Rates and GDP Part 2
Inflation, Interest Rates and GDP Part 2
Compound Annual Growth Rate Calculator | Investopedia
Compound Annual Growth Rate Calculator | Investopedia
RELATED FACTS
Share this Post

Related posts

Africa GDP by country

Africa GDP by country

OCTOBER 29, 2020

As much as Africa has developed at a higher pace in the recent past, it still holds some of the poorest countries in the…

Read More
Forum for Agricultural Research in Africa

Forum for Agricultural Research in Africa

OCTOBER 29, 2020

The Forum for Agricultural research in Africa (FARA) is an apex organization bringing together and forming coalitions of…

Read More