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Wealth creation: South Africa closes the top three in Africa

13/04/2021
Categories: Economy/Forex

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South Africa's economy is expected to see a value-added flow of $329.5 billion this year. The calculations made by the Ecofin Agency on the basis of the economic forecasts of the International Monetary Fund (IMF) revised at the beginning of 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 ecofin.
It is in third place behind Egypt, which is expected to achieve a GDP of $394.28 billion over the same period. Nigeria is now alone at the top of the ranking with a forecast GDP of $514 billion.
Nigeria is expected to generate a cumulative GDP of $4346.5 billion while Egypt will support it ($2926.7 billion). South Africa remains in third place, with GDP expected over the period at just $2179 billion.

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