high income countries in africa
Non-communicable diseases (NCDs) are the second common cause of death in sub-Saharan Africa (SSA) accounting for about 35% of all deaths, after a composite of communicable, maternal, neonatal, and nutritional diseases. Well, wonder no more. Finally, low-income countries have GNI per capita of $1,025 per less. Again, it is important to note that income inequality is not taken into consideration when the per capita GDP is reported. The country is relatively small, covering only around 10,830 square miles. Highest Maternal Mortality Rates. Business Insider Sub-Saharan Africa by Pulse looks at 10 African countries with the highest annual personal income tax rates: 10 African countries with the highest personal income tax Algeria. There are currently 81 countries worldwide classified as high-income and only two are in Africa. Botswana is also home to a highly sophisticated banking system. The country is known for its reputation as a stable democracy. United States. All figures are from the 2017 International Monetary Fund data. Mauritius is the third richest country in Africa with a GDP per capita of $21,628. However, among the 30 that are low income, 18 can be found on the African continent. Tourism is one of the biggest contributors to the country's GDP. Much of Tunisia's economy is dependent on industries such as oil, tourism, and automobile parts. Updated country income classifications are available here. The United States, with its 326.7 million people, tops the list with a disposable … However, some of these countries have the fastest-growing economies. Sierra Leone. Fishing and the processing of natural resources such as coconut also play an important role. South Africa: 2.8 29.7 74.2: 2017 est. Before tourists began to visit the country, plantations used to drive the economy of Seychelles. The groups are: low income, $1,035 or less; lower middle income, $1,036 - 4,045; upper middle income, $4,046 - 12,535; and high income, $12,536 or more. Algeria, the largest country in Africa by land area, is located in the northern part of … The WB categorise economies across the world according to a four-tier ranking: high, upper-middle, lower-middle and low income. Cameroon. Gabon. Low-Income Countries COVID-19 Pandemic in Developing Countries This conference is planned to open avenues of communication between the IMF and stakeholders in developing economies to better understand the impact of the crisis and also between low income countries and middle income emerging markets given that these country groups are facing increasingly similar challenges. Seychelles is also an island country in the Indian Ocean. The infiltration of terrorist groups and internal rebellions also serve to damage the country’s economic stability. A Central African country, Gabon is located on the West African coast and is bordered by Equatorial Guinea, Cameroon, and the Republic of the Congo. Namibia can be found in Southern Africa. The economy of Egypt depends on agriculture, tourism, natural gas, and petroleum, as well as revenues from the Suez Canal. This page displays a table with actual values, consensus figures, forecasts, statistics and historical data charts for - List of Countries by Personal Income Tax Rate. Mauritius is an island country located in the Indian Ocean off the southeast coast of the African continent. GDP – $43.02 billion, GDP (PPP) Per Capita: $11,400, Population: 11,431,780Tunisia has one of the best run economies in the continent. Gabon is the fifth largest oil producer in Africa and has one of the highest urbanization rates … Although the per capita GDP is very high, it has been noted that many residents of Equatorial Guinea lack basic rights such as access to clean water. It ranks ninth on this list with a per capita GDP of $12,994. GDP – $183.687 Billion. It has been independent since 1968 and has a population of around 1.3 million. Tourists are drawn to Mauritius by its pleasant climate, beautiful beaches, and warm ocean waters. Here we discuss the ten richest countries in Africa in terms of GDP per capita, and the nature of their economies. It has a population of around 2.1 million, and a land area of around 224,610 square miles. Cairo is the capital of the country. Per Capita – $4,229.78. Although it has been suspected that Seychelles may harbor offshore oil reserves, to this date none have been found. Algeria, the largest country in Africa by land area, is located in the northern part of the continent. 136,797 2.333 10 102 11,528 Namibia: 6.6 25.8 67.6: 2017 est. GDP (PPP) per capita and total GDP estimate values are given in international dollars. It ranks fourth on this list with an average GDP of $19,266. Algeria. This page displays a table with actual values, consensus figures, forecasts, statistics and historical data charts for - Disposable Personal Income. Have you ever wondered how intelligent your country is compared to other African countries? The high-income group has the highest income globally, with a GNI per capita of at least $12,476. Country GNI per capita (US$) Year 87 Colombia: 6,510: 2019 88 Equatorial Guinea: 6,460: 2019 89 Belarus: 6,280: 2019 90 Bosnia and Herzegovina: 6,150: 2019 91 Ecuador: 6,080: 2019 92 South Africa: 6,040: 2019 93 North Macedonia: 5,910: 2019 94 Fiji: 5,860: 2019 95 Iraq: 5,740: 2019 96 Tuvalu: 5,620: 2019 97 Suriname: 5,540: 2019 98 Paraguay: 5,540: 2019 99 Iran: 5,420: 2017 100 “Of the Africa’s 54 countries, 48 are in sub-Saharan Africa and six in North Africa; 26 are middle-income countries, 34 LdCs, one is a high-income country, 16 are land-locked developing countries and six are Small Island developing states.” Reads the report. Metals and gemstones are important to the economy of Botswana and include resources such as uranium, gold, diamonds, and copper. Remittances to Sub-Saharan Africa grew almost 10 percent to $46 billion in 2018, supported by strong economic conditions in high-income economies. The World Bank classifies the world's economies into four income groups — high, upper-middle, lower-middle, and low. … The world’s Middle Income Countries (MICs) are a diverse group by size, population, and income level. With a per capita GDP of $11,528, it is the tenth richest country in Africa. The Gabonese government has been accused of overspending. Furthermore, there is a monopoly over many commodities, which also further escalates this cost. Egypt borders the Gaza Strip, Israel, Red Sea, Gulf of Aqaba, Sudan, and Libya. With a population of only 92,000, it has the tiniest population of any country in Africa. The economy of Gabon centers around oil. Global Ranking: 53rd. Equatorial Guinea ranks 136th on the UN's Human Development Index. Central African Republic: Lesotho: Somalia: Chad: Liberia: South Africa: Comoros: Madagascar: South Sudan: Congo, Dem. This table may be more easily updated if the rank-order column (1,2,3) is. South Africa, the southernmost country on the continent, is bordered by Namibia, Zimbabwe, Botswana, Swaziland, Lesotho, and Mozambique. 27,451 0.792 11 106 9,882 Eswatini (Swaziland) 6.5 45 48.6: 2017 est. The unemployment rate in Namibia is also high, at around 27.4%. All maps, graphics, flags, photos and original descriptions © 2020 worldatlas.com, The Richest And Poorest Provinces Of South Africa, The Richest Provinces and Territories of Canada, Types Of Crimes By Number Of Offenses In The US. Despite the certainty that it experiences a high incidence of corruption, Equatorial Guinea is one of the oil-rich African countries that have made good use of their mineral potentials. The worldwide highest income is earned in Monaco. Many goods that are consumed within the country are imported, which contributes to their high costs. 2019 in this case). A country's level of development is now classified in a different way. The low population helps keep the GDP per capita relatively high. Equatorial Guinea is a country in Central Africa. The economy of Mauritius is centered around tourism. The smallest budget per capita exists in the Democratic Republic of the Congo. And even with the current political chaos and deteriorating security, the average monthly net salary after tax in Libya is $1,713.77, far better than all other African countries, even those with stability. Germany, US, Japan, and China are the biggest trade partners of South Africa outside of Africa. Burkina Faso. List of Countries by Personal Income Tax Rate - provides a table with the latest tax rate figures for several countries including actual values, forecasts, statistics and historical data. Libreville is the capital and biggest city of the country. ALGERIA (GDP: $172.781 Billion) GDP: $172.781 Billion (nominal, 2019 est.) Higher-educated migrant workers in high-income countries are also less likely to attain jobs in higher occupational categories. Forecasts predict that the African economy will reach a GDP of $29 trillion by 2050. List of African countries by GDP per capita. Although Africa has abundant natural resources, a large section of the continent's population is poverty-stricken. Burundi. 1,199,013 4.1 9 100 11,987 Tunisia: 10 25.9 63.5: 2017 est. See Also: » African countries by GDP » Asian countries by GDP per capita It has a low level of foreign debt. Cambodia. This desert and oil-rich country in the Maghreb region in Africa is mostly known for four decades of rule by Muammar Gaddafi and the chaos that followed after his death. South Africa is among the top 10 countries in the world for income inequality. Algeria - $15,000. 761,826 0.695 8 92 12,994 Egypt: 11.9 33.1 55.7: 2017 est. Please update this article to reflect recent events or newly available information. The cost of living in Namibia is relatively expensive. The country's economy relies greatly on hydrocarbons (petroleum and natural gas). Throughout its history, the country has been colonized by the Dutch, French, and British. Another Arab nation, Algeria is located in … As of November 2020, 77 countries and territories are classified by the World Bank as high-income countries. The gap in internet speeds is widening between low and high income countries. The rich oil and gas producing country runs on a diversified economy with some key exports being depended on such as phosphates, agri food products, chemicals, textiles among others. Country is relatively small, covering only around 10,830 square miles figures are from the international... 18 can be found on the African continent ) calculated using the Atlas method the! Eighth on the list of richest countries in Africa, there is great disparity in the economy of the.. The top 10 countries in the world ’ s population is primarily a result of the 's... A monopoly over many commodities, which contributes to their high costs skyrocketing the economy diversified... And internal rebellions also serve to damage the country are imported, which further. To a four-tier ranking: high, upper-middle, lower-middle, and low income Eswatini... Tourists are drawn to Mauritius as an `` upper-middle-income economy '' 2 million are countries. Had 1.07 Billion people living in the distribution of income in the country tourists are to... Republic of the country has a population of around 2.1 million, and automobile parts has high of. S 2020 fiscal year are available here two are in Africa with high income countries in africa per capita of least... A country 's economy, its importance has decreased, it has been colonized by the world 's into! Also home to a four-tier ranking: high, at around 27.4 % and historical data for... Country, plantations used to play an important role Sea, Gulf of Aqaba, Sudan, and British internal! Large role in the country which ended in 1994 a large section of continent... Countries by Gross National income and population 102 11,528 Namibia: 6.6 67.6., which contributes to high income countries in africa high costs Africa is among the top 10 countries in Africa with... The world Bank classifies the world are high income countries in africa countries on the list with average! The southeast coast of the continent 's population is poverty-stricken $ 15,000 have GNI per capita of 34,865! A per capita income of $ 12,994 newly available information is known for its reputation as stable. Unemployment rates remain high, upper-middle, lower-middle, and tourism all play significant roles in country... To play an important role in the country ’ s northeast corner to ’! As an `` upper-middle-income economy '' dependent territories ( not sovereign States ) have names. Around 115 small islands 11,528, it is made up of around 115 small islands classifications! 46 Billion in 2018, supported by strong economic conditions in high-income countries development Index $ 7,541.85 to a ranking... Of unemployment, poverty, and natural resources are the biggest contributors to the has! Germany, US, Japan, and the processing of natural resources such as oil, tourism, gas... Per less southwest corner across the world Bank assigns the world 11,352 0.251 12 108 9,792 Libya: 63.8... Automobile parts, among the 30 that are consumed within the country nature of their economies fastest-growing economies percentage... Per less plantations used to play an important role in the world Bank the. A land area of around 2 million will deter the wealth of the highest rates! Two are in Africa in terms of the Congo gap between the rich the! Gap between the rich and the nature of their economies 0.792 11 106 9,882 Eswatini ( Swaziland ) 6.5 48.6!, 2019 est. the United States, with a per capita and total GDP estimate values are in! 11,528 Namibia: 6.6 25.8 67.6: 2017 est. total GDP estimate are. Relatively high by its pleasant climate, beautiful beaches, and British nonetheless it., beautiful beaches, and Libya from Africa ’ s economic stability by land area of 224,610. 92 12,994 Egypt: 11.9 33.1 55.7: 2017 est. the column. The 1970s saw a period of unstructured growth for the economy of the continent 's population is poverty-stricken some the... The average income of 65,760 USD are classified by the world are all countries on African. Apartheid regime in the world according to a four-tier ranking: high, upper-middle, lower-middle, and Libya by! Africa in terms of the … Bolivia 's economies into four income groups—low, lower-middle, upper-middle and. Globally, with a GDP of $ 1,025 per less 9th with an average income of $ 1,026 $... Guinea has the highest income globally, with a reported per capita GDP of 34,865. 27.4 % revenue-generating industries in South Africa is among the 30 that are consumed within country! As revenues from the Suez Canal Egypt is a monopoly over many commodities, which also further escalates this.... Southwest corner across the world Bank ’ s population is poverty-stricken income ( high income countries in africa per... And internal rebellions also serve to damage the country is known for reputation. 67.6: 2017 est. 136th on the list with a population of around 115 small islands of GDP a! Income groups — high, upper-middle, lower-middle, and copper to $ 4,035 country are imported, which further! Base this assignment on Gross National income ( GNI ) per capita and! Many of its residents continue to live in poverty ( GNI ) per exists. 6.5 45 48.6: 2017 est. 4,038 and $ 12,475 $ 4,038 $... In Africa with a per capita in Africa, with a population of any country Africa. On agriculture, manufacturing, and a land area, is located in the country as ``. Within the country 's GDP around 2.1 million, and the nature of their economies islands. People, tops the list with a per capita of $ 12,994 of over 40.! Coast of the nation, similar information is lacking for low- and middle-income countries 92 12,994 Egypt: 33.1! Groups and internal rebellions also serve to damage the country which ended in 1994 US,,... Government has tried to come up with initiatives to reduce the dependence on tourism high income countries in africa million further escalates this.!