Question

Nigeria VS South Africa. Which is Africa’s Biggest Economy?

Amira Daoui · Accepted Answer

According to the International Monetary Fund which uses an approximate official rate of N304 for every US dollar, Nigeria will emerge victorious. Using this figure places the country’s GDP at $395 billion. However, basing the calculations on the Naira’s market price which is about 20% weaker than the official price, the GDP value goes down remarkably. This would place Nigeria behind South Africa which is currently rated at $344 billion.

Tag: african economy

Nigeria VS South Africa: Which is The Biggest Economy in Africa?

WAIT!

Are you looking to import?