This page provides values for Disposable Personal Income reported in several countries part of Africa. A country's level of development is now classified in a different way. The average income is calculated by gross national income and population. The country is known for its reputation as a stable democracy. Extreme income inequality is found in the country. Tourism is one of the biggest revenue-generating industries in South Africa. As of November 2020, 77 countries and territories are classified by the World Bank as high-income countries. Again, it is important to note that income inequality is not taken into consideration when the per capita GDP is reported. Algeria, the largest country in Africa by land area, is located in the northern part of the continent. Gabon is the fifth largest oil producer in Africa and has one of the highest urbanization rates … The infiltration of terrorist groups and internal rebellions also serve to damage the country’s economic stability. 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. Like Seychelles, the economy of Mauritius is also centered around tourism. … Another Arab nation, Algeria is located in … In fact, approximately 62% of all maternal deaths worldwide occur there. Despite this fact, South Africa has high rates of unemployment, poverty, and a wide gap between the rich and the poor. The economy of Gabon centers around oil. Although agriculture used to play an important role in the country's economy, its importance has decreased. 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. Metals and gemstones are important to the economy of Botswana and include resources such as uranium, gold, diamonds, and copper. Updated country income classifications are available here. By Oishimaya Sen Nag on September 14 2020 in Society. South Africa is among the top 10 countries in the world for income inequality. Mining, agriculture, manufacturing, and tourism all play significant roles in the country's economy. List of African countries by GDP per capita. Bolivia. Forecasts predict that the African economy will reach a GDP of $29 trillion by 2050. Today, the per capita income in Tunisia is $11,987, Africa's 9th highest. Per Capita – $4,229.78. Seychelles is also an island country in the Indian Ocean. To date, unemployment rates remain high, especially among youth. Despite the abundant natural resources and nearness to the sea, overpopulation, desertification and decreasing water levels of the Nile are the major factors threatening the Egyptian economy. The population of the country is approximately 1,222,245. Botswana is located in southern Africa. Rep. Malawi: Sudan: Congo, Rep: Mali: Tanzania: Côte d'Ivoire: Mauritania: Togo: Equatorial Guinea: Mauritius: Uganda: Eritrea: Mozambique: Zambia: Eswatini: Namibia: Zimbabwe The country has a mixed type of economy with a relatively high GDP compared to other African countries. The World Bank classifies the world's economies into four income groups — high, upper-middle, lower-middle, and low. Equatorial Guinea ranks 136th on the UN's Human Development Index. The remittances of these workers contribute to the wealth of the nation. Egypt is a transcontinental country with territories stretching from Africa’s northeast corner to Asia’s southwest corner across the Sinai Peninsula. It is the 6th richest country in Africa with a GDP per capita of $15,000. Have you ever wondered how intelligent your country is compared to other African countries? Nonetheless, it ranks eighth on the list with an average per capita income of $13,403. All figures are from the 2017 International Monetary Fund data. Germany, US, Japan, and China are the biggest trade partners of South Africa outside of Africa. The World Bank assigns the world’s economies to four income groups—low, lower-middle, upper-middle, and high-income countries. Remittances to Sub-Saharan Africa grew almost 10 percent to $46 billion in 2018, supported by strong economic conditions in high-income economies. It has been applauded for its free economy. With a per capita GDP of $11,528, it is the tenth richest country in Africa. 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. Highest Maternal Mortality Rates. Apart from oil export tourism has played a major role is skyrocketing the economy of the country and do not f… The gross national income (GNI) is calculated by adding gross domestic product to factor incomes from foreign residents, then subtracting income earned by non-residents. Mauritius is the third richest country in Africa with a GDP per capita of $21,628. This is a list of African countries by Gross Domestic Product (GDP) per capita based on purchasing power parity (PPP). 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. Global Ranking: 53rd. Egypt borders the Gaza Strip, Israel, Red Sea, Gulf of Aqaba, Sudan, and Libya. Algeria. The smallest budget per capita exists in the Democratic Republic of the Congo. Throughout its history, the country has been colonized by the Dutch, French, and British. Sierra Leone. In recent decades, the government has tried to come up with initiatives to reduce the dependence on tourism. The economy of Egypt depends on agriculture, tourism, natural gas, and petroleum, as well as revenues from the Suez Canal. Dependent territories (not sovereign states) have their names in italics and are not ranked. Currently, several African countries are among the poorest in the world. The low population helps keep the GDP per capita relatively high. GDP (PPP) Per Capita: $7,541.85. 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. The country's economy relies greatly on hydrocarbons (petroleum and natural gas). It ranks ninth on this list with a per capita GDP of $12,994. South Africa, the southernmost country on the continent, is bordered by Namibia, Zimbabwe, Botswana, Swaziland, Lesotho, and Mozambique. In the United States and Finland, for example, while the share of migrant workers with secondary school education is 78 per cent and 98 per cent, respectively, the share of migrant workers in high- or semi-skilled jobs are only 35 per cent and 50 per cent. Higher-educated migrant workers in high-income countries are also less likely to attain jobs in higher occupational categories. Sub-Saharan Africa (excluding high income) Angola; Benin; Botswana; Burkina Faso; Burundi; Cabo Verde; Cameroon; Central African Republic; Chad; Comoros; Congo, Dem. According to data gotten from IQ-research.info, citizens of Sierra Leone have the highest IQ in Africa, making them the smartest in Africa, they are closely followed by Mauritius, Seychelles, Eritrea and Morocco. We base this assignment on Gross National Income (GNI) per capita (current US$) calculated using the Atlas method. Seychelles ranks as the second richest country of Africa, with a reported per capita GDP of $28,172. Before tourists began to visit the country, plantations used to drive the economy of Seychelles. However, in recent years, the economy has diversified. “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. Capital: Algiers. It is made up of around 115 small islands. Mauritius is an island country located in the Indian Ocean off the southeast coast of the African continent. It is the third richest country in Africa with a GDP per capita of $21,628. Bosnia and Herzegovina. It is considered to be a middle-income country. And even with the current political chaos and deteriorating security, the average monthly net salary after tax in Libya is $1,713.77, far better than all other African countries, even those with stability. Country GNI per capita (US$) 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 1,199,013 4.1 9 100 11,987 Tunisia: 10 25.9 63.5: 2017 est. Considered the richest African country in terms of GDP per capita, Equatorial Guinea maintains the GDP (PPP) per capita of … Libreville is the capital and biggest city of the country. Cambodia. The unemployment rate in Namibia is also high, at around 27.4%. 761,826 0.695 8 92 12,994 Egypt: 11.9 33.1 55.7: 2017 est. The lower-middle-income nations have GNI per capita of $1,026 to $4,035. Developed countries are usually classified as high-income countries. Burkina Faso. Gabon. 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