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The International Monetary Fund IMF 2016 Gross Domestic Product GDP estimates made in this October, has projected Nigeria as having the largest economy in Africa.

Ahead of South Africa and Egypt (the second and third largest respectively), IMF puts Nigeria’s GDP at $415.08bn from $493.83bn in 2015.

South Africa’s GDP was put at $280.36bn from $314.73bn in 2015 while Algeria is put at $168.318bn.

Nigeria, Africas Largest economy

Egypt’s 2016 data was said to be unavailable but, the IMF retained it’s 2015 World Economic Outlook for Egypt which was put at $330.159bn.

And for the largest economies in the world, United States, China and Japan have remained as the first three ahead of Germany, United Kingdom and France.

The IMF has also projected that Nigeria will record growth away from recession come 2017.

Source: Premium Times

Written by Okolo Ezinne

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