Trade, agriculture, human resources, and industry are the major components of the African economy. As of 2012, Africa housed 1.07 billion people in the 54 countries of the continent. Though the country is rich in resources, the people of the country have been exploited for decades and are poverty stricken. It is expected that the African economy will reach a GDP of $29 trillion by 2050. However, it is also estimated that the disparity in income will deter the wealth distribution among the people of the continent. Currently, a number of African countries are among the poorest while others have some of the fastest growing economies in the world.
Here we discuss the ten richest countries in Asia and the nature of their economies. All figures are from the 2017 International Monetary Fund data. Currently, Equatorial Guinea is the richest country in Africa, with a per capita income of $34,865.
10. Namibia – $11,528