Algeria and Morocco are respectively the 4th and 5th largest African economies in terms of gross domestic product (GDP), according to International Monetary Fund data. The IMF says that Morocco will overtake Algeria in 2025.
With a gross domestic product (GDP) amounting to 154 billion dollars, Morocco will overtake Algeria in 2025, becoming richer than its eastern neighbour. This is what the International Monetary Fund’s forecasts and projections on world wealth measured by GDP reveal. The IMF has unveiled its forecasts and projections of world wealth measured by GDP, at current prices (in dollars) over the period 2021-2026 and its ranking of the richest countries in Africa by 2026.
The GDP of the 10 richest countries in Africa, over the next six years, will reach 2,877 billion dollars in 2026 against 1,739 billion dollars in 2020, an increase of 65.44%. Morocco occupies the 4th place in this ranking. According to IMF projections, GDP will be 124 billion dollars in 2021, 131 in 2022, 138 in 2023, 146 in 2024.
Algeria’s GDP would amount to $151 billion in 2021, and would remain constant ($150 billion) in 2022, 2023 and 2024. In 2025 and 2026, the Moroccan GDP would reach respectively 154 billion dollars and 162 billion dollars against 152 billion dollars and 153 billion dollars for the Algerian neighbour. The kingdom would thus overtake Algeria for two consecutive years.
Nigeria, the continent’s leading economic power, remains the richest country in Africa in terms of gross domestic product. Its GDP will double over the next six years. According to IMF projections, it will rise from $429 billion in 2020 to $964 billion in 2026.
In the top 10 African economies, Egypt ranks 2nd followed by South Africa (3rd), Morocco (4th), Algeria (5th), Kenya (6th), Ethiopia (7th) and Côte d’Ivoire (8th). Ghana (9th) and Tanzania (10th) complete the African ranking.