Victoria Island, Lagos, Nigeria. Credit: Nupo Deyon Daniel
2020 was a year of uncertainty and unpredictability due to the COVID-19 pandemic, which had a significant impact on the global economy. The African continent was no exception and many African countries faced a significant slowdown in their economies. However, by 2022, most African countries had recovered from the initial shock of the pandemic and were showing signs of growth.
In this article, we take a look at the GDP sizes of some African countries and the rate of change between 2020 to 2022 and the projected size for 2023. Among the best performing economies are Angola, Equatorial Guinea, and Ethiopia with growth rates of 29%, 18.7%, and 4.8% respectively from 2020 to 2022.
Among the worst performing economies are Libya with a growth rate of -4.5% and Malawi with a growth rate of -0.8% from 2020 to 2022.