Guinea-Bissau had the highest agricultural contribution to its GDP among African countries in 2024, at 36.8%

Key takeaways:

  • Guinea-Bissau showed the highest agricultural contribution to its GDP at 36.8% in 2024.
  • Contributions range widely, with high reliance seen in Comoros (36.6%) and Ethiopia (34.9%), contrasting with lower percentages in DR Congo (17.1%) and Angola (16.4%).
  • Agriculture, forestry, and fishing contributed a notable 20.4% to Nigeria's GDP in 2024.
  • Countries with high agricultural GDP contributions are predominantly located in West and East Africa.

Agriculture, forestry, and fishing play a crucial role in the economies of many African nations. Data from 2024 reveals that this sector's contribution to Gross Domestic Product varies significantly across the continent, with some countries showing a strong reliance.

For instance, Guinea-Bissau led the continent with agriculture contributing a substantial 36.8% to its GDP in 2024. Nigeria also shows a significant contribution from this sector, with agriculture, forestry, and fishing accounting for 20.4% of its GDP in 2024, highlighting its importance to the nation's economy.

Other nations like Comoros (36.6%) and Ethiopia (34.9%) also demonstrated a high dependency on this sector. This high concentration of agricultural contribution is particularly noticeable in West and East Africa. In contrast, countries such as in DR Congo (17.1%) and Angola (16.4%) show a lower percentage, indicating more diversified economies.

Source:

World Bank

Period:

2024
HTML code to embed chart
Want a bespoke report?
Reach out
Click to copy HTML embed code
Tags
Related Insights
West Africa has the highest concentration of remittance-dependent nations, with 10 countries in the top 20, led by The Gambia (21.1%)
  • The Gambia leads Africa in remittance-GDP ratio, with remittance accounting for 21.1% of its GDP in 2024.
  • Lesotho (20.9%) and Comoros (18.3%) closely follow as highly remittance-dependent economies.
  • Somalia (17.5%) and Liberia (14.3%) also rely heavily on diaspora inflows to support their economies.
  • Nigeria (11.3%) remains a major player, highlighting its strong global diaspora network.
  • Cabo Verde (12.1%) and Senegal (11.6%) demonstrate that remittances are key drivers of income in smaller economies.
  • In larger economies like Egypt (7.6%) and Morocco (8.1%), remittances also make up a significant share of GDP.
Nigeria's agricultural imports' share has been dropping, from 83.9% (2017) to a low of 42.9% (H1 2025)
  • Agricultural imports fell from 83.9% in 2017 to 42.9% in H1 2025, indicating a significant decline in import dependency.
  • Agricultural exports grew from 16.1% in 2017 to 54.0% in 2024, surpassing imports for the first time since 2017.
  • Total agricultural trade increased from ₦1.1 trillion in 2017 to ₦8.2 trillion in 2024.
  • Between 2022 and 2024, the import share dropped significantly from 75.7% to 46.0%.
Nigeria’s 2024 GDP just got a $65 billion boost after the 2025 rebasing
  • The IMF’s new 2019 GDP base year added between $20 billion and $235 billion annually to Nigeria’s GDP from 1990–2025.
  • 2014 saw the biggest jump — an upward revision of $235.1 billion, raising GDP to $811.1 billion from $576.0 billion under the old base.
  • The rebased data consistently show 40–45% higher GDP values through the 2000s and 2010s, revealing a larger economy than earlier estimates.
  • The impact was strongest during Nigeria’s oil boom years (2007–2014), when rebasing captured fast-growing sectors like digital services, informal trade, and modular refining.
With new 2019 base year, Nigeria ranked among the world’s 20 largest economies in 1998, 2013, 2014, and 2015 — peaking at $811 billion
  • Nigeria’s GDP has been rebased to a 2019 base year, raising its nominal value by about 40.8%, according to the IMF’s October 2025 update.
  • The revision includes new data on digital, informal, and service sectors, giving a fuller picture of the economy.
  • Nigeria ranked among the world’s top 20 economies in 1998, 2013, 2014, and 2015, peaking in 2014 at $811 billion.
  • Despite later declines from currency depreciation and slower growth, the revision reaffirms Nigeria’s position as Africa’s largest economy.
Nigeria’s GDP growth peaked at 14.6% in 2002 after years of expansion, now averaging around 3.3% annually
  • From recession to recovery, Nigeria’s GDP growth journey reveals three decades of economic volatility and slow transformation.
  • Nigeria's economy grew by 14.6% in 2002, which is still the highest in the country's history.
  • The country entered a recession in 2016, with the economy shrinking by -1.6%.
  • Nigeria enjoyed a long period of strong growth between 2003 and 2010: The economy grew between 7% and 11%, powered by high oil prices and booming sectors like telecoms and banking.
South Africa’s share of Africa’s GDP has averaged 20% since 1960, peaking in early 1990s
  • South Africa’s share of Africa’s GDP has averaged around 20% since 1960.
  • The country’s relative dominance peaked in the early 1990s at nearly 28% of continental GDP.
  • Nominal GDP grew steadily from $8.7 billion in 1960 to over $400 billion in 2024.
  • South Africa’s share of Africa’s GDP has generally declined in recent decades as other African economies expanded faster.
  • Despite the relative decline, South Africa remains one of Africa’s largest and most influential economies.
POPULAR TOPICS
SIGN UP TO OUR NEWSLETTER
Get periodic updates about the African startup space, access to our reports, among others.
Subscribe Here
Subscription Form
A product of Techpoint Africa. All rights reserved