Niger's real GDP grew by 9.9% in 2024, a significant increase from the slower growth rate of 2.4% the year before.

Key takeaways:

  • Niger’s 9.9% GDP growth in 2024 was the highest among African nations
  • At 7.0%, Rwanda remained one of Africa’s most consistent high-growth economies.
  • Despite being Africa’s largest economy, Nigeria’s 2.9% GDP growth is modest compared to smaller, more agile economies, signalling potential challenges in leveraging its vast resources.
  • The contrast between Niger’s 9.9% growth and Nigeria’s 2.9% highlights how smaller nations can outperform larger ones.

Niger led Africa in real GDP growth for 2024, achieving an impressive 9.9% growth. This marked a dramatic turnaround from its modest 2.4% growth in 2023. Following Niger are Rwanda (7.0%) and Benin, Ivory Coast, and Djibouti — all at 6.5%. Meanwhile, Nigeria, despite its size and economic significance, recorded a growth rate of 2.9%, falling short of the rapid expansions seen in smaller economies.

Source:

IMF

Period:

2024
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