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South Africa Reclaims Its position As Biggest Economy On Continent

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Aug 15 '16 | By Kemet1luv
(Atlanta Black Star) South Africa is once again the biggest economy on the African continent, a position it reclaims from Nigeria, thanks to a surging rand.

Using the gross domestic product at the end of 2015 published by the International Monetary Fund, Bloomberg reported that the size of South Africa’s economy is $301 billion at the rand’s current exchange rate, while Nigeria’s GDP is $296 billion.


Bloomberg noted that the rand has gained more than 16% against the US currency since the start of 2016, while in contrast, Nigeria’s naira has lost more than a third of its value.


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