Richest Countries in East Africa, 2022

The list below compiles the top 7 richest countries in East Africa according to their nominal GDP per capita.

**GDP per capita is a measure of a country’s economic output that accounts for population. It divides the country’s gross domestic product by its total population. That makes it the best measurement of a country’s standard of living. It tells you how prosperous a country feels to each of its citizens.

Top 10 Richest Countries in East Africa

1. Djibouti

Djibouti is the richest country in East Africa and the eleventh-richest country in Africa with a Nominal GDP per capita of $3,425.

Djibouti’s economy is largely concentrated in the service sector. Commercial activities revolve around the country’s free trade policies and strategic location as a Red Sea transit point. The GDP in 2022 was estimated at $3.41 billion.

Djibouti is the Richest Country In East Africa

2. Kenya

Kenya is the second richest country in East Africa and the twentieth richest country in Africa with a nominal GDP per capita of $1,802.

Kenya also has largest economy in East Africa, with a GDP of $101.28 billion.

Kenya has made significant political and economic reforms that have contributed to sustained economic growth, social development, and political stability gains over the past decade.

Kenya’s government’s currently have a Vision 2030 development strategy in place, which aims to accelerate sustainable growth, reduce inequality, and manage resource scarcity.

Kenya is the second richest Country in East Africa

3. Tanzania

Tanzania, which has a $64.4 billion GDP, and a GDP per capita of $1,017 is the third richest country in East Africa. Its economy is also the 3rd largest in East Africa after Kenya and Ethiopia.

After nearly a decade of sustained macroeconomic stability that has supported growth, in addition to the country’s rich natural endowments and strategic geographic position, Tanzania formally graduated from low-income country to lower-middle-income country status in July 2020.

4. Ethiopia

Ethiopia is the fourth-richest country in East Africa with a GDP per capita of $800 and the seventh-largest economy in Africa with a nominal GDP of $93.97 billion. Ethiopia is also the largest and most populous nation in East Africa.

Ethiopia is one of the fastest growing economy in Africa, with 6.3 percent growth in the fiscal year of 2020/21.

The government of Rwanda launched a 10-Year Development Plan, which will run from 2020/21 to 2029/30. The plan aims to sustain the remarkable growth achieved under the Growth and Transformation Plans of the previous decade. It also aims to foster efficiency and introduce competition in key growth-enabling sectors, improve the business climate, and address macroeconomic imbalances.

Related:   Top 10 Coffee Producing Countries in Africa, 2022
Rich countries in East Africa

5. Uganda

Uganda has East Africa’s fifth highest per capita GDP of $773. The country also has a Nominal GDP of $37.44 billion.

The nation of Uganda is endowed with significant natural resources, including ample fertile land and mineral deposits but instability and erratic economic management has left Uganda among the world’s least-developed countries.

6. Rwanda

With a nominal GDP per capita $760 Rwanda is the sixth richest country in East Africa. Rwanda also has the fifth largest economy in East Africa with a GDP $10.33 billion.

Since the early-2000s, Rwanda has witnessed an economic boom, which improved the living standards of many Rwandans. The country’s economy is based mostly on subsistence agriculture. Coffee and tea are the major cash crops for export.

These are the richest Countries in Africa

7. Eritrea

With a nominal GDP per capita of $569, the small country of Eritrea is the seventh richest country in East Africa.

Eritrea is located at the banks of the Red Sea and is home to the second highest archaeological historical discoveries in Africa.

The country has an extensive amount of resources such as copper, gold, granite, marble, and potash but for some reason, Agriculture accounts for about one-third of the economy and employs over 60% of the Eritrean workforce.

Richest Countries in East Africa, 2022

Rank Country Name GDP Per Capita (International Dollar)
1 Djibouti $3,425
2 Kenya $1,082
3 Tanzania $1,017
4 Ethiopia $800
5 Uganda $773
6 Rwanda $760
7 Eritrea $569

Richest Countries in Africa, 2022

Rank Country Name GDP Per Capita (International Dollar)
1 Seychelles $11,425
2 Mauritius $8,622
3 Equatorial Guinea $7,143
4 Gabon $7,005
5 Botswana $6,711
6 South Africa $5,090
7 Namibia $4,211
8 Libya $3,699
9 Egypt $3,547
10 Eswatini $3,415
11 Djibouti $3,425
12 Tunisia $3,319
13 Algeria $3,310
14 Cabo Verde $3,064
15 Morocco $3,009
16 Cote d’Ivoire $2,325
17 Ghana $2,328
18 Sao Tome & principe $2,157
19 Nigeria $2,097
20 Congo, Rep. $1,972

Source: World Bank World Bank National Accounts Database, 2021.

Mr Madu
Mr Madu is a freelance writer, a lover of Africa and a frequent hiker who loves long, vigorous walks, usually on hills or mountains.

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