IMF: Algeria Rises to Become Africa’s Third Largest Economy in 2025

✍️ BY: Dr. Hana Saada

IMF Forecasts Project Strong Growth Trajectory Driven by Industrial Diversification and Public Investment

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Algiers, Algeria | June 2nd, 2025 — In its latest projections, the International Monetary Fund (IMF) has ranked Algeria as the third largest economy in Africa for the year 2025, with a Gross Domestic Product (GDP) estimated at $268.9 billion. This places Algeria ahead of most African nations, trailing only South Africa ($410.3 billion) and Egypt ($347.3 billion).

The IMF’s data underscores Algeria’s economic resilience and upward trajectory. In 2023, the country recorded a 4.2% growth rate, driven largely by a resurgence in the hydrocarbons sector, coupled with strong performances in industry, construction, and services. Growth is projected to remain robust in 2024, with a 3.8% increase, supported by expanded public spending and an improved investment climate.

In a comparative context, an earlier IMF report noted that Algeria and Mauritania posted the highest economic growth rates in the Arab world in 2024, at 3.8% and 5.1% respectively. This contrasts with contraction in countries such as Sudan (-4.2%) and Kuwait (-1.4%).

Algeria’s ascent has not emerged in a vacuum. In 2023, the country ranked fourth among Africa’s top 20 economies, based on GDP and Purchasing Power Parity (PPP), reaching a combined value of $628.99 billion, according to Insider Monkey, a US-based business platform.

Further projections by Statista, a US statistics portal, estimate Algeria’s GDP will climb to $306.03 billion by 2029, up from $193.36 billion in 2019, reflecting sustained growth, improved foreign currency revenues, and a gradual improvement in the overall economic environment.

In an interview held in July 2024, President Abdelmadjid Tebboune projected that Algeria is on course to reach $400 billion in national income by the end of 2027. He later revealed in November 2024 that the agriculture sector alone generated nearly $37 billion, contributing 15% of GDP, while the industrial sector’s share remained at 5%.

This momentum reflects Algeria’s continued commitment to diversifying its economy and reducing dependence on hydrocarbons, with agriculture and industry now central pillars of its medium- and long-term growth strategies.

Africa’s Top 10 Economies in 2025 (IMF Estimates):

1. South Africa – $410.3 billion

2. Egypt – $347.3 billion

3. Algeria – $268.9 billion

4. Morocco – $165.8 billion

5. Nigeria – (Not listed in the source)

6. Kenya – $131.7 billion

7. Ethiopia – $117.5 billion

8. Angola – $113.3 billion

9. Côte d’Ivoire – $94.5 billion

10. Ghana – $88.3 billion

Algeria’s upward positioning highlights its emergence as a key economic force on the continent, amid ongoing efforts to leverage domestic capabilities and integrate more deeply into regional and global markets.

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