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Oil is a major source of income for eight African countries – OWID

OIl and gas production makes up more than half of Libya's GDP and contributes a significant share to the GDPs of seven other African countries.
OIl and gas production makes up more than half of Libya's GDP and contributes a significant share to the GDPs of seven other African countries.

Oil production plays an important role in the economy of many African countries. The chart shows oil rents as a percentage of gross domestic product (GDP) for the nine African nations most reliant on it, Our World in Data reports.

Libya ranks first, with oil rents equivalent to 56% of its GDP in 2021, followed by Congo at 34% and Angola at 28%. Despite being Africa’s largest oil producer, Nigeria’s oil rents are just 6.2% of its GDP.

Despite this, these countries’ oil production is relatively modest on a global scale. In 2021, their combined output was less than half of what the United States, the world’s top producer, extracted.

Explore oil production for more countries