What is the average GDP per capita in Nigeria?
What is the average GDP per capita in Nigeria?
In 2020, the estimated GDP per capita in Nigeria amounted to around 2,083.16 U.S. dollars….
| Characteristic | GDP per capita in U.S. dollars |
|---|---|
| 2020* | 2,083.16 |
| 2019* | 2,229.85 |
| 2018* | 2,153.09 |
| 2017* | 1,968.56 |
What is the per capita GDP of Nigeria as at 2019?
2,341.862 USD
Nigeria Gross Domestic Product (GDP) per Capita reached 2,073.783 USD in Dec 2020, compared with 2,341.862 USD in Dec 2019.
What is the GDP per capita 2020?
63,416 US dollars
In 2020, GDP per capita for United States of America was 63,416 US dollars. GDP per capita of United States of America increased from 37,101 US dollars in 2001 to 63,416 US dollars in 2020 growing at an average annual rate of 2.89%.
When did Nigeria have the highest GDP?
GDP in Nigeria averaged 134.82 USD Billion from 1960 until 2020, reaching an all time high of 546.70 USD Billion in 2014 and a record low of 4.20 USD Billion in 1960.
Is a high GDP per capita good?
Gross domestic product (GDP) is a strong indicator of a country’s economic performance and strength. Gross domestic product per capita is sometimes used to describe the standard of living of a population, with a higher GDP meaning a higher standard of living.
How is Nigeria GDP so high?
Nigeria has the largest economy in Africa. The country’s re-emergent manufacturing sector became the largest on the continent in 2013, and it produces a large proportion of goods and services for the region of West Africa. In addition, the debt-to-GDP ratio was 16.075% as of 2019.
What country has the lowest GDP per capita?
Lowest 5 GDP Per Capita – World. The country with lowest GDP Per Capita is Somalia (187.00 USD in 2010) followed by Burundi (212.55 USD in 2017) in the second position and Central African Republic (335.03 USD in 2017) in the third. Copyright © 2018 IECONOMICS.
What is the growth rate of Nigeria?
Nigeria’s central bank expects the economy to pick up in 2019, forecasting a gross domestic product growth of 3 percent, up from 1.9 percent recorded last year, its governor Godwin Emefiele said on Thursday. Emefiele said the bank would maintain its tight monetary stance in 2019, and sees inflation at 11.31 percent in February and ]
What countries use GDP?
GDP is an important factor in reflecting the health of economy of a country. The best way to understand the economic growth and the position of a country is by knowing its GDP. The top countries by GDP are United States, China, Japan, Germany closely followed by United Kingdom, France & India.
What is the meaning and significance of GDP per capita?
Key Takeaways GDP per capita is a country’s economic output divided by its population. It’s a good representation of a country’s standard of living. It also describes how much citizens benefit from their country’s economy. Purchasing power parity compares different countries’ economic output.
