What is Nigeria GDP currently?

Year GDP Nominal (Current USD) GDP change
2017 $375,745,486,521 0.81%
2016 $404,649,527,538 -1.62%
2015 $494,583,180,777 2.65%
2014 $568,498,937,616 6.31%

What is the current GDP of Nigeria 2021?

GDP is an important indicator of a country’s economic power. In 2019, Nigeria’s gross domestic product amounted to around 448.12 billion U.S. dollars.

Characteristic Gross domestic product in billion U.S. dollars
2023* 668.85
2022* 588.42
2021* 514.05
2020* 429.42

What is Nigeria GDP as at today?

In addition, the debt-to-GDP ratio is 16.075% as of 2019.

Economy of Nigeria.

Statistics
GDP $514.076 billion (nominal, 2021 est.) $1.116 trillion (PPP, 2021 est.)
GDP rank 26th (nominal, 2021) 24th (PPP, 2021)
GDP growth 2.2% (2019) -3.0% (2020 est.) 1.5% (2021 est.)
GDP per capita $2,432(nominal, 2021 est.) $5,280 (PPP, 2021 est.)

What is the current GDP 2020?

Economy of India

Statistics
Population 1,380,000,000 (2020 est.)
GDP $3.05 trillion (nominal; 2021 est.) $10.21 trillion (PPP; 2021 est.)
GDP rank 6th (nominal; 2020) 3rd (PPP; 2020)
GDP growth 1.6% (Q4 20/21e)(National Statistical Office) −7.3% (20/21e) 9.5% (21/22f) (WB)

Is Nigeria richer than India?

India has a GDP per capita of $7,200 as of 2017, while in Nigeria, the GDP per capita is $5,900 as of 2017.

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Which state is richest in Nigeria?

Top 10 Richest States In Nigeria (2021)

  • Lagos State – IGR: ₦399 billion. …
  • Ogun State – IGR: ₦71 billion. …
  • Delta state – IGR: ₦65 billion. …
  • Kaduna state – IGR: ₦44 billion. …
  • Kano state – IGR: ₦40 billion. …
  • Akwa Ibom – IGR: ₦32 billion. …
  • Enugu state – IGR: ₦31 billion. …
  • Kwara state- IGR: ₦31 billion.

Is Nigeria a rich country?

Nigeria is the richest and most populous country in Africa. The country’s large population of 211 million is a likely contributor to its large GDP. Nigeria is a middle-income, mixed economy and emerging market with growing financial, service, communications, and technology sectors.

How much is Nigeria worth 2021?

GDP in Nigeria is expected to reach 440.00 USD Billion by the end of 2021, according to Trading Economics global macro models and analysts expectations. In the long-term, the Nigeria GDP is projected to trend around 445.00 USD Billion in 2022 and 450.00 USD Billion in 2023, according to our econometric models.

Is Nigeria owing China?

Nigeria owed China $3.402 billion as of March 31, according to the Debt Management Office. The amount covers 11 loan facilities from the China Exim Bank since 2010.

Why is Nigeria a rich country?

With a GDP just under $450 billion, Nigeria holds the position of the richest country in Africa. The sizeable GDP is mainly driven by finance, transport, infrastructure, tourism, and an abundance of crude oil.

Is Nigeria the richest country in Africa?

South Africa concentrated the largest amount of private wealth in Africa as of 2020, some 604 billion U.S. dollars.

Total private wealth in Africa as of 2020, by country (in billion U.S. dollars)

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Characteristic Wealth in billion U.S. dollars
Nigeria 207
Morocco 111
Kenya 90
Ethiopia 57

Why is Nigeria economy bad?

Nigeria’s persistent economic problems including rising inflation rate, as well as fall in in the Purchasing Managers Index (PMI) caused by dollars scarcity as well as depressed in crude oil prices are likely to “stifle” growth in Africa’s biggest economy and “could impact the unemployment rate in the coming months,” …

Is a recession coming in 2020?

A recession is unlikely in 2020, but possible. The economics profession did not predict most past recessions, so the absence of a downturn in current forecasts cannot be too comforting to business leaders planning operations for the upcoming year.

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