Will you take two minutes to complete a brief survey that will help us to improve our website? Nigeria’s GDP Hits $440 billion- Minister.
The economy of Nigeria shrank 6.1% yoy in the second quarter of 2020 compared to a 1.9% growth in the prior period. PopulationPyramid.net Population Pyramids of the World from 1950 to 2100.
In nominal terms, Other Services declined by –13.40% (year-on-year) in Q2 2020. Menu. Nigeria. GDP of Nigeria increased from 67.82 billion US dollars in 2000 to 446.54 billion US dollars in 2019 growing at an average annual rate of 11.43%. The Nigeria Government said the country’s Gross Domestic Product (GDP) now stands at $440 billion. Its overall score has decreased by 0.1 point, reflecting a decline in the fiscal health score. DataBank Microdata Data Catalog.
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GDP. In 2019, GDP for Nigeria was 446.54 billion US dollars. ABUJA, July 22, 2014 – Nigeria’s short-term economic outlook has improved in 2014 and prospects for continued growth and macroeconomic stability are good in light of increased revenues to the federation, stable foreign reserves and an augmented fiscal reserve fund, according to a new World Bank report. World Economics makes available of world’s most comprehensive GDP database covering over 130 countries with historical GDP PPP data from 1870-2019, building on the lifetimes work of … It is estimated that the application of the latest standard would add US$824 billion.Most American countries use a national income accounting standard that fails to record the informal economy.
Global data and statistics, research and publications, and topics in poverty and developmentWe face big challenges to help the world’s poorest people and ensure that everyone sees benefits from economic growth. The Ministry Solicits the support of all stakeholders’ especially metal sector operators in order to realize this.Chairperson of KAM Holding, Dr. Iyadunni Bolanle Yusuf, stated that the Federal Government must deploy its machinery to support local manufacturers in their bids to survive and grow.Without much effort, Yusuf said Nigeria may not be able to address poverty, unemployment and insecurity among other social vices.The firm, however, promised to create about 10,000 jobs to Nigerians and urged the federal government to expedite actions towards supporting indigenous manufacturers in local capacity building for the Steel Industry in the country.Yusuf said: “The Steel Industry being a very important integral part of the nation’s economy necessary for speedy economic growth and socio-infrastructural development, there is need for government to focus more on the sector, recognize and declare Iron and Steel as national products to boots our foreign exchange earnings in the face of dwindling price of Oil in the global market.“Today, KAM Steel has acquired the steel plant formerly owned by SMC and we believe that with this milestone, our capacities would increase tremendously and will reposition Nigeria as a self-sufficient nation and we hope that the Federal Government shall continue to provide the enabling environment and support for continuing the actualization of the vision of the highly committed Nigerian behind this project.”Check your inbox or spam folder to confirm your subscription.
Nigeria’s economic freedom score is 57.2, making its economy the 116th freest in the 2020 Index. While the South of Nigeria has relatively low poverty rates, ranging from 16% in the South West to 28.8% in the South East, poverty rates in the North West and North East are 45.9% and 50.2%, respectively. The Human Capital Index (HCI) database provides data at the country level for each of the components of the Human Capital Index as well as for the overall index, disaggregated by gender. This is no doubt related to the recent security challenges in the Northern part of Nigeria. Learn how the World Bank Group is helping countries with COVID-19 (coronavirus). 'Changes nothing' You have clicked on a link to a page that is not part of the beta version of the new worldbank.org. © Thank you for agreeing to provide feedback on the new version of worldbank.org; your response will help us to improve our website. Explanatory factors for the high differences in living standards by geographical region are likely related to differences in the provision of public services and the degree of connectedness to larger markets. {"2005":66258079.25, "2006":70254119.18, "2007":74785391.60, "2008":79474631.63, "2009":84985734.36, "2010":91648394.44, "2011":98436743.88, "2012":102648852.15, "2013":108185731.23, "2014":115012250.87, "2015":118063525.89, "2016":116154438.68, "2017":117090643.45, "2018":119358689.22, "2019":121994129.07}[{"1960":185.95, "1961":178.20, "1962":184.96, "1963":200.99, "1964":207.49, "1965":197.77, "1966":187.70, "1967":158.19, "1968":159.26, "1969":187.48, "1970":224.68, "1971":256.67, "1972":265.30, "1973":279.61, "1974":310.81, "1975":294.57, "1976":321.20, "1977":340.55, "1978":320.92, "1979":342.61, "1980":357.02, "1981":310.15, "1982":306.88, "1983":291.39, "1984":285.50, "1985":309.26, "1986":282.18, "1987":251.84, "1988":270.84, "1989":288.36, "1990":325.17, "1991":323.16, "1992":324.56, "1993":331.34, "1994":334.36, "1995":333.33, "1996":349.98, "1997":359.78, "1998":369.55, "1999":371.31, "2000":391.05, "2001":420.94, "2002":510.80, "2003":563.07, "2004":622.07, "2005":662.58, "2006":702.54, "2007":747.85, "2008":794.75, "2009":849.86, "2010":916.48, "2011":984.37, "2012":1026.49, "2013":1081.86, "2014":1150.12, "2015":1180.64, "2016":1161.54, "2017":1170.91, "2018":1193.59, "2019":1219.94}]{"1971":14.2, "1972":3.4, "1973":5.4, "1974":11.2, "1975":-5.2, "1976":9.0, "1977":6.0, "1978":-5.8, "1979":6.8, "1980":4.2, "1981":-13.1, "1982":-1.1, "1983":-5.1, "1984":-2.0, "1985":8.3, "1986":-8.8, "1987":-10.8, "1988":7.5, "1989":6.5, "1990":12.8, "1991":-0.6, "1992":0.4, "1993":2.1, "1994":0.9, "1995":-0.3, "1996":5.0, "1997":2.8, "1998":2.7, "1999":0.5, "2000":5.3, "2001":7.6, "2002":21.3, "2003":10.2, "2004":10.5, "2005":6.5, "2006":6.0, "2007":6.4, "2008":6.3, "2009":6.9, "2010":7.8, "2011":7.4, "2012":4.3, "2013":5.4, "2014":6.3, "2015":2.7, "2016":-1.6, "2017":0.8, "2018":1.9, "2019":2.2}
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The GDP value of Nigeria represents 0.37 percent of the world economy.