Similar values. GDP per capita of all the top 31 ranked economies declined in 2020. Following a sharp drop in oil prices and capital outflows, real GDP is estimated to have contracted by 3.2 percent in 2020 amidst the pandemic-related lockdown. 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 Angus Maddison. Real GDP Growth Per Capita to Contract by 7.4% in Africa’s Oil Nations The International Monetary Fund (IMF) on Tuesday said COVID-19 economic implications, both in terms of lockdowns and external shocks, will lead to Africa’s average real GDP growth per capita contracting by 4.9 percent and 7.4 percent for oil-dependent economies on the continent. Nigeria's Vision 20:2020 – the economic transformation blueprint that Okonjo-Iweala wanted Nigerians to applaud – is a roadmap to mediocrity. But the global lender expects Nigeria’s economy to rebound by 2.6% in 2021. Same region. GDP per capita: $17,154.74. $30,000 - $40,000. 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 … Nigeria's GDP amounted to 443 billion U.S. dollars in 2020 and records the highest gross domestic product in Africa. Nigeria gdp for 2019 was $448.12B, a 12.82% increase from 2018. Office Information. None. Current GDP per capita of Nigeria expanded 132% in the sixties reaching a peak growth of 283% in the seventies. License : CC BY-4.0. Nigeria’s economy has been hit hard by the COVID-19 pandemic. This means there was a 0.17% point increase in the growth of the Nigerian economy (year-on-year). 1960-2019 Data | 2020-2021 Forecast | Historical | Chart. Read more. Nigeria’s per capita income, which stood at $2,229.9 in 2019, was around $847.40 in 1980, according to data from the World Bank. Period. Dollars) Economy returns to growth in the fourth quarter. All videos about Nigeria. Countries by GDP (PPP) per capita (Int$) in 2020 according to the IMF >50,000 35,000–50,000 20,000–35,000 10,000–20,000 5,000–10,000 2,000–5,000 <2,000 Data unavailable. But this proved unsustainable and it consequently shrank by 66% in the 1980s. Also Show. >$60,000. Find Out, Online tool for visualization and analysis. The Gross Domestic Product per capita in Nigeria was last recorded at 2386.90 US dollars in 2019. Nigeria March Inflation Rate at Over 4-Year High, Nigeria Private Sector Growth at 5-Month High, Nigeria Factory Activity Shrinks in December, Nigeria Services Sector Shrinks for 8th Month, Fitch Revises Nigeria Credit Outlook to Negative, US Weekly Jobless Claims Seen Rising to 549K, Belgium Economy Unexpectedly Grows 0.6% QoQ in Q1, Swedish Consumer Morale Strongest since 2018, Eurozone Economic Morale Above Pre-Pandemic Level, Swedish Business Sentiment Highest since 2011, Heating Oil Rises Toward Over 1-Year High, UK Car Production Rises for 1st Time in 19 Months, German Jobless Unexpectedly Rises in April. The statistic shows gross domestic product (GDP) in Nigeria from 1995 to 2019, with projections up until 2025. Data. GDP per capita of Nigeria in nominal and ppp terms. GDP growth (annual %) - Nigeria. $6,100 (2016 est.) 8044: Internally Generated Revenue At State Level (Q4 2019) 2: 7: 21: State Generated Revenue, Net FAAC Allocation, Revenue Available,External debt, Domestic debt. Publish your articles and forecasts in our website. The Gross Domestic Product per capita in Nigeria was last recorded at 2386.90 US dollars in 2019. Key information about Nigeria GDP Per Capita. GDP per … $50,000 - $60,000. 24 of 1991, CBN Decree Amendments 1993,No. - … $6,300 (2015 est.) Nigeria GDP - composition by sector. GDP is the sum of gross value added by all resident producers in the economy … $5,000 - $10,000. To learn more about cookies, click here. GDP - per capita: $5,900 (2017 est.) Nigeria gdp per capita for 2019 was $2,230, a 9.97% increase from 2018. The GDP per Capita in Nigeria is equivalent to 19 percent of the world's average. $10,000 - $20,000. Countries by 2019 GDP (nominal) per capita. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds. August 24, 2020 5:12 PM. Learn how the World Bank Group is helping countries with COVID-19 (coronavirus). Articles by topic. Nigeria GDP (Gross Domestic Product) was INT$1,219.94billion for 2019 in PPP terms. industry: 22.5% (2016 est.) The National Bureau of Statistics (NBS) says Nigeria’s Gross Domestic Product (GDP) decreased by –6.10 per cent (year-on-year) in real terms in the second quarter of 2020. The GDP per Capita in Nigeria is equivalent to 19 percent of the world's average. Label. Resident Representative for Nigeria Ari Aisen Resident Representative . World Bank national accounts data, and OECD National Accounts data files. The value for GDP per capita (current LCU) in Nigeria was 659,159.10 as of 2018. Nigeria Gross Domestic Product (GDP) per Capita reached 2,073.783 USD in Dec 2020, compared with 2,341.862 USD in Dec 2019. World Bank national accounts data, and OECD National Accounts data files. In the 1990s, diversification initiatives finally took effect and decadal growth was restored to 10%. Niger GDP (Gross Domestic Product) was INT$22.74billion for 2019 in PPP terms. services: 56.4% (2017 est.) Population, GDP, life expectancy, birth rate and other key metrics for Nigeria. MPC Mandate. The maximum level was 5516 USD and minimum was 2902 USD. IMF warns that the reductions in GDP due to COVID-19 will widen inequality. 4 of 1997,No. November 17, 2020. $20,000 - $30,000. Updated as of 2020. Blogs about Nigeria . The country entered the crisis with falling per capita income, high inflation, and governance challenges. Central Bank of Nigeria. As the graph below shows, over the past 58 years this indicator reached a maximum value of 659,159.10 in 2018 and a minimum value of 66.40 in 1960. Estimates by world bank since 1960 in nominal terms and since 1990 in ppp terms at current and constant prices. Nigeria’s Gross Domestic Product (GDP) grew by 2.55% in real terms in the fourth quarter (Q4) of 2019, up from 2.38% growth recorded in the fourth quarter of 2018. GDP per capita PPP (purchasing power parity) in Nigeria decreased to 5136 USD in 2019. Aggregates. Historical Data (USD) by years. GDP per capita, PPP (current international $), GDP per capita, PPP (constant 2017 international $), International Comparison Program & Purchasing Power Parity, International Household Survey Network (IHSN), Trust Fund for Statistical Capacity Building. Nigeria gdp for 2017 was $375.75B, a 7.14% decline from 2016. MONETARY POLICY. ( 2015 ) Absolute annual change in primary energy consumption s economy has been hit by! 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