Yesterday Nigeria unveiled new GDP figures following the rebasing that catapulted the country of 170 million to become Africa’s biggest economy (GDP US$509b). Below is the ranking of the top sixteen economies in SSA. Mineral economies (10/16) still predominate (Source: The Economist).
Reblogged this on Open For Business: Africa's Largest Market and commented:
This is what one rebasing every 20 or so years will do for you!
Thanks for this post! Recently the first Global Youth Wellbeing Index was released (see blog http://bit.ly/1gVR88r), and Nigeria’s youth placed last of 30 countries. I understand that GDP doesn’t buy wellbeing, but it typically helps, at least for the “economic opportunity” dimension.
However, Nigeria is classified as a lower-middle income country (according to the World Bank), which the graph in this post helps demonstrate why. I don’t know what’s going on in Nigeria that would explain this discrepancy – apart from this article I came across yesterday http://bit.ly/1hyYNVe – so any insights would be appreciated! I work on measuring child and youth wellbeing, but we’re only beginning to measure beyond the OECD countries. Thanks!
Reblogged this on Joel Markmorris Wako's Blog and commented:
If Africa takes the brighter trend, then I am sure the continent will be there soon at the epitome of world economy
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