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Nigeria's Economy Bigger Than Austria, Norway, Ireland - Business - Nairaland

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Nigeria's Economy Bigger Than Austria, Norway, Ireland by philiancoop(m): 10:22am On Nov 18, 2021
Nigeria is numero 1 in Africa.

Investopia:

"Gross domestic product (GDP) is the total monetary or market value of all the finished goods and services produced within a country’s borders in a specific time period."

In other words, GDP is the total wealth, private, public within a country's boarders.

Nigeria, with $514bn is 27th globally and biggest in Africa followed Egypt with $394bn and South Africa with $324bn

It is interesting to note that there is more wealth within Nigeria than many European countries like Austria, Norway, Ireland, Israel, Finland, Czech Republic, Romania, Denmark and 200 others Even UAE (Dubai inclusive).


Actually, the GDP doesn't show how much individuals have or the standard of living in the country. To find that, you will have to divide the GDP with the population. That's called GDP per capita.

It is the amount of wealth the average person has. This may be highly skewed though because the wealth could be concentrated in the hands of few people.

But then you can use the GDP as indication to the amount of opportunities available in the country.

Money dey naija, see what happened last night with Davido.

Use this to plan your movements

Re: Nigeria's Economy Bigger Than Austria, Norway, Ireland by GoldenisSilence: 10:23am On Nov 18, 2021
Mumu
Re: Nigeria's Economy Bigger Than Austria, Norway, Ireland by Nobody: 10:29am On Nov 18, 2021
Stop taking weed u no go hear word u boy undecided
Re: Nigeria's Economy Bigger Than Austria, Norway, Ireland by philiancoop(m): 12:14pm On Nov 18, 2021
Calm down o.

I come in peace
Re: Nigeria's Economy Bigger Than Austria, Norway, Ireland by g8662: 12:20pm On Nov 18, 2021
With all this talk of GDP, why are these countries still doing better than Nigeria as a nation.
Individual wealth is not the same and the impact of national wealth in the lives of everyday people.
Re: Nigeria's Economy Bigger Than Austria, Norway, Ireland by philiancoop(m): 3:58pm On Nov 18, 2021
g8662:
With all this talk of GDP, why are these countries still doing better than Nigeria as a nation.
Individual wealth is not the same and the impact of national wealth in the lives of everyday people.

I mentioned that sir.

And made my point too

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