NIGERIA has been adjudged the world's 22nd largest economy with an annual growth rate of 5% during the course of 2015 according to the latest survey of the planet's wealthiest countries the International Monetary Fund (IMF).

According to the figures published yesterday, Nigeria's gross domestic product (GDP) is set to total $1.105trn in 2015, representing a 5% growth from last year. Despite global crude oil prices falling by about three quarters over the last year, Nigeria has defied the negative growth that afflicted several crude-producing countries.

Of the world's 30 largest economies countries examined in the survey, oil producers like Brazil and Russia suffered declines in GDP. Africa's two other economies on the list Egypt and South Africa, who were ranked 24th and 30th respectively, enjoyed GDP growth rates of 5.2% and 2.4% respectively.

In terms of growth, Nigeria, was also the sixth highest achiever as only China, India, Egypt, Pakistan and the Philippines recorded higher GDP growth. Other key features of the survey was that China overtook the US as the world's largest economy with a GDP of $19.51trn, India moved into third place thanks to its 8.3% growth rate that bumped GDP up to $8.02trn and Egypt overtook South Africa as Africa's second largest economy.

Over the last 15 years, Nigeria has enjoyed annual GDP growth rates of about 7% but with crude oil prices falling to about $40 a barrel from over $100 a barrel, it is no surprise that growth has slowed. Despite this, the economy continues to diversify and the country remains on course to achieve its goal of becoming one of the world's top 20 economies by 2020.

International Monetary Fund statistics at October 2015

1. China: US$19.510 trillion (up 7.9% from 2014)
2. United States: $17.968 trillion (up 3.6%)
3. India: $8.027 trillion (up 8.3%)
4. Japan: $4.842 trillion (up 1.6%)
5. Germany: $3.842 trillion (up 2.5%)
6. Russia: $3.474 trillion (down -2.9%)
7. Brazil: $3.208 trillion (down -2.1%)
8. Indonesia: $2.839 trillion (up 5.7%)
9. United Kingdom: $2.660 trillion (up 3.5%)
10. France: $2.647 trillion (up 2.2%)
11. Mexico: $2.220 trillion (up 3.3%)
12. Italy: $2.174 trillion (up 1.8%)
13. South Korea: $1.849 trillion (up 3.7%)
14. Saudi Arabia: $1.681 trillion (up 4.4%)
15. Spain: $1.636 trillion (up 4.1%)
16. Canada: $1.628 trillion (up 2%)
17. Turkey: $1.576 trillion (up 4.1%)
18. Iran: $1.382 trillion (up 1.8%)
19. Australia: $1.137 trillion (up 3.4%)
20. Taiwan: $1.114 trillion (up 3.2%)
21. Thailand: $1.107 trillion (up 3.5%)
22. Nigeria: $1.105 trillion (up 5%)
23. Poland: $1.003 trillion (up 4.5%)
24. Egypt: $996 billion (up 5.2%)
26. Pakistan: $930.8 billion (up 5.3%)
27. Netherlands: $831.4 billion (up 2.8%)
28. Malaysia: $813.5 billion (up 5.7%)
29. Philippines: $742.3 billion (up 7%)
30. South Africa: $724 billion (up 2.4%)

-International Monetary Fund's World Economic Outlook database.


- See more at: http://www.nigerianwatch.com/news/8271-latest-imf-figures-show-nieria-as-worlds-22nd-largest-economy-with-gdp-jof-11trn

GEJ handwork.


lalastica

Nice

gej legacy remains

menesheh:
GEJ handwork.

And Ngozi Okonjo Iweala's brilliance

All these statistics that don't reflect the reality of the citizens day to day existence are just tiring...


22nd Largest economy & youths by their 22nd bithdays are still begging parents & older relatives for small change to recharge their phones!!!! Issokay!!

Ok no input from GMB yet

Paper Analysis. we have seen it. NEXT!!!!

God bless everyone,presidents,citizens who have worked to make Nigeria proud!
This comments is for PMB and the APC to key into the numerous achievements Nigeria has achieved and stopand its propaganda campaign.
This is the summary about Nigeria that puts it on the Global stage!



"Over the last 15 years, Nigeria has enjoyed annual GDP growth rates of about 7% but with crude oil prices falling to about $40 a barrel from over $100 a barrel, it is no surprise that growth has slowed. Despite this, the economy continues to diversify and the country remains on course to achieve its goal of becoming one of the world's top 20 economies by 2020."




God bless Gej for his efforts and God Give PMB wisdom to key into this vision .
God bless Nigeria.

Good

Nice one even though I ain't feeling it until I get a job

If Nigeria Could be squeezed to stand on that paper, then it may be true!

shogz89:
Nice one even though I ain't feeling it until I get a job

Why not start a small scale manufacturing enterprise at home? You can make bags, sandals, furniture, and a hundred other items. You'll make more money than a salary could pay you. The advantage you have is the booming economy we have, hence there's a ready market for your products.

Rossikk:
Why not start a small scale manufacturing enterprise at home? You can make bags, sandals, furniture, and a hundred other items. You'll make more money than a salary could pay you. The advantage you have is the booming economy we have, hence there's a ready market for your products.

most of this small scale industries are already over populated, we need soft loans to go into poultry, fisheries, home construction etc. co operatives need loans for small scale industries like fertilizer production.

abouzaid:
most of this small scale industries are already over populated, we need soft loans to go into poultry, fisheries, home construction etc. co operatives need loans for small scale industries like fertilizer production.

I don't agree that the market is saturated for small scale manufactured products. You can earn a good living by making stuff. People do this in China, India, US etc. How then can you say the Nigerian market is saturated? Millions of households still lack many items, and with incomes rising, there is a market for finished products of all kinds.

johnydon22:


Even China and U.s the largest economies still have unemployed, homeless people, poor people and what have you... not only in Nigeria.

But does the ratio of the unemployed outclass the employed ...

2/3 of US & China are not living from hand to mouth...

kozmokaz:
gej legacy remains

Shatap if the news was "Nigeria drop to 35" would you say its Gej's legacy?
Baba carry go.

God bless Jonathan

Kyase:

Shatap if the news was "Nigeria drop to 35" would you say its Gej's legacy?
Baba carry go.

actually from d current rating; Nigeria has dropped self....


now imagine d height gej took Nigeria to before d crashing !!!

receive sense

johnydon22:


Forget the emotional attachment here, We all know the line between Goodluck's achievements with that of Buhari for now this government is still a bit young.

Give your baba few more years and we will check Nigeria's position in the World economy list then you can know if you will shout baba carry go..

for now don't give another man's credit to another because you are emotionally attached to one.

This is glaringly Goodluck's handiwork. . . Say other wise betrays a lot of naivety and blind sentiment

Nigeria have outgrown this sort of person as a president. It is demeaning and belittling.

GEJ legacy nd soon lai mohammed nd his kunu drinkers will soon claim dy glory GEJ may u live long cs anytym ur achievement is mentioned ur enemies do have nightmares like,e-rats,keyamo,lai mohammed,APC as a whole

Cc. lalasticlala

All this figure is not helping us.....let them come out to address our issue. Not this big figure .


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During campaign Buhari wear suit make we feel say him na modern man, na dat suit picture make many pple vote am in but since he turn president na dat he 3 abokiii native he take dey tour. This change na from bad to worse.