Falling GDP Per Capita Signals Deteriorating Welfare

June 15, 2018//-Gross Domestic Product Per Capita (GDP Per Capita) in Nigeria took a dive while the recession lasted, eroding general welfare.

According to investopedia.com, Per capita GDP is a measure of the total output of a country that takes gross domestic product (GDP), and divides it by the number of people in the country.

In effect, a fast rising population while GDP is static or falling, can lead to falling per Capital GDP. The per capita GDP is especially useful when comparing one country to another, because it shows the relative performance of the countries.

The Gross Domestic Product per capita in Nigeria was last recorded at $2,457.80 in 2016, says tradingeconomics.com. This is 4 per cent worse than the situation in 2015 and 2014.

“The GDP per Capita in Nigeria is equivalent to 19 per cent of the world’s average. GDP per capita in Nigeria averaged $1,648.26  from 1960 until 2016, reaching an all time high of $2,563.10 in 2014 and a record low of $1,089.10 in 1968”.

Independent.ng

 

 

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