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Is Nigeria's Gdp Really Only Comparable To The Island Of Hawaii?!

I saw this blog that equates the GDP of various nations to states within the US and was shocked that Nigeria's GDP only equates to Hawaii.

By the way, you'll be shocked to see how the world (except for the U.K., Japan, Germany, China, and Italy) are all consumed within the US.

http://bigpicture.typepad.com/comments/2007/01/countries_gdp_a.html

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8 answers

According to the CBN,our GDP is $142 billion-http://www.businessdayonline.com/?c=132&a=10731

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@Seun

Actually, the importance of the GDP is that it acts as the measurement of the girth of any economy. Plus, because it uses uniform measurements regardless of economy, it is a good comparative tool for the size of a nation's economy.

There is a very good reason each country spends tremendous labor and other resources computing these numbers yearly. In otherwords, GDP matters. Immensely! It tells you how large your economy is taking into account goods, services, government spendings etc.

In lay terms, it is analogous to my economic worth Mine vs yours [b]vs [/b]Joe Blows.

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Does GDP put food on the table? How did the post-September-11 GDP increase help Americans? Please.

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Here's a list of the top 50.

Rank Country GDP (purchasing power parity) Date of Information

1 World $ 60,630,000,000,000 2005 est.

2 United States $ 12,310,000,000,000 2005 est.

3 European Union $ 12,180,000,000,000 2005 est.

4 China $ 8,883,000,000,000 2005 est.

5 Japan $ 4,025,000,000,000 2005 est.

6 India $ 3,666,000,000,000 2005 est.

7 Germany $ 2,480,000,000,000 2005 est.

8 United Kingdom $ 1,818,000,000,000 2005 est.

9 France $ 1,794,000,000,000 2005 est.

10 Italy $ 1,667,000,000,000 2005 est.

11 Russia $ 1,584,000,000,000 2005 est.

12 Brazil $ 1,536,000,000,000 2005 est.

13 Canada $ 1,111,000,000,000 2005 est.

14 Korea, South $ 1,101,000,000,000 2005 est.

15 Mexico $ 1,064,000,000,000 2005 est.

16 Spain $ 1,033,000,000,000 2005 est.

17 Indonesia $ 869,700,000,000 2005 est.

18 Australia $ 635,500,000,000 2005 est.

19 Taiwan $ 630,000,000,000 2005 est.

20 Turkey $ 584,500,000,000 2005 est.

21 Iran $ 569,900,000,000 2005 est.

22 Thailand $ 550,200,000,000 2005 est.

23 Argentina $ 543,400,000,000 2005 est.

24 South Africa $ 540,800,000,000 2005 est.

25 Poland $ 505,200,000,000 2005 est.

26 Netherlands $ 497,900,000,000 2005 est.

27 Philippines $ 412,500,000,000 2005 est.

28 Pakistan $ 395,200,000,000 2005 est.

29 Saudi Arabia $ 346,300,000,000 2005 est.

30 Colombia $ 341,100,000,000 2005 est.

31 Ukraine $ 329,100,000,000 2005 est.

32 Belgium $ 322,300,000,000 2005 est.

33 Bangladesh $ 305,900,000,000 2005 est.

34 Egypt $ 304,300,000,000 2005 est.

35 Malaysia $ 287,000,000,000 2005 est.

36 Sweden $ 268,300,000,000 2005 est.

37 Austria $ 265,800,000,000 2005 est.

38 Switzerland $ 240,900,000,000 2005 est.

39 Greece $ 238,200,000,000 2005 est.

40 Algeria $ 235,500,000,000 2005 est.

41 Vietnam $ 235,200,000,000 2005 est.

42 Hong Kong $ 234,300,000,000 2005 est.

43 Czech Republic $ 204,400,000,000 2005 est.

44 Portugal $ 200,600,000,000 2005 est.

45 Norway $ 196,400,000,000 2005 est.

46 Chile $ 189,900,000,000 2005 est.

47 Denmark $ 189,300,000,000 2005 est.

48 Romania $ 181,800,000,000 2005 est.

49 Nigeria $ 175,500,000,000 2005 est.

50 Peru $ 167,300,000,000 2005 est.

as you can see Uk, France and Italy have similar GDPs. since France appears on the map it can be easily replaced by Italy or the UK

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Who cares. GDP is just a number. Can you spend GDP in a market? Do you even know what it represents?

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Here is the full picture

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The faster the growth in GDP,the faster the growth in per capita income

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