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Economy: Senegal and Cameroon exceed Nigeria in terms of GDP per capita

27/06/2024
Source : ORISHAS-FINANCE
Categories: Economy/Forex

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The latest biannual data provided by the IMF last April shows that Senegal and Cameroon surpass Nigeria in terms of GDP per capita.

Senegal and Cameroon respectively had a GDP per capita of 1,730 and 1,710 dollars in 2023, compared to 1,690 for Nigeria. The two countries join Côte d'Ivoire and Mauritania, which had surpassed Nigeria in 2020 and 2021, respectively, and whose GDP per capita was 2,570 and 2,380 dollars in 2023. A great performance that is therefore the result of greater economic dynamism, and which has naturally resulted in much stronger economic growth in recent years. Over the decade 2014-2023, annual economic growth averaged 5.3% for Senegal and 3.9% for Cameroon, while it was only 2.0% in Nigeria. Senegal and Cameroon joined Côte d'Ivoire and Mauritania, which had fairly recently overtaken Nigeria, thanks to annual growth rates of 6.5% and 3.2%, respectively, over the last ten years, and with a recent acceleration for Mauritania.

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