News & Events » Blog

Nigeria can be among top 10 economies by 2050 – PWC

“We project new emerging economies like Mexico and Indonesia to be larger than the UK and France by 2030
(in PPP terms) while Turkey could become larger than Italy. Nigeria and Vietnam could be the fast growing
large economies over the period to 2050.”

 

“The rise of Indonesia and Nigeria through the world rankings throughout the period to 2050 is very striking: Indonesia rises from 9th in 2014 to 4th in 2050, and Nigeria rises from 20th in 2014 to 9th in 2050.”

 

Breakdown of components of average annual real GDP growth (2014 – 2050)

PWC Analysis

 

 

Figure 1 below shows the estimated average real GDP growth rates for the 32 economies covered in this study over the period to 2050. Newly emerging economies such as Nigeria and Vietnam could grow at 5% or more per annum on average over this period, whilst the growth of established emerging economies such as China may moderate to around 3-4%. Advanced economies are projected to grow at around 1.5-2.5% per annum in the long run, with variations reflecting different working age population growth to a significant degree

 

 

 

Full report: http://www.pwc.com/gx/en/issues/the-economy/assets/world-in-2050-february-2015.pdf