Top 5 Most Populous African Countries by Nominal GDP per Capita (Linear) #datavisualization

What's gamin' gamers? It's your boy Olino and I am coming at you with another YouTube short, this one is a graphic plot which charts the change in the nominal gross domestic product (GDP) per capita (per person) of the Top 5 Most Populous (Most Populated or Largest) African Countries in Africa from 1960 to 2024: Nigeria, Ethiopia, Egypt, the Democratic Republic of the Congo (DRC or DR Conga), and Tanzania!

Nominal gross domestic product (GDP) is a metric of the overall economic strength of a country measuring the size of its economy, usually in US dollars. It's not a perfect measure of "real" economic output since it may be cheaper to produce items of the same quality in different countries which can make a countries nominal GDP appear larger or smaller than expected.

Still, nominal GDP is a simple metric frequently used by economists. It is important to remember that nominal GDP is calculated using "current US dollars" which means the nominal GDP in 1960 is calculated in 1960 US dollars and the nominal GDP in 2020 is calculated in 2020 US dollars. This means that part of the growth in nominal GDP is driven in part by inflation instead of real economic growth.

Nominal GDP per capita, rather than measuring the overall size of the economy, measures the size of the economy on a per capita (per person) basis. This essentially models the average economic output per person in the country and can be a better metric for comparing living standards and economic development between countries with different populations.

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Music: "Dirt Rhodes" by Kevin MacLeod
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Nominal GDP:

Source: Country official statistics, National Statistical Organizations and/or Central Banks; National Accounts data files, Organisation for Economic Co-operation and Development (OECD); Staff estimates, World Bank (WB)

Population:

Source: World Population Prospects, United Nations ( UN ), uri: population.un.org/wpp, publisher: UN Population Division; Statistical databases and publications from national statistical offices, National Statistical Offices, uri: unstats.un.org/home/nso_sites, publisher: National Statistical Offices; Eurostat: Demographic Statistics, Eurostat ( ESTAT ), uri: ec.europa.eu/eurostat/data/database?node_code=earn_ses_monthly, publisher: Eurostat; Population and Vital Statistics Report ( various years ), United Nations ( UN ), uri: unstats.un.org, publisher: UN Statistics Division

Видео Top 5 Most Populous African Countries by Nominal GDP per Capita (Linear) #datavisualization канала Olino