NIGERIA POPULATION

The total population in Nigeria was last recorded at 162.5 million people in 2011 from 45.2 million in 1960, changing 260 percent during the last 50 years. Population in Nigeria is reported by the World Bank. Historically, from 1960 until 2011, Nigeria Population averaged 92.0 Million reaching an all time high of 162.5 Million in December of 2011 and a record low of 45.2 Million in December of 1960. The population of Nigeria represents 2.35 percent of the worlds total population which arguably means that one person in every 43 people on the planet is a resident of Nigeria.

NIGERIA UNEMPLOYMENT RATE

 Unemployment Rate in Nigeria increased to 23.90 percent in 2011 from 21.10 percent in 2010. Unemployment Rate in Nigeria is reported by the National Bureau of Statistics. Historically, from 2006 until 2011, Nigeria Unemployment Rate averaged 14.6 Percent reaching an all time high of 23.9 Percent in December of 2011 and a record low of 5.3 Percent in December of 2006. In Nigeria, the unemployment rate measures the number of people actively looking for a job as a percentage of the labour force.

TRADE

 Nigeria recorded a Current Account surplus of 11.60 percent of the country's Gross Domestic Product in 2011. Current Account to GDP in Nigeria is reported by the African Economic Outlook. Historically, from 1980 until 2011, Nigeria Current Account to GDP averaged 1.2 Percent reaching an all time high of 37.9 Percent in December of 2008 and a record low of -18.7 Percent in December of 1986. The Current account balance as a percent of GDP provides an indication on the level of international competitiveness of a country. Usually, countries recording a strong current account surplus have an economy heavily dependent on exports revenues, with high savings ratings but weak domestic demand. On the other hand, countries recording a current account deficit have strong imports, a low saving rates and high personal consumption rates as a percentage of disposable incomes.

NIGERIA BALANCE OF TRADE