Share of Household Consumption at Current Purchasing Power Parities for Nigeria
CSHCCPNGA156NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.84
Year-over-Year Change
30.32%
Date Range
1/1/1950 - 1/1/2019
Summary
The 'Share of Household Consumption at Current Purchasing Power Parities for Nigeria' measures the proportion of total household consumption in Nigeria's economy, adjusted for differences in purchasing power across countries.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
This indicator provides insights into the structure of Nigeria's economy, specifically the role of household consumption. It is used by economists and policymakers to analyze consumption patterns and evaluate the standard of living in Nigeria relative to other countries.
Methodology
The data is calculated by the World Bank using purchasing power parity (PPP) exchange rates to adjust household consumption for price level differences.
Historical Context
This metric is relevant for understanding Nigeria's economic development and consumer trends, which can inform policy decisions and business strategies.
Key Facts
- Nigeria's household consumption accounts for a significant portion of its GDP.
- Purchasing power parity adjustments are important for cross-country comparisons.
- Household consumption trends can indicate changes in Nigeria's standard of living.
FAQs
Q: What does this economic trend measure?
A: This trend measures the share of total household consumption in Nigeria's economy, adjusted for differences in purchasing power across countries.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insights into the structure of Nigeria's economy and the role of household consumption, which is relevant for understanding economic development and consumer trends.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using purchasing power parity (PPP) exchange rates to adjust household consumption for price level differences.
Q: How is this trend used in economic policy?
A: This metric is relevant for policymakers and economists analyzing Nigeria's economic development and consumer trends, which can inform policy decisions and business strategies.
Q: Are there update delays or limitations?
A: The data may be subject to update delays and limitations typical of international economic statistics.
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Citation
U.S. Federal Reserve, Share of Household Consumption at Current Purchasing Power Parities for Nigeria (CSHCCPNGA156NRUG), retrieved from FRED.