South Africa overtakes Nigeria as African largest economy
Barely about two years after losing it to Nigeria, South African economy has regained the position of Africa’s largest in dollar terms, as the value of the nations’ currencies moved in opposite directions.
According to Bloomberg report monitored by Business247 News Online, based on GDP at the end of 2015 published by the International Monetary Fund (IMF), the size of South African’s economy is $301 billion at the rand’s current exchange rate, while Nigeria’s GDP is $296 billion.
That is because the rand has gained more than 16 per cent against the dollar since the start of 2016, and Nigeria’s naira has lost more than a third of its value after the central bank removed a currency peg in June.
Both nations face the risk of a recession after contracting in the first quarter of the year. The Nigerian economy shrank 0.4 per cent in the three months to end-March from a year earlier, amid low oil prices and output, and a shortage of foreign currency. That curbed imports, including fuel.
In South Africa’s GDP contracted 0.2 per cent from a year earlier as farming and mining output declined.
“More than the growth outlook, in the short term the ranking of these economies is likely to be determined by exchange rate movements,” Alan Cameron, an economist at Exotix Partners, said in e-mailed responses to questions on August 2. Although Nigeria is unlikely to be unseated as Africa’s largest economy in the long run, “the momentum that took it there in the first place is now long gone”.
The rand rallied as investors turned to emerging markets with liquid capital markets to seek returns after Britain voted to leave the EU on June 23, even as the South African Reserve Bank forecast that the economy would not expand in 2016 and the nation risked losing its investment-grade credit rating.
The ANC’s lowest support since 1994 in the August 3 local government vote led to further gains, on speculation that it would pressure the party to introduce economic reform that would boost growth and cut unemployment.
In Nigeria, investors did not flock to buy naira-based assets after authorities removed the peg of 197-199 naira per dollar. The Central Bank of Nigeria raised its benchmark interest rate to a record in July to lure foreign money, even as the IMF forecast the economy would contract 1.8 per cent this year.
Nigeria was assessed as the continent’s largest economy in April 2014 when authorities in the West African nation overhauled their GDP data for the first time in two decades. The recalculation resulted in the Nigerian economy in 2013 expanding by three-quarters to an estimated 80-trillion naira.
The rand gained 1per cent to 13.2805 per dollar at 4.03pm in Johannesburg on Wednesday. The naira weakened 2.7 per cent to 320 per dollar, Bloomberg reports.
Athekame Kenneth liked this on Facebook.
I just want to tell you that I am beginner to blogging and really loved your web-site. More than likely I’m likely to bookmark your blog post . You surely have remarkable articles and reviews. Appreciate it for sharing your blog.
I simply want to say I’m very new to weblog and honestly liked you’re website. More than likely I’m want to bookmark your website . You really have beneficial article content. Thanks a lot for revealing your web-site.
I simply want to say I’m beginner to weblog and seriously loved your website. More than likely I’m going to bookmark your site . You absolutely have tremendous well written articles. Many thanks for revealing your blog.
I simply want to say I am just newbie to blogging and honestly liked your web blog. Very likely I’m planning to bookmark your site . You amazingly have amazing article content. Many thanks for revealing your website.
I just want to tell you that I’m very new to weblog and absolutely savored this web site. Very likely I’m going to bookmark your blog . You really come with terrific writings. Kudos for sharing with us your web site.
I just want to tell you that I’m newbie to weblog and actually enjoyed you’re blog. Most likely I’m planning to bookmark your blog post . You really have exceptional articles and reviews. Kudos for sharing your website page.
I just want to say I am very new to blogging and site-building and honestly enjoyed this web blog. Very likely I’m planning to bookmark your website . You definitely have good article content. Cheers for sharing your web-site.
I simply want to mention I’m very new to blogs and certainly liked you’re website. Likely I’m planning to bookmark your site . You definitely come with terrific posts. Thanks for revealing your blog.
I just want to say I am just all new to blogs and honestly enjoyed this web-site. Very likely I’m likely to bookmark your site . You absolutely come with tremendous stories. Thanks a lot for sharing with us your blog.
I just want to mention I am just newbie to blogging and site-building and really loved your blog. Likely I’m planning to bookmark your site . You absolutely have exceptional writings. Thank you for sharing your web page.
I just want to say I’m very new to blogging and really enjoyed you’re blog. More than likely I’m want to bookmark your site . You definitely have fabulous stories. Many thanks for revealing your web page.
Unquestionably believe that which you stated. Your favorite justification seemed to be on the web the simplest thing to be aware of. I say to you, I definitely get annoyed while people consider worries that they plainly don’t know about. You managed to hit the nail upon the top as well as defined out the whole thing without having side-effects , people could take a signal. Will probably be back to get more. Thanks
very nice post, i certainly love this website, keep on it
Thank you for sharing these kind of wonderful discussions. In addition, the perfect travel and also medical insurance approach can often ease those considerations that come with visiting abroad. The medical emergency can before long become very costly and that’s sure to quickly put a financial impediment on the family’s finances. Setting up in place the great travel insurance package deal prior to setting off is definitely worth the time and effort. Thanks a lot
are you looking for a great house to rent? RentinDenver.com has tons of rentals for your needs.
The next time I learn a blog, I hope that it doesnt disappoint me as much as this one. I imply, I do know it was my choice to read, however I actually thought youd have one thing fascinating to say. All I hear is a bunch of whining about one thing that you would fix in case you werent too busy searching for attention.
I think this is one of the most vital info for me. And i’m glad reading your article. But should remark on some general things, The website style is great, the articles is really excellent : D. Good job, cheers|
Nice post. I be taught one thing more difficult on completely different blogs everyday. It is going to at all times be stimulating to read content material from different writers and observe just a little something from their store. I’d choose to use some with the content material on my weblog whether or not you don’t mind. Natually I’ll provide you with a hyperlink on your net blog. Thanks for sharing.
Good write-up, I am normal visitor of one’s blog, maintain up the excellent operate, and It is going to be a regular visitor for a long time.
Hi, i think that i saw you visited my weblog so i came to “return the favor”.I am trying to find things to enhance my web site!I suppose its ok to use a few of your ideas!!|
9/22/2016 at 19:08:38 Hello from danglekatangul
I was very encouraged to find this site. I wanted to thank you for this special read. I definitely savored every little bit of it and I have you bookmarked to check out new stuff you post. http://www.homedecorated.net
In my estimation, business247ng.com does a excellent job of handling topics of this kind! While frequently deliberately contentious, the information is more often than not well-written and thought-provoking.
Brilliant, thanks, I will bookmark you now.
Usually I do not post on blogs, but I would like to say that this article really forced me to do so! Thanks, really nice article.
Good day I am so glad I found your webpage, I really found you by accident, while I was looking on Yahoo for something else, Regardless I am here now and would just like to say kudos for a fantastic post and a all round entertaining blog (I also love the theme/design), I don’t have time to read through it all at the minute but I have book-marked it and also included your RSS feeds, so when I have time I will be back to read a great deal more, Please do keep up the fantastic jo.|
Support For Quickbooks, ^^1^844^722^^6675, Quickbooks phone number, ^^1^844^722^^6675,Quickbooks phone support, ^^1^844^722^^6675,Quickbooks TOLLFREE number, ^^1^844^722^^6675, ### $$^^1^844^722^^6675,Quickbooks technical support phone number, ^^1^844^722^^6675,Quickbooks support phone number, ^^1^844^722^^6675,Quickbooks enterprise support phone number, ^^1^844^722^^6675,Quickbooks enterprise technical support, ^^1^844^722^^6675,Quickbooks payroll support number, ^^1^844^722^^6675,Quickbooks payroll support, ^^1^844^722^^6675,Quickbooks premier support, ^^1^844^722^^6675,Quickbooks premier support phone number, ^^1^844^722^^6675,Quickbooks POS support, ^^1^844^722^^6675,Intuit technical support phone number, ((1((844))722((6675))), Intuit support phone number, ((1((844))722((6675))),Intuit POS support number, ((1((844))722((6675))),Intuit point of sale support, ((1((844))722((6675))),Intuit phone help, ((1((844))722((6675))),Intuit help desk, ((1((844))722((6675))),Quickbooks help desk, 1844.722.6675Quickbooks payroll support number, ^^1^844^722^^6675,Quickbooks payroll support, ^^1^844^722^^6675,Quickbooks premier support, ^^1^844^722^^6675,Quickbooks premier support phone number, ^^1^844^722^^6675,Quickbooks POS support, ^^1^844^722^^6675,Intuit technical support phone number, ((1((844))722((6675))), Intuit support phone number, ((1((844))722((6675))),Intuit POS support number, ((1((844))722((6675))),Intuit point of sale support, ((1((844))722((6675))),Intuit phone help, ((1((844))722((6675))),Intuit help desk, ((1((844))722((6675))),Quickbooks help desk, 1844.722.6675
In my estimation, business247ng.com does a great job of handling subject matter like this. Even if sometimes intentionally contentious, the posts are more often than not thoughtful and challenging.
Zune and iPod: Most people compare the Zune to the Touch, but after seeing how slim and surprisingly small and light it is, I consider it to be a rather unique hybrid that combines qualities of both the Touch and the Nano. It’s very colorful and lovely OLED screen is slightly smaller than the touch screen, but the player itself feels quite a bit smaller and lighter. It weighs about 2/3 as much, and is noticeably smaller in width and height, while being just a hair thicker.
9/28/2016 Like this site– extremely informative and lots to explore!
I’m pleased with the way that business247ng.com handles this kind of subject. Generally on point, often contentious, always well-written and also stimulating.
I more or less share your opinion on this subject and look forward to new posts and comments here at business247ng.com. Thanks!
I admire the beneficial information and facts you provide in your posts. I will bookmark your blog and have my children examine up right here often. From: home interior decoration design ideas
business247ng.com does it again! Quite a interesting site and a well-written article. Nice work!
10/2/2016 I’m gratified with the way that business247ng.com handles this type of subject matter. Generally to the point, sometimes controversial, without fail thoughtful and more often than not quite stimulating.
Hiya! You some kind of professional website hosting? Great message. Are you able to tell me learn how to subscribe your blog?
Great post. I used to be checking continuously this blog and I’m inspired! Very helpful information specifically the last section 🙂 I take care of such info much. I used to be looking for this particular info for a very lengthy time. Thanks and best of luck. |
Hey, thanks for sharing I always look forward to reading your posts one of the few blogs I still follow home decorated
Quickbooks Phone Number)))) 1-844-722-6675 ((((Quickbooks Tech Support phone number @@Call, 1-844-722-6675 for all type help by Quickbooks tech support phone number, 1-844-722-6675 Intuit Quickbooks Tech Support Phone Number, 1-844-722-6675 Quickbooks Help Desk Phone Number, 1-844-722-6675 Quickbooks tech support number, Quickbooks technical support phone number,@@ 1-844-722-6675 @ Quickbooks phone number, 1-844-722-6675 Quickbooks technical support number, 1-844-722-6675 Quickbooks support phone number, 1-844-722-6675 Quickbooks technical support, Quickbooks Customer Service Phone Number, Quickbooks Customer Service Number, Quickbooks Customer Support Phone Number, Quickbooks Customer Support Number,@@@@ Quickbooks Customer Service Helpline Number, Quickbooks Customer Care Number, Quickbooks support team phone number, @@@@@ Quickbooks help number-Quickbooks Helpline Number; Quickbooks help phone number-Quickbooks Helpline Number, Quickbooks Tech Support Toll free Number, Quickbooks Support Telephone Number, Quickbooks Tech Support Telephone number, Quickbooks Tech Support contact number, Quickbooks support contact number, Quickbooks technical support contact number. Call, Quickbooks tech support phone number, Intuit Quickbooks Tech Support Phone Number, Quickbooks Help Desk Phone Number, Quickbooks tech support number, Quickbooks technical support phone number, Quickbooks phone number, Quickbooks technical support number, Quickbooks support phone number. It is very popular toll free number which provide by Quickbooks technical support, Quickbooks Customer Service Phone Number, Quickbooks Customer Service Number, Quickbooks Customer Support Phone Number, Quickbooks Customer Support Number, Quickbooks Customer Service Helpline Number, Quickbooks Customer Care Number, Quickbooks support team phone number. Call, Quickbooks tech support phone number, Intuit Quickbooks Tech Support Phone Number, Quickbooks Help Desk Phone Number, Quickbooks tech support number, Quickbooks technical support phone number, Quickbooks phone number, Quickbooks technical support number, Quickbooks support phone number, Quickbooks technical support, Quickbooks Customer Service Phone Number, Quickbooks Customer Service Number, Quickbooks Customer Support Phone Number, Quickbooks Customer Support Number, Quickbooks Customer Service Helpline Number, Quickbooks Customer Care Number, Quickbooks support team phone number, Quickbooks help number-Quickbooks Helpline Number; Quickbooks help phone number, Quickbooks Helpline Number, Quickbooks Tech Support Toll free Number, Quickbooks Support Telephone Number, Quickbooks Tech Support Telephone number, Quickbooks Tech Support contact number, Quickbooks support contact number, Quickbooks technical support contact number, Quickbooks pro support phone number, Quickbooks payroll support phone number. Quickbooks payroll customer support phone number Quickbooks Support Helpline Number, Quickbooks contact number Quickbooks tech support phone number Quickbooks support team phone number Quickbooks contact number 1-844-722-6675 Quickbooks technical help telephone number, Quickbooks technical help contact number, Quickbooks technical support contact number, Quickbooks contact number, Quickbooks contact phone number, Quickbooks contact telephone number, Quickbooks 24 hour contact number, Quickbooks customer support contact number, Quickbooks customer service contact number, Quickbooks official number, Quickbooks official contact number, Quickbooks 800 contact number, Quickbooks toll free number, 800 number for Quickbooks support, Quickbooks 24/7 support phone number Quickbooks PRO support phone number,Quickbooks PRO support phone number,Quickbooks PRO help phone number, Quickbooks PRO technical support number.Quickbooks PRO support number, Quickbooks PRO phone number, Quickbooks PRO tech support number, Quickbooks PRO customer support number, Quickbooks PRO customer support phone number, Quickbooks PRO customer service phone number, Quickbooks PRO payroll customer service phone number, Quickbooks PRO support phone number. Help@Call 1-844-722-6675/.Quickbooks 24/7 support phone number,Quickbooks telephone number for support? call 1-844-722-6675@./Quickbooks contact number, Quickbooks contact phone number, Quickbooks contact telephone numbertelephone number for Quickbooks online support,Quickbooks official support number,Quickbooks official number,Quickbooks payroll official phone number,phone number for Quickbooks payroll supportQuickbooks 24/7 support phone numberQuickbooks support number,Quickbooks telephone number for support ……………… Quickbooks PRO phone number,(1-844-722-6675)// Quickbooks PRO customer care number….. Quickbooks PRO Toll Free, Intuit@(1-844-722-6675)@-: Quickbooks PRO Technical Support Number, Quickbooks PRO help desk phone number provides online solution for all USA/CANADA clients. For any help of query call 1 800 860 9230 to get all Quickbooks PRO account solution. For any help of query call 1 800 860 9230 to get all Quickbooks PRO account solution. @@Call, 1-844-722-6675 for all type help by Quickbooks PRO support telephone number,Quickbooks PRO support phone number,Quickbooks PRO support phone number,Quickbooks PRO help phone number, Quickbooks PRO technical support number.Quickbooks PRO support number, Quickbooks PRO phone number, Quickbooks PRO tech support number, Quickbooks PRO customer support number, Quickbooks PRO customer support phone number, Quickbooks PRO customer service phone number, Quickbooks PRO payroll customer service phone number, Quickbooks PRO support phone number Quickbooks PRO help number-Quickbooks PRO Helpline Number; Quickbooks PRO help phone number-Quickbooks PRO Helpline Number, Quickbooks PRO Tech Support Toll free Number, Quickbooks PRO Support Telephone Number, Quickbooks PRO Tech Support Telephone number, Quickbooks PRO Tech Support contact number, Quickbooks PRO support contact number, Quickbooks PRO technical support contact number, Quickbooks PRO help desk phone number. Call, @(1-844-722-6675)@-: It is very popular toll free number which provide by Quickbooks PRO technical support, Quickbooks PRO Customer Service Phone Number, Quickbooks PRO Customer Service Number, Quickbooks PRO Customer Support Phone Number, Quickbooks PRO Customer Support Number, Quickbooks PRO Customer Service Helpline Number, Quickbooks PRO Customer Care Number, Quickbooks PRO support team phone number. Call,@(1-844-722-6675)@-: Quickbooks PRO help number-Quickbooks PRO Helpline Number; Quickbooks PRO help phone number, Quickbooks PRO Helpline Number, Quickbooks PRO Tech Support Toll free Number, Quickbooks PRO Support Telephone Number, Quickbooks PRO Tech Support Telephone number, Quickbooks PRO Tech Support contact number, Quickbooks PRO support contact number, Quickbooks PRO technical support contact number, Quickbooks PRO pro support phone number, Quickbooks PRO payroll support phone number. Quickbooks PRO payroll customer support phone number for all type help by Quickbooks PRO support telephone number, Quickbooks PRO help phone number, Quickbooks PRO technical support number.Quickbooks PRO support number, Quickbooks PRO phone number, Quickbooks PRO tech support number, Quickbooks PRO customer support number, Quickbooks PRO customer support phone number, Quickbooks PRO customer service phone number, Quickbooks PRO payroll customer service phone number
Interesting, I wonder what the statistics are on your first point there on homedecorated
10/9/2016 business247ng.com does it yet again! Very informative site and a thought-provoking post. Thanks!
Never Ever give up: Even though you fail initially; Dont manage to get a great deal of views at first, do your self a favour, do not give up.
In my estimation, business247ng.com does a great job of covering subject matter of this kind! Even if sometimes intentionally contentious, the material posted is generally well-written and thought-provoking.
VSR ^^ Full POWER \m/ =@=1.844<722<6675=@= Quickbooks enterprise Support Phone NumBER!@!!1-844-722-6675 @@! Quickbooks enterprise SuPpoRT 1-844-722-6675 Quickbooks enterprise SupPORTPHonE NumbER USA!JEETôßPppu? 1 844 722 6675 Quickbooks enterprise SuPpoRT PhoNENumber..,O»G!!!!??ô US 1-844-722-6675 Quickbooks enterprise help TELEPhoNENumber..,, !!!!??ôQuickbooks enterprise help Number..,, !!!!??ôQuickbooks enterprise SuPpoRT Number..,, Quickbooks enterprise Number..,, Quickbooks enterprise PhoNE Number..,, Quickbooks enterprise TELEPhoNENumber.. 1-844-722-6675 ,, Quickbooks enterprise 24 hourNumber..,, Quickbooks enterprise customer SuPpoRT Number..,, Quickbooks enterprise tech SuPpoRT PhoNEnumber, Intuit Quickbooks enterprise Tech SuPpoRT PhoNE Number, Quickbooks enterprise Help Desk PhoNENumber, Quickbooks enterprise SuPpoRT number, Quickbooks enterprise SupPORT PHonE NumbER, Quickbooks enterprise1-844-722-6675 PhoNEnumber, Quickbooks enterprise 1-844-722-6675 SuPpoRTnumber, Quickbooks enterprise SupPORT/Quickbooks enterprise-technical-support-number-1-844-722-6675- PHonENumbER. It is very popular toll free number which vide by Quickbooks enterprise SuPpoRT, Quickbooks enterprise Customer PhoNE Number, Quickbooks enterprise CustomerNumber, 1-844-722-6675 Quickbooks enterprise Customer SuPpoRT PhoNE Number, Quickbooks enterprise Customer SuPpoRT Number,
I think this is among the most vital info for me. And i’m glad reading your article. But wanna remark on few general things, The website style is ideal, the articles is really great : D. Good job, cheers
business247ng.com does it again! Quite a thoughtful site and a thought-provoking article. Nice work!
I like the valuable info you supply to your articles. I’ll bookmark your blog and take a look at once more here frequently. I’m fairly certain I’ll be informed many new stuff proper right here! Best of luck for the next!
Good read, enjoyed it!
10/22/2016 In my estimation, business247ng.com does a excellent job of handling subjects of this type. Even if ofttimes intentionally controversial, the posts are generally well-written and challenging.
download film terbaru sub indo has diamond like clarity and also in order for this to be striking you must use both that and.
Well-written piece. I just forwarded this on 10/25/2016 to a fellow student who has been involved in some work of her own on this subject. To show their appreciation, they just bought me lunch! So, I should probably say: Cheers for the drink!
Pingback: Google