Fresh from a rebasing exercise in April 2014 that boosted 2013 GDP by 89% to $509.97bn, Nigeria now ranks not only as Africa’s most populous country, but also as its largest economy. It has long played an outsized regional role, making up 76% of West Africa’s GDP and around 60% of its population.
The automobile industry notched up a robust performance in the Philippines last year, with record sales continuing in early 2015, largely due to economic expansion and the growth of the middle class.
Despite some near-term challenges, confidence is growing among Trinidad and Tobago’s industrial companies. According to the Business Confidence Report published by the Central Bank of Trinidad and Tobago (CBTT), the country’s “assembly and related industries” are upbeat about the next 6-12 months.
Hydrocarbons revenues, specifically from liquefied natural gas, still form the bulk of Qatar’s national income. However, as the country moves forward with Qatar National Vision 2030 (QNV 2030), the government is increasingly seeking to diversify the economy away from hydrocarbons while investing in renewable solutions to meet the energy demands of the future.
The Philippine economy is gradually on the rise, largely driven by its business process outsourcing, industry and construction sectors. The average pace of growth in the Philippines in the first half of the decade was 6.3%, compared to 6% in Indonesia, 5.8% in Malaysia and Vietnam, and 3.6% in Thailand.
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