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What are the countries with the most stable economies in the world? In other to measure this properly, the Boston Consulting Group (BCG) computed the “Sustainable Economic Development Assessment” (SEDA) for 2016.
In order to do this, it is important to note that looking at wealth alone is clearly not enough, the study attempted to calculate the well-being of the people in each country including the Gross Domestic Product (GDP) per person and other factors like: civil rights, education and other measures.
Therefore, it is possible that while oil-rich states in the Middle East may have the highest levels of GDP per person, they might also lag behind the in terms of civil rights, education and others.
On July 21, 2016, the report covered 163 countries or territories and it showed each country’s performance across three measures: economics, investment and sustainability.
According to BCG, the economics is made up of income, stability and employment; investment comprises health, education and infrastructure; and sustainability includes income inequality, civil society, government and environment.
According to the report which was released on Wednesday, in Lagos, Nigeria ranks 142, ahead of Libya and Angola but behind countries like Swaziland and Pakistan.
Below is a chart of the results produced, note where Nigeria falls below the 20 SEDA score:
The 10 dimensions of well-being considered are:
2. Economic stability
8. Income equality
9. Civil society
The chart which is based on the SEDA scoring system shows Norway at the very top with a score of 100.
Norway is followed by northern European states and other developed countries. United Arab Emirates and Qatar are at 25th and 26th respectively.
Nigeria ranks below Uganda and is on the same level with Angola in the charts. Below is a list of the countries with the least progress between 2006 and 2014:
Meanwhile, when the Institute for Economics and Peace released the Global Terrorism for 2016, a document which helps in measuring and understanding the impact of terrorism globally.
According to the report, Nigeria’s position did not change in the ranking, from what it was in 2015. The nation still ranked 3rd in the world, with regards to operations of terrorists.
Watch a video below of the state of the Nigerian market: