NIC Oil rents (% of GDP) 2021: Interactive Chart & Historical Data

Latest value: 0.02 (2021-01-01)

Oil rents (% of GDP) is a fundamental measure of economic output and living standards in NIC. It captures the total value of goods and services produced, serving as the primary benchmark for economic growth, productivity, and international competitiveness. Governments and international organizations use GDP indicators to formulate fiscal policy, allocate resources, and compare economic performance across nations. In NIC, Oil rents (% of GDP) reflects structural economic changes, demographic shifts, and integration into global markets. Analysts examine GDP trends to forecast business cycles, identify recession risks, and evaluate the effectiveness of economic stimulus programs. The most recent data point shows 0.02 as of 2021-01-01. This dataset spans 1971–2021, covering 51 annual observations. Data is sourced from World Bank and updated regularly on EconDash. Use EconDash's interactive chart to explore GDP trends over time, switch between chart types, and compare NIC's performance with other economies worldwide.