Worlddata.info

Indicators of economy in Nigeria

The essential economic performance of a country is reflected by the gross domestic product. So the total of all goods and services sold. Worldwide gross domestic product in 2020 was at about 10.906 US Dollar per capita. In contrast, the GDP in Nigeria reached 2.097 US dollars per inhabitant, or 432.29 bn US Dollar in the whole country. Nigeria is therefore currently ranked 26 of the major economies. If this is calculated per inhabitant taking into account the purchasing power parity, then Nigeria is in the list of the world's richest countries in place 141.

Inflation in Nigeria was in 2019 at around 11.40%. For the the EU, the average of the same was year at 0.50%. In the United States, it was most recently 1.23%.

Compared with the USA, prices for daily consumer goods are around 64.6% lower.
The Corruption Perceptions Index for the public sector counts 67 and is compared to other countries moderate.


Back to overview: Nigeria

Impact of the Covid-19 pandemic in 2020

Overall, the gross domestic product in Nigeria in 2020 decreased moderatly from 448.12 billion US Dollar to 432.29 billion US Dollar. Certainly, there have been shifts in some sectors of the economy, but a minus of 3.5% is still comparatively good this year. Numerous countries suffered more substantial losses. The unemployment rate rose from 8.5 to 9.0 percent.

Unemployment rates in percent 1991 - 2020

Economic performance 2020

 Nigeria
Total
Nigeria
per capita
EU
Total
EU
per capita
GDP432.29 bn USD2,097.09 USD15,292.10 tn USD29,692.44 USD
Gross national product412.81 bn USD2,002.55 USD15,330.18 tn USD29,766.38 USD


The largest company in Nigeria is Zenith Bank with a market capitalization of 1,169.00 bn Dollar. It is the only company in the country to be included in the Forbes Global 2000 list in 2020. This independent list annually publishes the 2000 largest companies worldwide, with Zenith Bank Bank ranking 1842nd last year.

Development of the Gross domestic product in billion US Dollar 1979 - 2020



Im- and Exports 2020

 Nigeria
Total
Nigeria
per capita
EU
Total
EU
per capita
Imports72.18 bn USD350.14 USD7,314.16 bn USD14,201.79 USD
Exports39.94 bn USD193.74 USD7,834.94 bn USD15,212.97 USD


Development of imports and exports in billion US dollars 1979 - 2020

Exports
Imports



Nigeria: AirportsLargest airports and airlines in NigeriaThe 17 biggest airports and Overland in Nigeria with further information and data
Nigeria: OverviewNigeria: country data and statisticsNigeria in numbers: demographics, economy, energy, climate and more data and comparisons with other countries.
Pariah StatesList of the 11 current Pariah States11 countries, which suffer from the sanctions of the international community because of their mostly autocratic government.