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Economy of Nigeria. Statistics, Data and Indicators

flag
Nigeria
28B Credit rank #97
N/A Quality of life #
146 Corruption rank#131
131 Ease of doing business#130
Nigeria


Nigeria Major Economic Indicators

Indicator Data Period
GDP Value 410 USD Billion 2019
GDP Annual Growth Rate 2.55 % 4Q/19
GDP Growth Rate 5.59 % 4Q/19
GDP per capita 2396 USD 2018
Inflation Rate YoY 12.2 % Feb/20
Interest Rate 13.5 % Mar/20
Unemployment Rate 23.1 % 3Q/18
Balance of Trade 362685 NGN Million | 0.988 B USD Dec/19
Current Account -6953 USD Million | -6.953 B USD 4Q/19
Foreign Exchange Reserves 35520 USD Million | 35.52 B USD Mar/20


GDP
vvp
410
USD Billion
#34 from 174 countries
GDP per capita
vvp
2396
USD
#121 from 169 countries


GDP Indicators

Indicator Data Period
GDP Value 410 USD Billion 2019
GDP Annual Growth Rate 2.55 % 4Q/19
GDP Growth Rate 5.59 % 4Q/19
GDP per capita 2396 USD 2018
GDP Constant Prices 19750936 NGN Million | 53.817 B USD 4Q/19
GDP per capita PPP 5316 USD 2018
GDP From Agriculture  5093983 NGN Million | 13.88 B USD 4Q/19
GDP From Construction  671111 NGN Million | 1.829 B USD 4Q/19
GDP From Manufacturing  1707263 NGN Million | 4.652 B USD 4Q/19
GDP From Mining  1429668 NGN Million | 3.896 B USD 4Q/19
GDP From Public Administration  427802 NGN Million | 1.166 B USD 4Q/19
GDP From Services  7472196 NGN Million | 20.36 B USD 4Q/19
GDP From Transport  275119 NGN Million | 0.75 B USD 4Q/19
GDP From Utilities  120432 NGN Million | 0.328 B USD 4Q/19


Budget Indicators

Indicator Data Period
Government Debt to GDP 17.5 % 2018
Government Budget Value -1136 NGN Million | -0.003 USD Billion 4Q/19
Government Spending 929917 NGN Million | 2.534 USD Billion 1Q/19
Government Revenues 939 NGN Billion | 2.559 USD Billion 4Q/19
Fiscal Expenditure  2074 NGN Billion | 5.651 B USD 4Q/19
Government Budget to GDP -2.8 % 2018
Military Expenditure 1907 USD Million | 1.907 B USD 2018


Inflation Indicators

Indicator Data Period
Consumer Price Index (CPI) 313 index points Feb/20
Food Inflation 14.9 % Feb/20
Gasoline Prices 0.41 USD/Liter Mar/20
GDP Deflator 203 index points 4Q/19
Inflation Rate YoY 12.2 % Feb/20
Inflation Rate Mom 0.79 % Feb/20
Core Consumer Prices 285 Index Points Feb/20
Core Inflation Rate 9.4 % Feb/20
CPI Housing Utilities 298 Index Points Feb/20
CPI Transportation 283 Index Points Feb/20


Trade Indicators

Indicator Data Period
Current Account to GDP 2.3 % 2018
Balance of Trade 362685 NGN Million | 0.988 USD Billion Dec/19
Capital Flows 13236 USD Million | 13.236 USD Billion 4Q/19
Current Account -6953 USD Million | -6.953 USD Billion 4Q/19
Exports 1759033 NGN Million | 4.793 USD Billion Dec/19
External Debt 27676 USD Million | 27.676 USD Billion 4Q/19
Foreign Exchange Reserves 35520 USD Million | 35.52 USD Billion Mar/20
Imports 1396348 NGN Million | 3.805 USD Billion Dec/19
Terms of Trade  101 Index Points Sep/19


Money Indicators

Indicator Data Period
Gold Reserves 21.46 Tonnes 4Q/19
Interbank Rate 0 % Dec/17
Interest Rate 13.5 % Mar/20
Money Supply M0 2186983 NGN Million | 5.959 USD Billion Feb/20
Money Supply M1 10427024 NGN Million | 28.412 USD Billion Feb/20
Money Supply M2 29730798 NGN Million | 81.01 USD Billion Feb/20
Deposit Interest Rate 6.17 % Feb/20
Foreign Direct Investment 910 USD Million | 0.91 B USD 2Q/19
Private Sector Credit  26695428 NGN Million | 72.74 B USD Feb/20


Labor Indicators

Indicator Data Period
Minimum Wages 30000 NGN/Month | 81.744 USD/Month 2020
Unemployment Rate 23.1 % 3Q/18
Youth Unemployment Rate 36.5 % 3Q/18
Employed Persons 69543 Thousand Person | 69.543 Million Person 3Q/18
Employment Rate  76.9 % 3Q/18
Living Wage Family 137600 NGN/Month | 374.932 USD/Month 2018
Living Wage Individual 43200 NGN/Month | 117.711 USD/Month 2018
Unemployed Persons 20928 Thousand Persons | 20.928 Million Persons 3Q/18
Wages High Skilled 57200 NGN/Month | 155.858 USD/Month 2018
Wages Low Skilled  25500 NGN/Month | 69.482 USD/Month 2018


Taxes

Indicator Data Period
Corporate Tax Rate 30 % 2020
Personal Income Tax Rate 24 % 2018
Sales Tax Rate 7.5 % 2020


Production Indicators

Indicator Data Period
Crude Oil Production 1742 BBL/D/1K Feb/20
Industrial Production -2.9 % 3Q/19
Mining Production 5.7 % 3Q/19


Business Indicators

Indicator Data Period
Business Confidence 6.6 index points Mar/20
Corruption Index 26 index points 2019
Corruption Rank 146 place 2019
Ease of Doing Business 131 place 2019
Manufacturing PMI 51.1 index points Mar/20
Manufacturing Production 2 % 3Q/19
Services PMI 49.2 index points Mar/20
Competitiveness Index 48.33 Index Points 2019
Competitiveness Rank 116 2019
Composite PMI 53.8 Index Points Mar/20


Consumer Indicators

Indicator Data Period
Consumer Confidence -0.3 index points 1Q/20
Consumer Spending 10042168 NGN Million | 27.363 USD Billion 1Q/19
Disposable Personal Income 17580756 NGN Million | 47.904 B USD 1Q/19


Gold Reserves
gold_reserve_icon
21.46
Tonnes
#59 from 114 countries
Foreign Exchange Reserves
gold_reserve_icon
35.52
USD Billion
#44 from 114 countries


Government Budget Value
balance_icon
-0.003
USD Billion
#44 from 113 countries
Inflation Rate
inflation_icon
12.2
%
#15 from 174 countries


Interest Rate
discount_rate_icon
13.5
%
#15 from 159 countries
Bank Lending Rate
credit_rate_icon
N/A%
#N/A from N/A countries


Unemployment Rate
unemployment_icon
23.1
%
#9 from 171 countries
Wages
salary_icon
N/A
N/A
#N/A from N/A countries