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Economy of Nigeria. Statistics, Data and Indicators

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


Nigeria Major Economic Indicators

Indicator Data Period
GDP Value 448 USD Billion 2019
GDP Annual Growth Rate 0.51 % 1Q/21
GDP Growth Rate -13.9 % 1Q/21
GDP per capita 2387 USD 2019
Inflation Rate YoY 18.12 % Apr/21
Interest Rate 11.5 % May/21
Unemployment Rate 33.3 % 4Q/20
Balance of Trade -1123290 NGN Million | -2.733 B USD Mar/21
Current Account -5265 USD Million | -5.265 B USD 4Q/20
Foreign Exchange Reserves 34250 USD Million | 34.25 B USD May/21


GDP
vvp
448
USD Billion
#34 from 174 countries
GDP per capita
vvp
2387
USD
#121 from 169 countries


GDP Indicators

Indicator Data Period
GDP Value 448 USD Billion 2019
GDP Annual Growth Rate 0.51 % 1Q/21
GDP Growth Rate -13.9 % 1Q/21
GDP per capita 2387 USD 2019
GDP Constant Prices 16826890 NGN Million | 40.943 B USD 1Q/21
GDP per capita PPP 5136 USD 2019
GDP From Agriculture  3760881 NGN Million | 9.151 B USD 1Q/21
GDP From Construction  692521 NGN Million | 1.685 B USD 1Q/21
GDP From Manufacturing  1670394 NGN Million | 4.064 B USD 1Q/21
GDP From Mining  1556074 NGN Million | 3.786 B USD 1Q/21
GDP From Public Administration  278241 NGN Million | 0.677 B USD 1Q/21
GDP From Services  6836847 NGN Million | 16.635 B USD 1Q/21
GDP From Transport  231805 NGN Million | 0.564 B USD 1Q/21
GDP From Utilities  394016 NGN Million | 0.959 B USD 1Q/21


Budget Indicators

Indicator Data Period
Government Debt to GDP 34.98 % 2020
Government Budget Value -1484 NGN Million | -0.004 USD Billion 4Q/20
Government Spending 1409721 NGN Million | 3.43 USD Billion 4Q/20
Government Revenues 904 NGN Billion | 2.2 USD Billion 4Q/20
Fiscal Expenditure  2387 NGN Billion | 5.808 B USD 4Q/20
Government Budget to GDP -3.8 % 2020
Military Expenditure 2403 USD Million | 2.403 B USD 2020


Inflation Indicators

Indicator Data Period
Consumer Price Index (CPI) 376 index points Apr/21
Food Inflation 22.72 % Apr/21
Gasoline Prices 0.4 USD/Liter May/21
GDP Deflator 224 index points 4Q/20
Inflation Rate YoY 18.12 % Apr/21
Inflation Rate Mom 0.97 % Apr/21
Core Consumer Prices 327 Index Points Apr/21
Core Inflation Rate 12.7 % Apr/21
CPI Housing Utilities 332 Index Points Apr/21
CPI Transportation 331 Index Points Apr/21


Trade Indicators

Indicator Data Period
Current Account to GDP -4.2 % 2020
Balance of Trade -1123290 NGN Million | -2.733 USD Billion Mar/21
Capital Flows -3372 USD Million | -3.372 USD Billion 4Q/20
Current Account -5265 USD Million | -5.265 USD Billion 4Q/20
Exports 1070267 NGN Million | 2.604 USD Billion Mar/21
External Debt 33348 USD Million | 33.348 USD Billion 4Q/20
Foreign Exchange Reserves 34250 USD Million | 34.25 USD Billion May/21
Imports 2193557 NGN Million | 5.337 USD Billion Mar/21
Terms of Trade  100 Index Points Dec/20


Money Indicators

Indicator Data Period
Gold Reserves 21.46 Tonnes 1Q/21
Interbank Rate 0 % Dec/17
Interest Rate 11.5 % May/21
Money Supply M0 2796471 NGN Million | 6.804 USD Billion Apr/21
Money Supply M1 15996570 NGN Million | 38.923 USD Billion Apr/21
Money Supply M2 38382884 NGN Million | 93.393 USD Billion Apr/21
Deposit Interest Rate 3.05 % Mar/21
Foreign Direct Investment 439 USD Million | 0.439 B USD 4Q/20
Private Sector Credit  31822920 NGN Million | 77.432 B USD Apr/21


Labor Indicators

Indicator Data Period
Minimum Wages 30000 NGN/Month | 72.996 USD/Month 2021
Unemployment Rate 33.3 % 4Q/20
Youth Unemployment Rate 53.4 % 4Q/20
Employed Persons 58527 Thousand Person | 58.527 Million Person 2Q/20
Employment Rate  66.7 % 4Q/20
Living Wage Family 137600 NGN/Month | 355.869 USD/Month 2018
Living Wage Individual 43200 NGN/Month | 111.726 USD/Month 2018
Unemployed Persons 23187 Thousand Persons | 23.187 Million Persons 4Q/20
Wages High Skilled 57200 NGN/Month | 147.934 USD/Month 2018
Wages Low Skilled  25500 NGN/Month | 65.949 USD/Month 2018


Taxes

Indicator Data Period
Corporate Tax Rate 30 % 2021
Personal Income Tax Rate 24 % 2021
Sales Tax Rate 7.5 % 2021


Production Indicators

Indicator Data Period
Crude Oil Production 1344 BBL/D/1K May/21
Industrial Production 1.6 % 4Q/20
Mining Production 9.2 % 4Q/20


Business Indicators

Indicator Data Period
Business Confidence -15.2 index points Dec/20
Corruption Index 25 index points 2020
Corruption Rank 149 place 2020
Ease of Doing Business 131 place 2019
Manufacturing PMI 49 index points Apr/21
Manufacturing Production -1.3 % 4Q/20
Services PMI 47.3 index points Apr/21
Competitiveness Index 48.33 Index Points 2019
Competitiveness Rank 116 2019
Composite PMI 54.4 Index Points May/21


Consumer Indicators

Indicator Data Period
Consumer Confidence -14.8 index points 4Q/20
Consumer Spending 14347659 NGN Million | 34.911 USD Billion 4Q/20
Disposable Personal Income 20329672 NGN Million | 49.466 B USD 4Q/20


Gold Reserves
gold_reserve_icon
21.46
Tonnes
#59 from 114 countries
Foreign Exchange Reserves
gold_reserve_icon
34.25
USD Billion
#44 from 114 countries


Government Budget Value
balance_icon
-0.004
USD Billion
#44 from 113 countries
Inflation Rate
inflation_icon
18.12
%
#15 from 174 countries


Interest Rate
discount_rate_icon
11.5
%
#15 from 159 countries
Bank Lending Rate
credit_rate_icon
N/A%
#N/A from N/A countries


Unemployment Rate
unemployment_icon
33.3
%
#9 from 171 countries
Wages
salary_icon
N/A
N/A
#N/A from N/A countries