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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 448 USD Billion 2019
GDP Annual Growth Rate -3.62 % 3Q/20
GDP Growth Rate 12.1 % 3Q/20
GDP per capita 2387 USD 2019
Inflation Rate YoY 14.23 % Oct/20
Interest Rate 11.5 % Nov/20
Unemployment Rate 27.1 % 2Q/20
Balance of Trade -807170 NGN Million | -2.121 B USD Jun/20
Current Account -3232 USD Million | -3.232 B USD 2Q/20
Foreign Exchange Reserves 35686 USD Million | 35.686 B USD Oct/20


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 -3.62 % 3Q/20
GDP Growth Rate 12.1 % 3Q/20
GDP per capita 2387 USD 2019
GDP Constant Prices 18109596 NGN Million | 47.588 B USD 3Q/20
GDP per capita PPP 5136 USD 2019
GDP From Agriculture  5484064 NGN Million | 14.411 B USD 3Q/20
GDP From Construction  572977 NGN Million | 1.506 B USD 3Q/20
GDP From Manufacturing  1592209 NGN Million | 4.184 B USD 3Q/20
GDP From Mining  1555772 NGN Million | 4.088 B USD 3Q/20
GDP From Public Administration  380905 NGN Million | 1.001 B USD 3Q/20
GDP From Services  6112207 NGN Million | 16.062 B USD 3Q/20
GDP From Transport  149282 NGN Million | 0.392 B USD 3Q/20
GDP From Utilities  94533 NGN Million | 0.248 B USD 3Q/20


Budget Indicators

Indicator Data Period
Government Debt to GDP 29.1 % 2019
Government Budget Value -1463 NGN Million | -0.004 USD Billion 1Q/20
Government Spending 1082949 NGN Million | 2.846 USD Billion 4Q/19
Government Revenues 865 NGN Billion | 2.273 USD Billion 1Q/20
Fiscal Expenditure  2328 NGN Billion | 6.118 B USD 1Q/20
Government Budget to GDP -3.4 % 2019
Military Expenditure 1907 USD Million | 1.907 B USD 2018


Inflation Indicators

Indicator Data Period
Consumer Price Index (CPI) 345 index points Oct/20
Food Inflation 17.38 % Oct/20
Gasoline Prices 0.46 USD/Liter Nov/20
GDP Deflator 214 index points 2Q/20
Inflation Rate YoY 14.23 % Oct/20
Inflation Rate Mom 1.48 % Sep/20
Core Consumer Prices 307 Index Points Oct/20
Core Inflation Rate 11.1 % Oct/20
CPI Housing Utilities 316 Index Points Oct/20
CPI Transportation 308 Index Points Oct/20


Trade Indicators

Indicator Data Period
Current Account to GDP -3.6 % 2019
Balance of Trade -807170 NGN Million | -2.121 USD Billion Jun/20
Capital Flows 4146 USD Million | 4.146 USD Billion 2Q/20
Current Account -3232 USD Million | -3.232 USD Billion 2Q/20
Exports 782851 NGN Million | 2.057 USD Billion Jun/20
External Debt 31477 USD Million | 31.477 USD Billion 2Q/20
Foreign Exchange Reserves 35686 USD Million | 35.686 USD Billion Oct/20
Imports 1590022 NGN Million | 4.178 USD Billion Jun/20
Terms of Trade  103 Index Points Mar/20


Money Indicators

Indicator Data Period
Gold Reserves 21.46 Tonnes 3Q/20
Interbank Rate 0 % Dec/17
Interest Rate 11.5 % Nov/20
Money Supply M0 2498978 NGN Million | 6.567 USD Billion Oct/20
Money Supply M1 14166856 NGN Million | 37.228 USD Billion Oct/20
Money Supply M2 35690620 NGN Million | 93.788 USD Billion Oct/20
Deposit Interest Rate 4.05 % Aug/20
Foreign Direct Investment 428 USD Million | 0.428 B USD 1Q/20
Private Sector Credit  29058814 NGN Million | 76.361 B USD Oct/20


Labor Indicators

Indicator Data Period
Minimum Wages 30000 NGN/Month | 78.834 USD/Month 2020
Unemployment Rate 27.1 % 2Q/20
Youth Unemployment Rate 36.5 % 3Q/18
Employed Persons 58527 Thousand Person | 58.527 Million Person 2Q/20
Employment Rate  76.9 % 3Q/18
Living Wage Family 137600 NGN/Month | 355.869 USD/Month 2018
Living Wage Individual 43200 NGN/Month | 111.726 USD/Month 2018
Unemployed Persons 21765 Thousand Persons | 21.765 Million Persons 2Q/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 % 2020
Personal Income Tax Rate 24 % 2020
Sales Tax Rate 7.5 % 2020


Production Indicators

Indicator Data Period
Crude Oil Production 1310 BBL/D/1K Sep/20
Industrial Production -10 % 1Q/20
Mining Production -27.2 % 1Q/20


Business Indicators

Indicator Data Period
Business Confidence -1.5 index points Oct/20
Corruption Index 26 index points 2019
Corruption Rank 146 place 2019
Ease of Doing Business 131 place 2019
Manufacturing PMI 50.2 index points Nov/20
Manufacturing Production -1.2 % 1Q/20
Services PMI 47.6 index points Nov/20
Competitiveness Index 48.33 Index Points 2019
Competitiveness Rank 116 2019
Composite PMI 50.9 Index Points Nov/20


Consumer Indicators

Indicator Data Period
Consumer Confidence -21.2 index points 3Q/20
Consumer Spending 12193024 NGN Million | 32.041 USD Billion 4Q/19
Disposable Personal Income 19718834 NGN Million | 51.817 B USD 4Q/19


Gold Reserves
gold_reserve_icon
21.46
Tonnes
#59 from 114 countries
Foreign Exchange Reserves
gold_reserve_icon
35.686
USD Billion
#44 from 114 countries


Government Budget Value
balance_icon
-0.004
USD Billion
#44 from 113 countries
Inflation Rate
inflation_icon
14.23
%
#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
27.1
%
#9 from 171 countries
Wages
salary_icon
N/A
N/A
#N/A from N/A countries