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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 -6.1 % 2Q/20
GDP Growth Rate -14.3 % 1Q/20
GDP per capita 2387 USD 2019
Inflation Rate YoY 13.22 % Aug/20
Interest Rate 12.5 % Aug/20
Unemployment Rate 27.1 % 2Q/20
Balance of Trade -807170 NGN Million | -2.102 B USD Jun/20
Current Account -4882 USD Million | -4.882 B USD 1Q/20
Foreign Exchange Reserves 35660 USD Million | 35.66 B USD Aug/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 -6.1 % 2Q/20
GDP Growth Rate -14.3 % 1Q/20
GDP per capita 2387 USD 2019
GDP Constant Prices 16044514 NGN Million | 41.783 B USD 2Q/20
GDP per capita PPP 5136 USD 2019
GDP From Agriculture  3918668 NGN Million | 10.205 B USD 2Q/20
GDP From Construction  513692 NGN Million | 1.338 B USD 2Q/20
GDP From Manufacturing  1402571 NGN Million | 3.653 B USD 2Q/20
GDP From Mining  1419038 NGN Million | 3.695 B USD 2Q/20
GDP From Public Administration  374512 NGN Million | 0.975 B USD 2Q/20
GDP From Services  6350209 NGN Million | 16.537 B USD 2Q/20
GDP From Transport  118655 NGN Million | 0.309 B USD 2Q/20
GDP From Utilities  117017 NGN Million | 0.305 B USD 2Q/20


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 1082949 NGN Million | 2.82 USD Billion 4Q/19
Government Revenues 939 NGN Billion | 2.445 USD Billion 4Q/19
Fiscal Expenditure  2074 NGN Billion | 5.401 B USD 4Q/19
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) 335 index points Aug/20
Food Inflation 16 % Aug/20
Gasoline Prices 0.38 USD/Liter Aug/20
GDP Deflator 213 index points 1Q/20
Inflation Rate YoY 13.22 % Aug/20
Inflation Rate Mom 1.34 % Aug/20
Core Consumer Prices 300 Index Points Aug/20
Core Inflation Rate 10.5 % Aug/20
CPI Housing Utilities 311 Index Points Aug/20
CPI Transportation 301 Index Points Aug/20


Trade Indicators

Indicator Data Period
Current Account to GDP -3.6 % 2019
Balance of Trade -807170 NGN Million | -2.102 USD Billion Jun/20
Capital Flows -6300 USD Million | -6.3 USD Billion 1Q/20
Current Account -4882 USD Million | -4.882 USD Billion 1Q/20
Exports 782851 NGN Million | 2.039 USD Billion Jun/20
External Debt 31477 USD Million | 31.477 USD Billion 2Q/20
Foreign Exchange Reserves 35660 USD Million | 35.66 USD Billion Aug/20
Imports 1590022 NGN Million | 4.141 USD Billion Jun/20
Terms of Trade  103 Index Points Mar/20


Money Indicators

Indicator Data Period
Gold Reserves 21.5 Tonnes 2Q/20
Interbank Rate 0 % Dec/17
Interest Rate 12.5 % Aug/20
Money Supply M0 2395917 NGN Million | 6.239 USD Billion Aug/20
Money Supply M1 12582151 NGN Million | 32.766 USD Billion Aug/20
Money Supply M2 33346630 NGN Million | 86.84 USD Billion Aug/20
Deposit Interest Rate 4.31 % Jul/20
Foreign Direct Investment 428 USD Million | 0.428 B USD 1Q/20
Private Sector Credit  30189264 NGN Million | 78.618 B USD Aug/20


Labor Indicators

Indicator Data Period
Minimum Wages 30000 NGN/Month | 78.125 USD/Month 2020
Unemployment Rate 27.1 % 2Q/20
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 | 355.869 USD/Month 2018
Living Wage Individual 43200 NGN/Month | 111.726 USD/Month 2018
Unemployed Persons 20928 Thousand Persons | 20.928 Million Persons 3Q/18
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 1361 BBL/D/1K Aug/20
Industrial Production 25.1 % 4Q/19
Mining Production 0.1 % 4Q/19


Business Indicators

Indicator Data Period
Business Confidence 4.3 index points Aug/20
Corruption Index 26 index points 2019
Corruption Rank 146 place 2019
Ease of Doing Business 131 place 2019
Manufacturing PMI 48.5 index points Aug/20
Manufacturing Production -1.9 % 4Q/19
Services PMI 44.7 index points Aug/20
Competitiveness Index 48.33 Index Points 2019
Competitiveness Rank 116 2019
Composite PMI 54.6 Index Points Aug/20


Consumer Indicators

Indicator Data Period
Consumer Confidence -29.2 index points 2Q/20
Consumer Spending 12193024 NGN Million | 31.753 USD Billion 4Q/19
Disposable Personal Income 19718834 NGN Million | 51.351 B USD 4Q/19


Gold Reserves
gold_reserve_icon
21.5
Tonnes
#59 from 114 countries
Foreign Exchange Reserves
gold_reserve_icon
35.66
USD Billion
#44 from 114 countries


Government Budget Value
balance_icon
-0.003
USD Billion
#44 from 113 countries
Inflation Rate
inflation_icon
13.22
%
#15 from 174 countries


Interest Rate
discount_rate_icon
12.5
%
#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