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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 432 USD Billion 2020
GDP Annual Growth Rate 0.51 % 1Q/21
GDP Growth Rate -13.9 % 1Q/21
GDP per capita 2273 USD 2020
Inflation Rate YoY 17.75 % Jun/21
Interest Rate 11.5 % May/21
Unemployment Rate 33.3 % 4Q/20
Balance of Trade -1123290 NGN Million | -2.73 B USD Mar/21
Current Account -1751 USD Million | -1.751 B USD 1Q/21
Foreign Exchange Reserves 33420 USD Million | 33.42 B USD Jun/21


GDP
vvp
432
USD Billion
#34 from 174 countries
GDP per capita
vvp
2273
USD
#121 from 169 countries


GDP Indicators

Indicator Data Period
GDP Value 432 USD Billion 2020
GDP Annual Growth Rate 0.51 % 1Q/21
GDP Growth Rate -13.9 % 1Q/21
GDP per capita 2273 USD 2020
GDP Constant Prices 16826890 NGN Million | 40.89 B USD 1Q/21
GDP per capita PPP 4917 USD 2020
GDP From Agriculture  3760881 NGN Million | 9.139 B USD 1Q/21
GDP From Construction  692521 NGN Million | 1.683 B USD 1Q/21
GDP From Manufacturing  1670394 NGN Million | 4.059 B USD 1Q/21
GDP From Mining  1556074 NGN Million | 3.781 B USD 1Q/21
GDP From Public Administration  278241 NGN Million | 0.676 B USD 1Q/21
GDP From Services  6836847 NGN Million | 16.614 B USD 1Q/21
GDP From Transport  231805 NGN Million | 0.563 B USD 1Q/21
GDP From Utilities  394016 NGN Million | 0.957 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 | 3.426 USD Billion 4Q/20
Government Revenues 904 NGN Billion | 2.197 USD Billion 4Q/20
Fiscal Expenditure  2387 NGN Billion | 5.8 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) 384 index points Jun/21
Food Inflation 21.83 % Jun/21
Gasoline Prices 0.43 USD/Liter Jun/21
GDP Deflator 224 index points 4Q/20
Inflation Rate YoY 17.75 % Jun/21
Inflation Rate Mom 1.06 % Jun/21
Core Consumer Prices 334 Index Points Jun/21
Core Inflation Rate 13.09 % Jun/21
CPI Housing Utilities 337 Index Points Jun/21
CPI Transportation 338 Index Points Jun/21


Trade Indicators

Indicator Data Period
Current Account to GDP -4.2 % 2020
Balance of Trade -1123290 NGN Million | -2.73 USD Billion Mar/21
Capital Flows 7887 USD Million | 7.887 USD Billion 1Q/21
Current Account -1751 USD Million | -1.751 USD Billion 1Q/21
Exports 1070267 NGN Million | 2.601 USD Billion Mar/21
External Debt 32860 USD Million | 32.86 USD Billion 1Q/21
Foreign Exchange Reserves 33420 USD Million | 33.42 USD Billion Jun/21
Imports 2193557 NGN Million | 5.33 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 2790896 NGN Million | 6.782 USD Billion May/21
Money Supply M1 16278041 NGN Million | 39.556 USD Billion May/21
Money Supply M2 38849024 NGN Million | 94.404 USD Billion May/21
Deposit Interest Rate 3.05 % Mar/21
Foreign Direct Investment 2138 USD Million | 2.138 B USD 1Q/21
Private Sector Credit  32198242 NGN Million | 78.242 B USD May/21


Labor Indicators

Indicator Data Period
Minimum Wages 30000 NGN/Month | 72.9 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 1313 BBL/D/1K Jun/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 53.6 Index Points Jun/21


Consumer Indicators

Indicator Data Period
Consumer Confidence -14.8 index points 4Q/20
Consumer Spending 14347659 NGN Million | 34.865 USD Billion 4Q/20
Disposable Personal Income 20329672 NGN Million | 49.401 B USD 4Q/20


Gold Reserves
gold_reserve_icon
21.46
Tonnes
#59 from 114 countries
Foreign Exchange Reserves
gold_reserve_icon
33.42
USD Billion
#44 from 114 countries


Government Budget Value
balance_icon
-0.004
USD Billion
#44 from 113 countries
Inflation Rate
inflation_icon
17.75
%
#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