Latest: Japan 01:30 BoJ Board Member Suzuki Speaks Forecast: 0
Latest: United States 13:00 Jackson Hole Symposium Forecast: 0
Latest: Switzerland 14:30 SNB Chairman Thomas Jordan speaks Forecast: 0
Latest: Euro Area 10:00 EU Leaders Summit Forecast: 0
Latest: Kenya 14:00 GDP (QoQ) Forecast: 0 % Actual: -1.1%

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 0.11 % 4Q/20
GDP Growth Rate 9.7 % 4Q/20
GDP per capita 2387 USD 2019
Inflation Rate YoY 16.47 % Jan/21
Interest Rate 11.5 % Jan/21
Unemployment Rate 27.1 % 2Q/20
Balance of Trade -830085 NGN Million | -2.183 B USD Sep/20
Current Account -3338 USD Million | -3.338 B USD 3Q/20
Foreign Exchange Reserves 35230 USD Million | 35.23 B USD Feb/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 0.11 % 4Q/20
GDP Growth Rate 9.7 % 4Q/20
GDP per capita 2387 USD 2019
GDP Constant Prices 19753164 NGN Million | 51.937 B USD 4Q/20
GDP per capita PPP 5136 USD 2019
GDP From Agriculture  5268290 NGN Million | 13.852 B USD 4Q/20
GDP From Construction  679255 NGN Million | 1.786 B USD 4Q/20
GDP From Manufacturing  1681421 NGN Million | 4.421 B USD 4Q/20
GDP From Mining  1147138 NGN Million | 3.016 B USD 4Q/20
GDP From Public Administration  435518 NGN Million | 1.145 B USD 4Q/20
GDP From Services  7707177 NGN Million | 20.264 B USD 4Q/20
GDP From Transport  258748 NGN Million | 0.68 B USD 4Q/20
GDP From Utilities  118495 NGN Million | 0.312 B USD 4Q/20


Budget Indicators

Indicator Data Period
Government Debt to GDP 34.98 % 2020
Government Budget Value -1289 NGN Million | -0.003 USD Billion 3Q/20
Government Spending 2339713 NGN Million | 6.152 USD Billion 2Q/20
Government Revenues 842 NGN Billion | 2.214 USD Billion 3Q/20
Fiscal Expenditure  2131 NGN Billion | 5.603 B USD 3Q/20
Government Budget to GDP -3.6 % 2020
Military Expenditure 1907 USD Million | 1.907 B USD 2018


Inflation Indicators

Indicator Data Period
Consumer Price Index (CPI) 361 index points Jan/21
Food Inflation 20.57 % Jan/21
Gasoline Prices 0.46 USD/Liter Feb/21
GDP Deflator 219 index points 3Q/20
Inflation Rate YoY 16.47 % Jan/21
Inflation Rate Mom 1.49 % Jan/21
Core Consumer Prices 316 Index Points Jan/21
Core Inflation Rate 11.85 % Jan/21
CPI Housing Utilities 324 Index Points Jan/21
CPI Transportation 319 Index Points Jan/21


Trade Indicators

Indicator Data Period
Current Account to GDP -3.6 % 2019
Balance of Trade -830085 NGN Million | -2.183 USD Billion Sep/20
Capital Flows 2664 USD Million | 2.664 USD Billion 3Q/20
Current Account -3338 USD Million | -3.338 USD Billion 3Q/20
Exports 896198 NGN Million | 2.356 USD Billion Sep/20
External Debt 31985 USD Million | 31.985 USD Billion 3Q/20
Foreign Exchange Reserves 35230 USD Million | 35.23 USD Billion Feb/21
Imports 1726283 NGN Million | 4.539 USD Billion Sep/20
Terms of Trade  101 Index Points Sep/20


Money Indicators

Indicator Data Period
Gold Reserves 21.46 Tonnes 4Q/20
Interbank Rate 0 % Dec/17
Interest Rate 11.5 % Jan/21
Money Supply M0 2831167 NGN Million | 7.444 USD Billion Jan/21
Money Supply M1 15978957 NGN Million | 42.014 USD Billion Jan/21
Money Supply M2 37745680 NGN Million | 99.245 USD Billion Jan/21
Deposit Interest Rate 2.74 % Dec/20
Foreign Direct Investment 428 USD Million | 0.428 B USD 1Q/20
Private Sector Credit  30558792 NGN Million | 80.348 B USD Jan/21


Labor Indicators

Indicator Data Period
Minimum Wages 30000 NGN/Month | 78.879 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 % 2021


Production Indicators

Indicator Data Period
Crude Oil Production 1382 BBL/D/1K Jan/21
Industrial Production -10.3 % 3Q/20
Mining Production -27.2 % 1Q/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 49.6 index points Dec/20
Manufacturing Production -10.3 % 3Q/20
Services PMI 45.7 index points Dec/20
Competitiveness Index 48.33 Index Points 2019
Competitiveness Rank 116 2019
Composite PMI 52 Index Points Feb/21


Consumer Indicators

Indicator Data Period
Consumer Confidence -14.8 index points 4Q/20
Consumer Spending 10240514 NGN Million | 26.925 USD Billion 2Q/20
Disposable Personal Income 17270558 NGN Million | 45.41 B USD 2Q/20


Gold Reserves
gold_reserve_icon
21.46
Tonnes
#59 from 114 countries
Foreign Exchange Reserves
gold_reserve_icon
35.23
USD Billion
#44 from 114 countries


Government Budget Value
balance_icon
-0.003
USD Billion
#44 from 113 countries
Inflation Rate
inflation_icon
16.47
%
#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