Skip to content

Economy of Angola vs Nigeria compared: GDP & Debt

Updated on by Georank team

Angola has a GDP of $101B compared to $252B for Nigeria, ranking 71/197 and 54/197 by economy size, respectively.

Angola has $60.5B in government debt (59.9% of GDP), compared to $99.2B (39.3% of GDP) in Nigeria.

Angola vs Nigeria GDP by year

Angola
Nigeria
1x
Year GDP, current $
Angola Nigeria
2024 $100,998,916,781 $252,261,880,141
2023 $107,167,747,140 $487,387,801,881
2022 $131,212,208,930 $646,950,257,578
2021 $79,559,543,805 $609,147,716,973
2020 $58,852,456,454 $598,586,817,819
2019 $80,734,428,593 $668,219,992,691
2018 $89,512,794,227 $421,739,251,509
2017 $84,376,935,689 $375,745,731,053
2016 $59,878,249,719 $404,649,125,252
2015 $102,543,067,841 $493,026,682,801
2014 $153,449,860,496 $574,183,763,412
2013 $148,845,200,697 $520,117,180,314
2012 $143,572,907,528 $463,971,018,239
2011 $125,551,634,704 $414,466,676,831
2010 $95,546,919,755 $366,990,417,129
2009 $81,705,175,408 $295,008,835,381
2008 $98,790,432,989 $339,476,276,258
2007 $73,037,821,927 $278,260,846,800
2006 $58,653,659,980 $238,454,997,161
2005 $41,396,636,383 $175,670,569,969
2004 $26,997,977,897 $135,764,731,646
2003 $20,342,128,112 $104,738,954,264
2002 $17,311,512,432 $95,054,059,303
2001 $8,936,079,118 $73,557,840,064
2000 $9,129,594,970 $69,171,451,627
1999 $6,152,923,310 $59,145,077,039
1998 $6,506,221,616 $218,416,200,673
1997 $7,648,380,196 $200,850,397,618
1996 $7,526,421,519 $185,730,236,700
1995 $5,538,749,260 $140,919,776,986
1994 $4,438,321,017 $80,399,613,064
1993 $5,768,720,422 $56,721,051,402
1992 $8,307,810,974 $52,058,181,854
1991 $10,603,784,541 $59,526,833,412
1990 $11,229,515,599 $54,035,795,388
1989 $10,201,780,977 $44,003,061,108
1988 $8,769,836,769 $49,648,470,440
1987 $8,084,412,414 $52,676,041,931
1986 $7,072,536,109 $54,805,852,581
1985 $7,554,065,410 $73,745,821,158
1984 $6,131,475,065 $73,484,359,521
1983 $5,784,341,596 $97,094,911,792
1982 $5,550,483,036 $142,769,363,314
1981 $5,550,483,036 $164,475,209,516
1980 $5,930,503,401 $64,201,788,123
1979 - $47,259,911,894
1978 - $36,527,862,209
1977 - $36,035,407,725
1976 - $36,308,883,249
1975 - $27,778,934,625
1974 - $24,846,641,318
1973 - $15,162,871,287
1972 - $12,274,416,018
1971 - $9,181,769,912
1970 - $12,546,094,982
1969 - $6,634,317,346
1968 - $5,200,997,920
1967 - $5,203,237,919
1966 - $6,366,917,453
1965 - $5,874,537,650
1964 - $5,552,931,319
1963 - $5,165,590,254
1962 - $4,909,399,176
1961 - $4,467,287,893
1960 - $4,196,174,502

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/angola/nigeria | CC BY

GDP per capita in Angola vs Nigeria by year

Angola
GDP per capita

GDP per capita, PPP
Nigeria
GDP per capita

GDP per capita, PPP
1x
Year Current $
Angola Nigeria
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $2,666 $10,119 $1,084 $9,087
2023 $2,916 $9,754 $2,139 $8,705
2022 $3,682 $9,588 $2,899 $8,305
2021 $2,304 $8,862 $2,787 $7,588
2020 $1,759 $7,827 $2,797 $7,415
2019 $2,494 $8,573 $3,190 $7,551
2018 $2,860 $8,278 $2,058 $7,158
2017 $2,791 $8,007 $1,876 $7,037
2016 $2,052 $7,767 $2,070 $7,072
2015 $3,642 $8,067 $2,586 $7,308
2014 $5,650 $9,018 $3,089 $7,396
2013 $5,689 $8,504 $2,873 $7,004
2012 $5,702 $8,246 $2,633 $6,671
2011 $5,184 $7,538 $2,418 $6,585
2010 $4,102 $7,412 $2,202 $6,301
2009 $3,645 $7,228 $1,820 $5,927
2008 $4,578 $7,316 $2,154 $5,607
2007 $3,515 $6,728 $1,816 $5,298
2006 $2,930 $6,018 $1,600 $4,975
2005 $2,146 $5,416 $1,211 $4,678
2004 $1,451 $4,771 $962 $4,381
2003 $1,134 $4,322 $763 $4,015
2002 $999 $4,241 $712 $3,770
2001 $534 $3,802 $566 $3,309
2000 $564 $3,690 $547 $3,139
1999 $393 $3,619 $481 $3,002
1998 $429 $3,609 $1,822 $3,022
1997 $522 $3,525 $1,720 $2,990
1996 $531 $3,342 $1,633 $2,931
1995 $404 $2,990 $1,272 $2,835
1994 $335 $2,633 $745 $2,853
1993 $450 $2,628 $540 $2,921
1992 $669 $3,486 $509 $2,991
1991 $882 $3,740 $597 $2,870
1990 $966 $3,705 $556 $2,840
1989 $908 - $465 -
1988 $807 - $540 -
1987 $770 - $588 -
1986 $698 - $628 -
1985 $772 - $869 -
1984 $650 - $890 -
1983 $637 - $1,207 -
1982 $634 - $1,822 -
1981 $658 - $2,162 -
1980 $729 - $870 -
1979 - - $661 -
1978 - - $527 -
1977 - - $536 -
1976 - - $556 -
1975 - - $438 -
1974 - - $403 -
1973 - - $252.4 -
1972 - - $209.5 -
1971 - - $160.5 -
1970 - - $224.5 -
1969 - - $121.4 -
1968 - - $97.3 -
1967 - - $99.5 -
1966 - - $124.4 -
1965 - - $117.3 -
1964 - - $113.3 -
1963 - - $107.7 -
1962 - - $104.5 -
1961 - - $97.1 -
1960 - - $93.1 -

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/angola/nigeria | CC BY

Angola's GDP per capita is $2,666, ranking 144/197, compared to $1,084 in Nigeria, ranking 174/197. Adjusted for purchasing power (GDP per capita PPP), Angola ranks 133rd at $10,119, while Nigeria ranks 136th at $9,087.

Economic indicators

Angola Nigeria
Gross domestic product
$101B
2024
$252B
2024
GDP rank
71/197
2024
54/197
2024
GDP growth
4.42%
2023-2024
4.06%
2023-2024
GDP per capita
$2,666
2024
$1,084
2024
GDP per capita rank
144/197
2024
174/197
2024
GDP per capita, PPP
$10,119
2024
$9,087
2024
GDP per capita PPP rank
133/197
2024
136/197
2024
Government debt
$60.5B
2024
$99.2B
2024
Debt-to-GDP ratio
59.9%
2024
39.3%
2024
Government debt per person
$1,597
2024
$426
2024
Government debt per person rank
127/185
2024
170/185
2024
Average annual personal income after taxes
$28,080
2026
$1,104
2026
Market capitalization of domestic companies n/a
$54.4B
2024
Number of billionaires n/a
4
2025
Income share by richest 10%
39.6%
2018
26.3%
2022
Income share by poorest 10%
1.3%
2018
3%
2022
Government expenditure, % of GDP
18.4%
2024
12.3%
2024
Consumer prices inflation
28.2%
2023-2024
33.2%
2023-2024
Central bank interest rate
18%
2023
27%
2025
Unemployment rate
14.1%
2022
3.45%
2024
Population
40555924
243824469

Spending and national debt comparison by year

Angola
Spending

Debt
Nigeria
Spending

Debt
1x
Year % of GDP
Angola Nigeria
Government spending Government debt Government spending Government debt
2024 18.4% 59.9% 12.3% 39.3%
2023 18.8% 72.4% 10.4% 36.3%
2022 19.5% 56.1% 10.6% 29.8%
2021 17.3% 74.3% 9.09% 26.6%
2020 20% 119.1% 8.73% 25.7%
2019 18.2% 101.4% 8.87% 21.4%
2018 18.3% 82.5% 9.1% 20.4%
2017 21% 60.5% 8.51% 18%
2016 19.4% 66.7% 6.93% 17.4%
2015 23.9% 50.4% 7.85% 14.9%
2014 32.3% 35.3% 9.49% 12.9%
2013 32.9% 29.5% 10% 13%
2012 33.2% 23.8% 10.5% 12.5%
2011 33.3% 26.3% 12.3% 12.4%
2010 34.6% 32.6% 11.8% 6.67%
2009 38.7% 48.4% 11% 6.12%
2008 47.2% 28.1% 10.2% 5.17%
2007 34.1% 18.8% 12.9% 5.76%
2006 27.3% 16.7% 8.75% 6.68%
2005 23.7% 29.9% 12.6% 13.4%
2004 26% 41.6% 13% 25.2%
2003 30.1% 50.8% 16.5% 29.9%
2002 27.6% 65.1% 13.8% 30.7%
2001 30.3% 100.2% 21.9% 37.7%
2000 35.8% 118.2% 17.6% 40.9%
1999 39.4% 104.8% 14.9% 46.1%
1998 26.1% 96.3% 11.2% 15.8%
1997 26.8% 73.5% 9.68% 17.1%
1996 25.2% 92% 7.87% 17.9%
1995 - - 8.87% 24.2%
1994 - - 12.1% 39.7%
1993 - - 20% 50.4%
1992 - - 15.9% 49.8%
1991 - - 13.6% 53.2%
1990 - - 14.2% 50.9%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1996–1999, retrieved 2026-02-20).

GeoRank.org/economy/angola/nigeria | CC BY

In 2024, Angola's government spending was $18.6B, accounting for 18.4% of its GDP, while Nigeria spent $31.1B, or 12.3% of GDP.

Debt-to-GDP ratio is 59.9% in Angola and 39.3% in Nigeria, ranking 78/185 and 135/185, respectively.

Government deficit by year

Deficit/surplus
Angola

Nigeria
1x
Year Deficit/surplus, % of GDP
Angola Nigeria
2024 -1.01% -1.57%
2023 -1.83% -3.12%
2022 0.58% -4%
2021 3.4% -3.97%
2020 -1.66% -4.03%
2019 0.69% -3.31%
2018 2.03% -3.06%
2017 -5.75% -3.85%
2016 -3.98% -3.3%
2015 -2.57% -2.7%
2014 -5.07% -1.72%
2013 -0.27% -1.89%
2012 3.68% -0.09%
2011 7.2% 0.31%
2010 2.98% -2.96%
2009 -6.8% -3.78%
2008 -3.8% 4.05%
2007 3.85% -0.79%
2006 8.42% 6.22%
2005 6.4% 3.49%
2004 1.03% 3.9%
2003 -4.1% -1.56%
2002 -2.24% 0.95%
2001 2.8% -2.29%
2000 2.02% 2.89%
1999 -8.1% -1.39%
1998 -5.1% -3.47%
1997 -0.23% 1.14%
1996 4.49% 3.37%
1995 - 2.52%
1994 - -2.96%
1993 - -6.07%
1992 - 0.94%
1991 - -1.18%
1990 - -0.48%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20).

GeoRank.org/economy/angola/nigeria | CC BY

In 2024, Angola's government deficit, the difference between spending and revenue, was $1.02B, equivalent to 1.01% of GDP. This compares to Nigeria's deficit of $3.95B, or 1.57% of GDP.

Over the past 29 years, Angola recorded a fiscal deficit in 15 of those years, while Nigeria ran a deficit in 20 years. On average, Angola posted an annual deficit equal to 0.1% of GDP, compared to deficit of 0.92% of GDP for Nigeria.

Inflation comparison by year

Inflation
Angola

Nigeria
1x
Year Consumer prices inflation
Angola Nigeria
2024 28.2% 33.2%
2023 13.6% 24.7%
2022 21.4% 18.8%
2021 25.8% 17%
2020 22.3% 13.2%
2019 17.1% 11.4%
2018 19.6% 12.1%
2017 29.8% 16.5%
2016 30.7% 15.7%
2015 9.2% 9.01%
2014 7.3% 8.05%
2013 8.8% 8.5%
2012 10.3% 12.2%
2011 13.5% 10.8%
2010 14.5% 13.7%
2009 13.7% 12.5%
2008 12.5% 11.6%
2007 12.2% 5.39%
2006 13.3% 8.23%
2005 23% 17.9%
2004 43.5% 15%
2003 98.2% 14%
2002 108.9% 12.9%
2001 152.6% 18.9%
2000 325% 6.93%
1999 248.2% 6.62%
1998 107.4% 10%
1997 221.5% 8.53%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2024, retrieved 2026-02-20); World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06).

GeoRank.org/economy/angola/nigeria | CC BY

Over the past 28 years, Angola has recorded an average annual inflation rate of 59%, compared with 13.3% in Nigeria. In 2024, inflation was 28.2% in Angola and 33.2% in Nigeria.

Top exports between countries

Angola
Export category Export value
Machinery & equipment $27M
Metals $1.58M
Animal & marine products $300K
Chemicals & pharma $104K
Raw materials & minerals $61K
Textiles & consumer goods $49K
Wood & paper products $12K
Miscellaneous $7K
Precious metals & jewellery $3K
Processed food, beverages & tobacco $2K
Nigeria
Export category Export value
Raw agricultural goods $3.6M
Chemicals & pharma $1.6M
Machinery & equipment $1.13M
Metals $526K
Processed food, beverages & tobacco $146K
Textiles & consumer goods $120K

Balance of trade

Angola Nigeria
Current account balance
$6.31B
2024
$17.2B
2024
Current account balance ranking
30/190
2024
20/190
2024
Current account balance, % of GDP
+6.25%
2024
+6.82%
2024
Goods imports
$14.2B
2024
$39.8B
2024
Goods exports
$36.8B
2024
$53B
2024
Service imports
$8.49B
2024
$17.9B
2024
Service exports
$129M
2024
$4.57B
2024
Imports of goods and services, % of GDP
19.4%
2024
16.9%
1960
Exports of goods and services, % of GDP
31.5%
2024
9.24%
1960

Economic freedom indices

The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.

Angola Nigeria
Economic freedom 54.4 54.8
Economic freedom ranking 133/197 132/197
Property rights 36.9 29.7
Government integrity 28.3 23.5
Judicial effectiveness 26.3 34.4
Tax burden 86.9 84.6
Government spending 89.3 96.3
Fiscal health 91.9 83.5
Business freedom 42.8 50.3
Labor freedom 50.8 75.4
Monetary freedom 59 56.1
Trade freedom 70.4 64.4
Investment freedom 30 30
Financial freedom 40 30

Economic freedom comparison by year

Angola
Nigeria
1x
Year Economic freedom index
Angola Nigeria
2026 54.4 54.8
2025 55 53.4
2024 54.3 53.1
2023 53 53.9
2022 52.6 54.4
2021 54.2 58.7
2020 52.2 57.2
2019 50.6 57.3
2018 48.6 58.5
2017 48.5 57.1
2016 48.9 57.5
2015 47.9 55.6
2014 47.7 54.3
2013 47.3 55.1
2012 46.7 56.3
2011 46.2 56.7
2010 48.4 56.8
2009 47 55.1
2008 46.9 55.1
2007 44.7 55.6
2006 43.5 48.7
2005 - 48.4
2004 - 49.2
2003 - 49.5
2002 - 50.9
2001 - 49.6
2000 24.3 53.1
1999 23.7 55.7
1998 24.9 52.3
1997 24.2 52.8
1996 24.4 47.4
1995 27.4 47.3

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09).

GeoRank.org/economy/angola/nigeria | CC BY

The Economic Freedom Index for Angola is 54.4, ranking 133/197, compared to 54.8 for Nigeria, ranking 132/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Angola Nigeria
Services, % of GDP
41.1%
2024
53.7%
2024
Industry, % of GDP
34.6%
2024
18.2%
2024
Agriculture, forestry, and fishing, % of GDP
22.1%
2024
25.9%
2024
GNI, Atlas method
$108B
2024
$396B
2024
GNI per capita, PPP
$9,460
2024
$8,850
2024
Total reserves including gold
$14.2B
2024
$38.6B
2024
Total reserves ranking
69/177
2024
51/177
2024
Net foreign direct investment
$1.14B
2024
-$672M
2024
Net inflows of foreign direct investment
-$1.11B
2024
$1.08B
2024
Net outflows of foreign direct investment
$33.1M
2024
$408M
2024
Servicing debt to the IMF, % of GNI
11.5%
2024
5.48%
2024
Poverty at national poverty lines
36.6%
2020
56.2%
2023
Gross capital formation, % of GDP
10.4%
2024
n/a

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2024, retrieved 2026-04-06); U.S. Census Bureau (1985–2024, retrieved 2026-02-08).

GeoRank.org/economy/angola/nigeria | CC BY

Compare countries by 7 more topics

Help us show the world through your eyes

Share a photo of your city and help others discover what it looks like to live there. Your contribution makes our data come alive.

Data sources:

  1. World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20)
  3. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09)
  4. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  5. TradeMap (2023–2024, retrieved 2026-02-08)
  6. International Monetary Fund (IMF) | Public Finances in Modern History (1996–1999, retrieved 2026-02-20)
  7. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  8. LivingCost (2026, retrieved 2025-10-14)
  9. Central Intelligence Agency (CIA) (2020, retrieved 2026-02-20)

Creative Commons Attribution (CC BY) — you’re free to copy, share, remix, adapt, and use even commercially as long as you give appropriate credit and clearly indicate if you made changes. Other sources may be subject to different license terms.

The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.

Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.

A negative value for Net Foreign Direct Investment indicates a country is a net receiver of investments, as foreign inflows exceed outflows after Balance of Payments adjustments. A positive value indicates a net provider, with outflows exceeding inflows. Inflows are credits (increasing foreign claims on domestic assets), while outflows are debits (increasing domestic assets abroad).

Foreign direct investment (FDI, net inflows) shows how much capital foreign investors bring into a country after accounting for any funds that flow back in the opposite direction. It represents the net value of overseas companies establishing, expanding, or financing businesses in the reporting country. A positive number means more capital entered the country than was withdrawn, while a negative number means foreign investors pulled out more than they invested.

Foreign direct investment (FDI, net outflows) shows how much capital residents of a country invest abroad after accounting for any funds that flow back in the opposite direction. It represents the net value of domestic companies establishing, expanding, or financing businesses in other countries. A positive number means more capital was invested abroad than withdrawn, while a negative number means residents pulled back more than they invested.

Principal and interest payments to the IMF in currency, goods, or services on long-term debt expressed as a share of GNI.

Formerly gross domestic investment, gross capital formation measures the share of a country’s economic output invested in fixed assets, including buildings, machinery, and infrastructure. It indicates how much of the economy is devoted to building productive capacity.