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Economy of Azerbaijan vs Nigeria compared: GDP & Debt

Updated on by Georank

Azerbaijan has a GDP of $75.9B compared to $291B for Nigeria, ranking 87/197 and 50/197 by economy size, respectively.

Azerbaijan has $15.3B in government debt (20.1% of GDP), compared to $103B (35.5% of GDP) in Nigeria.

Azerbaijan vs Nigeria GDP by year

Azerbaijan
Nigeria
1x
Year GDP, current $
Azerbaijan Nigeria
2025 $75,937,647,059 $290,794,361,542
2024 $74,426,000,000 $252,261,880,140
2023 $72,428,470,588 $487,387,801,878
2022 $78,807,470,588 $646,950,257,575
2021 $54,825,411,765 $609,147,716,965
2020 $42,693,000,000 $598,586,817,817
2019 $48,174,235,294 $668,219,992,687
2018 $47,112,470,052 $421,739,251,509
2017 $40,866,627,352 $375,745,731,053
2016 $37,866,996,883 $404,649,125,252
2015 $53,076,235,355 $493,026,682,801
2014 $75,239,785,452 $574,183,763,412
2013 $74,160,560,124 $520,117,180,314
2012 $69,679,944,504 $463,971,018,239
2011 $65,952,796,428 $414,466,676,831
2010 $52,909,294,792 $366,990,417,129
2009 $44,292,427,185 $295,008,835,381
2008 $48,851,293,785 $339,476,276,258
2007 $33,049,419,431 $278,260,846,800
2006 $20,981,929,498 $238,454,997,161
2005 $13,245,421,881 $175,670,569,969
2004 $8,680,405,741 $135,764,731,646
2003 $7,276,413,079 $104,738,954,264
2002 $6,236,087,738 $95,054,059,303
2001 $5,707,616,204 $73,557,840,064
2000 $5,272,615,723 $69,171,451,627
1999 $4,581,248,567 $59,145,077,039
1998 $4,446,368,571 $218,416,200,673
1997 $3,962,362,387 $200,850,397,618
1996 $3,176,507,376 $185,730,236,700
1995 $2,417,331,193 $140,919,776,986
1994 $1,193,141,110 $80,399,613,064
1993 $1,570,392,598 $56,721,051,402
1992 $444,658,672 $52,058,181,854
1991 $5,344,000,000 $59,526,833,412
1990 $8,884,848,485 $54,035,795,388
1989 - $44,003,061,108
1988 - $49,648,470,440
1987 - $52,676,041,931
1986 - $54,805,852,581
1985 - $73,745,821,158
1984 - $73,484,359,521
1983 - $97,094,911,792
1982 - $142,769,363,314
1981 - $164,475,209,516
1980 - $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 (1960–2025, retrieved 2026-07-08).

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

GDP per capita in Azerbaijan vs Nigeria by year

Azerbaijan
GDP per capita

GDP per capita, PPP
Nigeria
GDP per capita

GDP per capita, PPP
1x
Year Current $
Azerbaijan Nigeria
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $7,411 - $1,224 -
2024 $7,295 $25,089 $1,084 $9,087
2023 $7,133 $23,652 $2,139 $8,705
2022 $7,771 $22,552 $2,899 $8,305
2021 $5,408 $20,111 $2,787 $7,588
2020 $4,230 $15,164 $2,797 $7,415
2019 $4,806 $16,675 $3,190 $7,551
2018 $4,740 $15,283 $2,058 $7,158
2017 $4,147 $14,316 $1,876 $7,037
2016 $3,881 $14,536 $2,070 $7,072
2015 $5,501 $15,075 $2,586 $7,308
2014 $7,891 $17,564 $3,089 $7,396
2013 $7,875 $17,268 $2,873 $7,004
2012 $7,496 $15,994 $2,633 $6,671
2011 $7,190 $14,805 $2,418 $6,585
2010 $5,844 $14,930 $2,202 $6,301
2009 $4,950 $14,246 $1,820 $5,927
2008 $5,574 $13,217 $2,154 $5,607
2007 $3,851 $11,974 $1,816 $5,298
2006 $2,473 $9,398 $1,600 $4,975
2005 $1,578 $6,855 $1,211 $4,678
2004 $1,045 $5,248 $962 $4,381
2003 $884 $4,718 $763 $4,015
2002 $763 $4,230 $712 $3,770
2001 $704 $3,835 $566 $3,309
2000 $655 $3,439 $547 $3,139
1999 $574 $3,052 $481 $3,002
1998 $562 $2,827 $1,822 $3,022
1997 $506 $2,565 $1,720 $2,990
1996 $409 $2,407 $1,633 $2,931
1995 $315 $2,357 $1,272 $2,835
1994 $157.1 $2,648 $745 $2,853
1993 $209.5 $3,272 $540 $2,921
1992 $60.2 $4,220 $509 $2,991
1991 $735 $5,412 $597 $2,870
1990 $1,238 $5,343 $556 $2,840
1989 - - $465 -
1988 - - $540 -
1987 - - $588 -
1986 - - $628 -
1985 - - $869 -
1984 - - $890 -
1983 - - $1,207 -
1982 - - $1,822 -
1981 - - $2,162 -
1980 - - $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 (1960–2025, retrieved 2026-07-08).

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

Azerbaijan's GDP per capita is $7,411, ranking 101/197, compared to $1,224 in Nigeria, ranking 172/197. Adjusted for purchasing power (GDP per capita PPP), Azerbaijan ranks 82nd at $25,089, while Nigeria ranks 136th at $9,087.

Economic indicators

Azerbaijan Nigeria
Gross domestic product
$75.9B
2025
$291B
2025
GDP rank
87/197
2025
50/197
2025
GDP growth
1.45%
2024-2025
4.01%
2024-2025
GDP per capita
$7,411
2025
$1,224
2025
GDP per capita rank
101/197
2025
172/197
2025
GDP per capita, PPP
$25,089
2024
$9,087
2024
GDP per capita PPP rank
82/197
2024
136/197
2024
Government debt
$15.3B
2025
$103B
2025
Debt-to-GDP ratio
20.1%
2025
35.5%
2025
Government debt per person
$1,492
2025
$434
2025
Government debt per person rank
131/185
2025
170/185
2025
Average annual personal income after taxes
$6,426
2026
$768
2026
Market capitalization of domestic companies
$1.57B
2025
$86.9B
2025
Number of billionaires n/a
4
2026
Income share by richest 10%
24.2%
2005
26.3%
2022
Income share by poorest 10%
4.8%
2005
3%
2022
Government expenditure, % of GDP
34.6%
2025
11.7%
2025
Consumer prices inflation
5.62%
2024-2025
23%
2024-2025
Central bank interest rate
6.5%
2026
26.5%
2026
Unemployment rate
5.7%
2022
3.45%
2024
Population
10333222
245016045

Spending and national debt comparison by year

Azerbaijan
Spending

Debt
Nigeria
Spending

Debt
1x
Year % of GDP
Azerbaijan Nigeria
Government spending Government debt Government spending Government debt
2025 34.6% 20.1% 11.7% 35.5%
2024 33.9% 21.6% 12% 39.3%
2023 32.7% 21.8% 10.4% 36.3%
2022 26.2% 17.3% 10.6% 29.8%
2021 32.2% 26.3% 9.09% 26.6%
2020 40.2% 21.3% 8.73% 25.7%
2019 32.5% 17.7% 8.87% 21.4%
2018 33.2% 18.7% 9.1% 20.4%
2017 35.6% 22.5% 8.51% 18%
2016 35.4% 20.6% 6.93% 17.4%
2015 38.7% 18% 7.85% 14.9%
2014 36.4% 8.53% 9.49% 15.8%
2013 37.8% 6.18% 10% 13%
2012 36.6% 5.83% 10.5% 12.5%
2011 33.7% 4.97% 12.3% 12.4%
2010 32% 4.98% 11.8% 6.67%
2009 34.5% 4.73% 11% 6.12%
2008 31.4% 3.22% 10.2% 5.17%
2007 26.1% 4% 12.9% 5.76%
2006 25.3% 5.3% 8.75% 6.68%
2005 22.5% 6.85% 12.6% 13.4%
2004 24.2% 9.71% 13% 25.2%
2003 21.7% 10.7% 16.5% 29.9%
2002 23.1% 11.9% 13.8% 30.7%
2001 16.8% 13% 21.9% 37.7%
2000 18.2% 13.1% 17.6% 40.9%
1999 19.5% 25.4% 14.9% 46.1%
1998 18.7% 14.3% 11.2% 15.8%
1997 18.5% 11.4% 9.68% 17.1%
1996 19.8% 16.7% 7.87% 17.9%
1995 18.9% 19.2% 8.87% 24.2%
1994 14.7% 11.7% 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 (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1994, retrieved 2026-07-08).

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

In 2025, Azerbaijan's government spending was $26.3B, accounting for 34.6% of its GDP, while Nigeria spent $34.1B, or 11.7% of GDP.

Debt-to-GDP ratio is 20.1% in Azerbaijan and 35.5% in Nigeria, ranking 174/185 and 143/185, respectively.

Government deficit by year

Deficit/surplus
Azerbaijan

Nigeria
1x
Year Deficit/surplus, % of GDP
Azerbaijan Nigeria
2025 2.56% -1.76%
2024 4.05% -1.27%
2023 7.92% -3.12%
2022 5.96% -4%
2021 4.21% -3.97%
2020 -6.44% -4.03%
2019 8.95% -3.31%
2018 5.43% -3.06%
2017 -1.34% -3.85%
2016 -1.17% -3.3%
2015 -4.83% -2.7%
2014 2.74% -1.72%
2013 1.64% -1.89%
2012 3.71% -0.09%
2011 10.9% 0.31%
2010 13.8% -2.96%
2009 5.86% -3.78%
2008 17.2% 4.05%
2007 2.34% -0.79%
2006 0.66% 6.22%
2005 2.74% 3.49%
2004 1.78% 3.9%
2003 1.6% -1.56%
2002 19.4% 0.95%
2001 21.8% -2.29%
2000 0.14% 2.89%
1999 -1.03% -1.39%
1998 1.63% -3.47%
1997 -0.94% 1.14%
1996 -2.25% 3.37%
1995 -1.34% 2.52%
1994 3.21% -2.96%
1993 - -6.07%
1992 - 0.94%
1991 - -1.18%
1990 - -0.48%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08).

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

In 2025, Azerbaijan's government surplus, the difference between spending and revenue, was $1.94B, equivalent to 2.56% of GDP. This compares to Nigeria's deficit of $5.12B, or 1.76% of GDP.

Over the past 32 years, Azerbaijan recorded a fiscal deficit in 8 of those years, while Nigeria ran a deficit in 22 years. On average, Azerbaijan posted an annual surplus equal to 4.09% of GDP, compared to deficit of 0.89% of GDP for Nigeria.

Inflation comparison by year

Inflation
Azerbaijan

Nigeria
1x
Year Consumer prices inflation
Azerbaijan Nigeria
2025 5.62% 23%
2024 2.21% 33.2%
2023 8.79% 24.7%
2022 13.9% 18.8%
2021 6.65% 17%
2020 2.76% 13.2%
2019 2.61% 11.4%
2018 2.27% 12.1%
2017 12.9% 16.5%
2016 12.4% 15.7%
2015 4.03% 9.01%
2014 1.37% 8.05%
2013 2.42% 8.5%
2012 1.07% 12.2%
2011 7.86% 10.8%
2010 5.73% 13.7%
2009 1.46% 12.5%
2008 20.8% 11.6%
2007 16.7% 5.39%
2006 8.33% 8.23%
2005 9.68% 17.9%
2004 6.71% 15%
2003 2.23% 14%
2002 2.77% 12.9%
2001 1.55% 18.9%
2000 1.81% 6.93%
1999 -8.53% 6.62%
1998 -0.77% 10%
1997 3.67% 8.53%

Data sources: World Bank | Economy & Growth (1997–2025, retrieved 2026-07-08).

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

Over the past 29 years, Azerbaijan has recorded an average annual inflation rate of 5.49%, compared with 13.7% in Nigeria. In 2025, inflation was 5.62% in Azerbaijan and 23% in Nigeria.

Top exports between countries

Azerbaijan
Export category Export value
Raw materials & minerals $306K
Processed food, beverages & tobacco $50K
Chemicals & pharma $26K
Metals $18K
Machinery & equipment $12K
Textiles & consumer goods $3K
Miscellaneous $1K
Nigeria
Export category Export value
Machinery & equipment $89K
Metals $4K

Balance of trade

Azerbaijan Nigeria
Current account balance
$3.48B
2025
$14B
2025
Current account balance ranking
35/190
2025
21/190
2025
Current account balance, % of GDP
+4.58%
2025
+4.83%
2025
Goods imports
$17.7B
2025
$43B
2025
Goods exports
$24.1B
2025
$57.5B
2025
Service imports
$10.3B
2025
$19.6B
2025
Service exports
$8.6B
2025
$5.06B
2025
Imports of goods and services, % of GDP
36.8%
2025
16.9%
1960
Exports of goods and services, % of GDP
43%
2025
9.24%
1960

Economic freedom indices

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

Azerbaijan Nigeria
Economic freedom 64.3 54.8
Economic freedom ranking 74/197 132/197
Property rights 53.3 29.7
Government integrity 23.6 23.5
Judicial effectiveness 16.5 34.4
Tax burden 87.9 84.6
Government spending 71.3 96.3
Fiscal health 99.1 83.5
Business freedom 71.2 50.3
Labor freedom 56.9 75.4
Monetary freedom 76 56.1
Trade freedom 75.8 64.4
Investment freedom 70 30
Financial freedom 70 30

Economic freedom comparison by year

Azerbaijan
Nigeria
1x
Year Economic freedom index
Azerbaijan Nigeria
2026 64.3 54.8
2025 62.5 53.4
2024 61.6 53.1
2023 61.4 53.9
2022 61.6 54.4
2021 70.1 58.7
2020 69.3 57.2
2019 65.4 57.3
2018 64.3 58.5
2017 63.6 57.1
2016 60.2 57.5
2015 61 55.6
2014 61.3 54.3
2013 59.7 55.1
2012 58.9 56.3
2011 59.7 56.7
2010 58.8 56.8
2009 58 55.1
2008 55.3 55.1
2007 54.6 55.6
2006 53.2 48.7
2005 54.4 48.4
2004 53.4 49.2
2003 54.1 49.5
2002 53.3 50.9
2001 50.3 49.6
2000 49.8 53.1
1999 47.4 55.7
1998 43.1 52.3
1997 34 52.8
1996 30 47.4
1995 - 47.3

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08).

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

The Economic Freedom Index for Azerbaijan is 64.3, ranking 74/197, 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

Azerbaijan Nigeria
Services, % of GDP
45.3%
2025
58.2%
2025
Industry, % of GDP
39.5%
2025
16.4%
2025
Agriculture, forestry, and fishing, % of GDP
5.93%
2025
23%
2025
GNI, Atlas method
$75.4B
2025
$324B
2025
GNI per capita, PPP
$25,430
2025
$9,230
2025
Total reserves including gold
$13.6B
2025
$46B
2025
Total reserves ranking
74/177
2025
52/177
2025
Net foreign direct investment
$536M
2025
-$2.82B
2025
Net inflows of foreign direct investment
$231M
2024
$1.61B
2024
Net outflows of foreign direct investment
$742M
2024
$408M
2024
Servicing debt to the IMF, % of GNI
5.82%
2024
5.46%
2024
Poverty at national poverty lines
6%
2012
56.2%
2023
Gross capital formation, % of GDP
18.9%
2025
n/a

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2025, retrieved 2026-07-08); U.S. Census Bureau (1985–2025, retrieved 2026-07-08).

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

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Data sources:

  1. World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08)
  3. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08)
  4. U.S. Census Bureau (1985–2025, retrieved 2026-07-08)
  5. TradeMap (2020–2025, retrieved 2026-07-08)
  6. United Nations | World Population Prospects (2026, retrieved 2026-07-08)
  7. LivingCost (2026, retrieved 2026-07-08)
  8. International Monetary Fund (IMF) | Public Finances in Modern History (1994, retrieved 2026-07-08)

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.