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Economy of Belarus vs Nigeria compared: GDP & Debt

Updated on by Georank

Belarus has a GDP of $93.4B compared to $291B for Nigeria, ranking 80/197 and 50/197 by economy size, respectively.

Belarus has $30.9B in government debt (33.1% of GDP), compared to $103B (35.5% of GDP) in Nigeria.

Belarus vs Nigeria GDP by year

Belarus
Nigeria
1x
Year GDP, current $
Belarus Nigeria
2025 $93,397,215,864 $290,794,361,542
2024 $78,591,839,300 $252,261,880,140
2023 $72,478,760,370 $487,387,801,878
2022 $73,775,179,925 $646,950,257,575
2021 $69,673,747,132 $609,147,716,965
2020 $61,371,673,345 $598,586,817,817
2019 $64,410,170,653 $668,219,992,687
2018 $60,031,026,576 $421,739,251,509
2017 $54,725,405,751 $375,745,731,053
2016 $47,723,545,321 $404,649,125,252
2015 $56,454,769,845 $493,026,682,801
2014 $78,813,069,121 $574,183,763,412
2013 $75,527,558,966 $520,117,180,314
2012 $65,685,890,439 $463,971,018,239
2011 $61,762,382,328 $414,466,676,831
2010 $57,231,904,543 $366,990,417,129
2009 $50,873,167,326 $295,008,835,381
2008 $60,752,106,347 $339,476,276,258
2007 $45,275,711,996 $278,260,846,800
2006 $36,961,894,281 $238,454,997,161
2005 $30,210,091,837 $175,670,569,969
2004 $23,141,566,293 $135,764,731,646
2003 $17,825,444,724 $104,738,954,264
2002 $14,594,900,945 $95,054,059,303
2001 $12,354,820,144 $73,557,840,064
2000 $12,736,856,828 $69,171,451,627
1999 $12,138,486,532 $59,145,077,039
1998 $15,222,012,660 $218,416,200,673
1997 $14,128,408,566 $200,850,397,618
1996 $14,500,437,520 $185,730,236,700
1995 $13,972,683,274 $140,919,776,986
1994 $14,931,435,232 $80,399,613,064
1993 $16,275,073,527 $56,721,051,402
1992 $16,939,790,094 $52,058,181,854
1991 $18,404,907,975 $59,526,833,412
1990 $17,389,558,233 $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/belarus/nigeria | CC BY

GDP per capita in Belarus vs Nigeria by year

Belarus
GDP per capita

GDP per capita, PPP
Nigeria
GDP per capita

GDP per capita, PPP
1x
Year Current $
Belarus Nigeria
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $10,279 - $1,224 -
2024 $8,606 $33,010 $1,084 $9,087
2023 $7,897 $30,834 $2,139 $8,705
2022 $7,995 $28,429 $2,899 $8,305
2021 $7,490 $27,611 $2,787 $7,588
2020 $6,543 $24,872 $2,797 $7,415
2019 $6,838 $22,302 $3,190 $7,551
2018 $6,360 $20,026 $2,058 $7,158
2017 $5,786 $18,414 $1,876 $7,037
2016 $5,040 $17,832 $2,070 $7,072
2015 $5,967 $18,134 $2,586 $7,308
2014 $8,341 $19,038 $3,089 $7,396
2013 $7,998 $19,014 $2,873 $7,004
2012 $6,953 $18,115 $2,633 $6,671
2011 $6,528 $16,563 $2,418 $6,585
2010 $6,035 $15,339 $2,202 $6,301
2009 $5,352 $14,034 $1,820 $5,927
2008 $6,376 $13,886 $2,154 $5,607
2007 $4,735 $12,320 $1,816 $5,298
2006 $3,848 $10,995 $1,600 $4,975
2005 $3,126 $9,637 $1,211 $4,678
2004 $2,378 $8,483 $962 $4,381
2003 $1,820 $7,362 $763 $4,015
2002 $1,479 $6,697 $712 $3,770
2001 $1,244 $6,238 $566 $3,309
2000 $1,276 $5,796 $547 $3,139
1999 $1,211 $5,331 $481 $3,002
1998 $1,511 $5,061 $1,822 $3,022
1997 $1,396 $4,596 $1,720 $2,990
1996 $1,427 $4,039 $1,633 $2,931
1995 $1,371 $3,846 $1,272 $2,835
1994 $1,460 $4,190 $745 $2,853
1993 $1,590 $4,641 $540 $2,921
1992 $1,658 $4,917 $509 $2,991
1991 $1,805 $5,330 $597 $2,870
1990 $1,707 $5,220 $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/belarus/nigeria | CC BY

Belarus' GDP per capita is $10,279, ranking 88/197, compared to $1,224 in Nigeria, ranking 172/197. Adjusted for purchasing power (GDP per capita PPP), Belarus ranks 68th at $33,010, while Nigeria ranks 136th at $9,087.

Economic indicators

Belarus Nigeria
Gross domestic product
$93.4B
2025
$291B
2025
GDP rank
80/197
2025
50/197
2025
GDP growth
1.3%
2024-2025
4.01%
2024-2025
GDP per capita
$10,279
2025
$1,224
2025
GDP per capita rank
88/197
2025
172/197
2025
GDP per capita, PPP
$33,010
2024
$9,087
2024
GDP per capita PPP rank
68/197
2024
136/197
2024
Government debt
$30.9B
2025
$103B
2025
Debt-to-GDP ratio
33.1%
2025
35.5%
2025
Government debt per person
$3,399
2025
$434
2025
Government debt per person rank
98/185
2025
170/185
2025
Average annual personal income after taxes
$8,062
2026
$768
2026
Market capitalization of domestic companies
$5.54B
2025
$86.9B
2025
Number of billionaires n/a
4
2026
Income share by richest 10%
20.7%
2020
26.3%
2022
Income share by poorest 10%
4.5%
2020
3%
2022
Government expenditure, % of GDP
41.3%
2025
11.7%
2025
Consumer prices inflation
6.6%
2024-2025
23%
2024-2025
Central bank interest rate
9.25%
2026
26.5%
2026
Unemployment rate
3.04%
2024
3.45%
2024
Population
9025821
245016045

Spending and national debt comparison by year

Belarus
Spending

Debt
Nigeria
Spending

Debt
1x
Year % of GDP
Belarus Nigeria
Government spending Government debt Government spending Government debt
2025 41.3% 33.1% 11.7% 35.5%
2024 40.8% 38.7% 12% 39.3%
2023 40.3% 40.7% 10.4% 36.3%
2022 38% 40.8% 10.6% 29.8%
2021 36.7% 41.2% 9.09% 26.6%
2020 38% 47.5% 8.73% 25.7%
2019 37.4% 41% 8.87% 21.4%
2018 37.8% 47.5% 9.1% 20.4%
2017 39% 53.2% 8.51% 18%
2016 40.7% 53.5% 6.93% 17.4%
2015 41.8% 53% 7.85% 14.9%
2014 38.8% 38.8% 9.49% 15.8%
2013 40.8% 36.9% 10% 13%
2012 38.9% 36.9% 10.5% 12.5%
2011 40.3% 58.2% 12.3% 12.4%
2010 44.3% 36.8% 11.8% 6.67%
2009 51.7% 32.5% 11% 6.12%
2008 60% 20.3% 10.2% 5.17%
2007 49.2% 15.8% 12.9% 5.76%
2006 47.2% 12.3% 8.75% 6.68%
2005 45% 8.12% 12.6% 13.4%
2004 44% 9.22% 13% 25.2%
2003 43.5% - 16.5% 29.9%
2002 43.8% - 13.8% 30.7%
2001 42.4% - 21.9% 37.7%
2000 - - 17.6% 40.9%
1999 - - 14.9% 46.1%
1998 - - 11.2% 15.8%
1997 - - 9.68% 17.1%
1996 - - 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 (1990–2025, retrieved 2026-07-08).

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

In 2025, Belarus' government spending was $38.6B, accounting for 41.3% of its GDP, while Nigeria spent $34.1B, or 11.7% of GDP.

Debt-to-GDP ratio is 33.1% in Belarus and 35.5% in Nigeria, ranking 148/185 and 143/185, respectively.

Government deficit by year

Deficit/surplus
Belarus

Nigeria
1x
Year Deficit/surplus, % of GDP
Belarus Nigeria
2025 0.15% -1.76%
2024 0.54% -1.27%
2023 0.76% -3.12%
2022 -1.98% -4%
2021 -0.22% -3.97%
2020 -2.87% -4.03%
2019 0.91% -3.31%
2018 1.8% -3.06%
2017 -0.34% -3.85%
2016 -1.66% -3.3%
2015 -2.96% -2.7%
2014 0.09% -1.72%
2013 -0.98% -1.89%
2012 0.36% -0.09%
2011 -2.81% 0.31%
2010 -4.19% -2.96%
2009 -7.23% -3.78%
2008 -10.9% 4.05%
2007 -7.82% -0.79%
2006 -7.71% 6.22%
2005 -6.71% 3.49%
2004 -7.06% 3.9%
2003 -6.74% -1.56%
2002 -7.81% 0.95%
2001 -4.74% -2.29%
2000 - 2.89%
1999 - -1.39%
1998 - -3.47%
1997 - 1.14%
1996 - 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 (1990–2025, retrieved 2026-07-08).

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

In 2025, Belarus' government surplus, the difference between spending and revenue, was $140M, equivalent to 0.15% of GDP. This compares to Nigeria's deficit of $5.12B, or 1.76% of GDP.

Over the past 25 years, Belarus recorded a fiscal deficit in 18 of those years, while Nigeria ran a deficit in 19 years. On average, Belarus posted an annual deficit equal to 3.2% of GDP, compared to deficit of 1.22% of GDP for Nigeria.

Inflation comparison by year

Inflation
Belarus

Nigeria
1x
Year Consumer prices inflation
Belarus Nigeria
2025 6.6% 23%
2024 5.7% 33.2%
2023 5% 24.7%
2022 15.2% 18.8%
2021 9.5% 17%
2020 5.5% 13.2%
2019 5.6% 11.4%
2018 4.9% 12.1%
2017 6% 16.5%
2016 11.8% 15.7%
2015 13.5% 9.01%
2014 18.1% 8.05%
2013 18.3% 8.5%
2012 59.2% 12.2%
2011 53.2% 10.8%
2010 7.7% 13.7%
2009 13% 12.5%
2008 14.8% 11.6%
2007 8.4% 5.39%
2006 7% 8.23%
2005 10.3% 17.9%
2004 18.1% 15%
2003 28.4% 14%
2002 42.6% 12.9%
2001 61.1% 18.9%
2000 168.6% 6.93%
1999 293.7% 6.62%
1998 73% 10%
1997 63.8% 8.53%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2025, retrieved 2026-07-08); World Bank | Economy & Growth (1997–2025, retrieved 2026-07-08).

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

Over the past 29 years, Belarus has recorded an average annual inflation rate of 36.2%, compared with 13.7% in Nigeria. In 2025, inflation was 6.6% in Belarus and 23% in Nigeria.

Top exports between countries

Belarus
Export category Export value
Raw materials & minerals $3.99M
Chemicals & pharma $1.06M
Machinery & equipment $898K
Wood & paper products $430K
Animal & marine products $76K
Textiles & consumer goods $74K
Raw agricultural goods $40K
Processed food, beverages & tobacco $37K
Nigeria
Export category Export value
Raw agricultural goods $13K
Processed food, beverages & tobacco $5K

Balance of trade

Belarus Nigeria
Current account balance
-$1.82B
2025
$14B
2025
Current account balance ranking
137/190
2025
21/190
2025
Current account balance, % of GDP
-1.94%
2025
+4.83%
2025
Goods imports
$46B
2025
$43B
2025
Goods exports
$40B
2025
$57.5B
2025
Service imports
$7.55B
2025
$19.6B
2025
Service exports
$11.7B
2025
$5.06B
2025
Imports of goods and services, % of GDP
57%
2025
16.9%
1960
Exports of goods and services, % of GDP
55.1%
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.

Belarus Nigeria
Economic freedom 49.1 54.8
Economic freedom ranking 166/197 132/197
Property rights 20 29.7
Government integrity 28.3 23.5
Judicial effectiveness 11.5 34.4
Tax burden 93.5 84.6
Government spending 52.6 96.3
Fiscal health 96.8 83.5
Business freedom 50.3 50.3
Labor freedom 48 75.4
Monetary freedom 69 56.1
Trade freedom 69.2 64.4
Investment freedom 30 30
Financial freedom 20 30

Economic freedom comparison by year

Belarus
Nigeria
1x
Year Economic freedom index
Belarus Nigeria
2026 49.1 54.8
2025 48.9 53.4
2024 48.4 53.1
2023 51 53.9
2022 53 54.4
2021 61 58.7
2020 61.7 57.2
2019 57.9 57.3
2018 58.1 58.5
2017 58.6 57.1
2016 48.8 57.5
2015 49.8 55.6
2014 50.1 54.3
2013 48 55.1
2012 49 56.3
2011 47.9 56.7
2010 48.7 56.8
2009 45 55.1
2008 45.3 55.1
2007 47 55.6
2006 47.5 48.7
2005 46.7 48.4
2004 43.1 49.2
2003 39.7 49.5
2002 39 50.9
2001 38 49.6
2000 41.3 53.1
1999 35.4 55.7
1998 38 52.3
1997 39.8 52.8
1996 38.7 47.4
1995 40.4 47.3

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

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

The Economic Freedom Index for Belarus is 49.1, ranking 166/197, 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

Belarus Nigeria
Services, % of GDP
50%
2025
58.2%
2025
Industry, % of GDP
31.6%
2025
16.4%
2025
Agriculture, forestry, and fishing, % of GDP
6.9%
2025
23%
2025
GNI, Atlas method
$83.3B
2025
$324B
2025
GNI per capita, PPP
$34,310
2025
$9,230
2025
Total reserves including gold
$14.5B
2025
$46B
2025
Total reserves ranking
72/177
2025
52/177
2025
Net foreign direct investment
-$1.43B
2025
-$2.82B
2025
Net inflows of foreign direct investment
$1.74B
2024
$1.61B
2024
Net outflows of foreign direct investment
$170M
2024
$408M
2024
Servicing debt to the IMF, % of GNI
6.94%
2024
5.46%
2024
Poverty at national poverty lines
3.5%
2024
56.2%
2023
Gross capital formation, % of GDP
27.1%
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/belarus/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 (2020–2024, retrieved 2026-07-08)
  6. United Nations | World Population Prospects (2026, retrieved 2026-07-08)
  7. LivingCost (2026, 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.