Benin vs Nigeria: Economic Indicators Comparison
Gross Domestic Product & Income
| Stat |  Benin |  Nigeria |
|---|---|---|
| GDP | $10.4B | $397.3B |
| GDP growth, 1 year | 6.5% | 1.9% |
| GDP growth, 5-years average | 5% | 2% |
| Population | 11.2M | 190.9M |
| GDP per capita | $902 | $2k |
| GDP per capita growth | 3.98% | -0.67% |
| Purchasing Power Parity conversion factor | 206.52 | 110.03 |
| Price level ratio of PPP conversion factor GDP to market exchange rate | 0.37 | 0.34 |
| GDP per capita, PPP adjusted | $2.4k | $6k |
| GNI, Atlas method | $10B | $384.8B |
| GNI per capita | $870 | $2k |
| GNI, PPP adjusted | $27.6B | $1.1T |
| GNI per capita, PPP adjusted | $2.4k | $5.7k |
Financial system and Human development
| Stat | Benin | Nigeria |
|---|---|---|
| Income Tax Rate | 45% | 24% |
| Corporate Tax Rate | 30% | 30% |
| Inflation, consumer prices | 1% | 12.1% |
| Inflation, GDP deflator | 0% | 10.2% |
| Unemployment | 2.1% | 6% |
| Economic Freedom Index | 55.2 | 57.2 |
| Personal Freedom Index | 7.46 | 6.01 |
| Human Freedom Index | 6.85 | 6.1 |
| Property Rights Index | 41.3 | 38.1 |
| Judical Effectiveness Index | 36.4 | 32.2 |
| Business Freedom Index | 58 | 54.7 |
| Fiscal Health Index | 46.6 | 64.1 |
| Labor Freedom Index | 53.7 | 84 |
| Investment Freedom Index | 60 | 45 |
| Financial Freedom Index | 50 | 40 |
| Trade Freedom Index | 49.4 | 62.4 |
| Monetary Freedom Index | 84.3 | 61.7 |
| Government Spending Index | 84.2 | 96.2 |
| Tax Burden Index | 69 | 85.1 |
| Government Integrity Index | 29.6 | 22.3 |
| Corruption Perceptions Index | 40 | 27 |
| Life expectancy at birth, years | 61.2 | 54 |
| Suicide mortality rate, per 100,000 people | 9.9 | 9.5 |
| Mortality caused by road traffic injury, per 100,000 people | 27.5 | 21.4 |
| Intentional homicides, per 100,000 people | 1.1 | 9.9 |
| International tourism, number of arrivals | 295k | 5.3M |
Government debt & reserves
| Stat | Benin | Nigeria |
|---|---|---|
| Central government debt, % of GDP | 54.6% | 28.4% |
| External debt stocks, % of GNI | 35.9% | 12.4% |
| External debt stocks | $3.7B | $47B |
| Short-term debt, % of total reserves | N/A | 0% |
| Total debt service, % of exports and primary income | 7.8% | 8.3% |
| Adjusted net savings including particulate emission damage, % of GNI | -3.4% | 1.4% |
| Gross savings, % of GDP | 12.3% | 19.3% |
| Gross capital formation, % of GDP | 25.8% | 19.8% |
| Total reserves including gold | N/A | $42.8B |
| Foreign direct investment net inflows | $207.5M | $2B |
Exports, imports and economic structure
| Stat | Benin | Nigeria |
|---|---|---|
| Exports of goods and services, % of GDP | 35.4% | 15.5% |
| Imports of goods and services, % of GDP | 44.2% | 17.5% |
| Current account balance (balance of payments) | -$927.3M | $5.3B |
| Revenue excluding grants, % of GDP | 12.9% | N/A |
| Grants excluding technical cooperation, BoP | $328.1M | $2B |
| Personal remittances received | $198.7M | $24.3B |
| Industry including construction value added, % of GDP | 21.5% | 25.7% |
| Agriculture, forestry and fishing value added, % of GDP | 22.6% | 21.2% |
| Charges for the use of intellectual property, payments BoP | $18k | $252.8M |
| Charges for the use of intellectual property, receipts BoP | $877 | $7.8M |
| Expense, % of GDP | N/A | N/A |
| Government Expenditure, % of GDP | 23% | 11.2% |
