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Economy of Bosnia and Herzegovina vs Nigeria compared: GDP & Debt

Updated on by Georank team

Bosnia and Herzegovina has a GDP of $29.6B compared to $252B for Nigeria, ranking 111/197 and 54/197 by economy size, respectively.

Bosnia and Herzegovina has $8.74B in government debt (29.5% of GDP), compared to $99.2B (39.3% of GDP) in Nigeria.

Bosnia and Herzegovina vs Nigeria GDP by year

Bosnia and Herzegovina
Nigeria
1x
Year GDP, current $
Bosnia Nigeria
2024 $29,613,572,023 $252,261,880,141
2023 $27,592,361,498 $487,387,801,881
2022 $24,534,663,636 $646,950,257,578
2021 $23,672,712,121 $609,147,716,973
2020 $20,226,038,370 $598,586,817,819
2019 $20,482,608,984 $668,219,992,691
2018 $20,484,058,033 $421,739,251,509
2017 $18,326,373,136 $375,745,731,053
2016 $17,116,926,554 $404,649,125,252
2015 $16,404,348,361 $493,026,682,801
2014 $18,558,734,107 $574,183,763,412
2013 $18,179,109,209 $520,117,180,314
2012 $17,226,735,996 $463,971,018,239
2011 $18,644,233,537 $414,466,676,831
2010 $17,176,315,804 $366,990,417,129
2009 $17,613,949,091 $295,008,835,381
2008 $19,112,796,623 $339,476,276,258
2007 $15,778,734,264 $278,260,846,800
2006 $12,864,841,906 $238,454,997,161
2005 $11,222,796,337 $175,670,569,969
2004 $10,156,541,221 $135,764,731,646
2003 $8,498,894,359 $104,738,954,264
2002 $6,728,220,983 $95,054,059,303
2001 $5,800,615,375 $73,557,840,064
2000 $5,567,772,769 $69,171,451,627
1999 $4,686,256,363 $59,145,077,039
1998 $4,116,774,301 $218,416,200,673
1997 $3,671,909,673 $200,850,397,618
1996 $2,786,045,322 $185,730,236,700
1995 $1,866,572,954 $140,919,776,986
1994 $1,255,802,469 $80,399,613,064
1993 $3,630,668,950 $56,721,051,402
1992 $4,735,044,707 $52,058,181,854
1991 $6,122,959,184 $59,526,833,412
1990 $7,753,478,261 $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 (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/bosnia-and-herzegovina/nigeria | CC BY

GDP per capita in Bosnia and Herzegovina vs Nigeria by year

Bosnia and Herzegovina
GDP per capita

GDP per capita, PPP
Nigeria
GDP per capita

GDP per capita, PPP
1x
Year Current $
Bosnia Nigeria
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $9,359 $25,043 $1,084 $9,087
2023 $8,663 $23,376 $2,139 $8,705
2022 $7,656 $21,651 $2,899 $8,305
2021 $7,295 $18,287 $2,787 $7,588
2020 $6,130 $16,370 $2,797 $7,415
2019 $6,122 $16,429 $3,190 $7,551
2018 $6,048 $14,859 $2,058 $7,158
2017 $5,345 $13,627 $1,876 $7,037
2016 $4,929 $12,899 $2,070 $7,072
2015 $4,662 $11,845 $2,586 $7,308
2014 $5,206 $11,168 $3,089 $7,396
2013 $5,035 $10,808 $2,873 $7,004
2012 $4,694 $10,121 $2,633 $6,671
2011 $4,983 $9,761 $2,418 $6,585
2010 $4,506 $9,086 $2,202 $6,301
2009 $4,540 $8,698 $1,820 $5,927
2008 $4,842 $8,587 $2,154 $5,607
2007 $3,931 $7,686 $1,816 $5,298
2006 $3,166 $6,869 $1,600 $4,975
2005 $2,740 $5,956 $1,211 $4,678
2004 $2,453 $5,407 $962 $4,381
2003 $2,034 $4,917 $763 $4,015
2002 $1,607 $4,665 $712 $3,770
2001 $1,388 $4,307 $566 $3,309
2000 $1,338 $4,148 $547 $3,139
1999 $1,135 $3,875 $481 $3,002
1998 $1,007 $3,524 $1,822 $3,022
1997 $914 $3,041 $1,720 $2,990
1996 $719 $2,269 $1,633 $2,931
1995 $502 $1,507 $1,272 $2,835
1994 $337 $1,269 $745 $2,853
1993 $930 $1,067 $540 $2,921
1992 $1,118 $982 $509 $2,991
1991 $1,373 $975 $597 $2,870
1990 $1,743 $1,043 $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 (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/bosnia-and-herzegovina/nigeria | CC BY

Bosnia and Herzegovina's GDP per capita is $9,359, ranking 87/197, compared to $1,084 in Nigeria, ranking 174/197. Adjusted for purchasing power (GDP per capita PPP), Bosnia and Herzegovina ranks 83rd at $25,043, while Nigeria ranks 136th at $9,087.

Economic indicators

Bosnia Nigeria
Gross domestic product
$29.6B
2024
$252B
2024
GDP rank
111/197
2024
54/197
2024
GDP growth
2.97%
2023-2024
4.06%
2023-2024
GDP per capita
$9,359
2024
$1,084
2024
GDP per capita rank
87/197
2024
174/197
2024
GDP per capita, PPP
$25,043
2024
$9,087
2024
GDP per capita PPP rank
83/197
2024
136/197
2024
Government debt
$8.74B
2024
$99.2B
2024
Debt-to-GDP ratio
29.5%
2024
39.3%
2024
Government debt per person
$2,763
2024
$426
2024
Government debt per person rank
107/185
2024
170/185
2024
Average annual personal income after taxes
$8,501
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%
25.1%
2011
26.3%
2022
Income share by poorest 10%
2.9%
2011
3%
2022
Government expenditure, % of GDP
43.3%
2024
12.3%
2024
Consumer prices inflation
1.7%
2023-2024
33.2%
2023-2024
Central bank interest rate n/a
27%
2025
Unemployment rate
10.7%
2024
3.45%
2024
Population
3116111
243824469

Spending and national debt comparison by year

Bosnia and Herzegovina
Spending

Debt
Nigeria
Spending

Debt
1x
Year % of GDP
Bosnia Nigeria
Government spending Government debt Government spending Government debt
2024 43.3% 29.5% 12.3% 39.3%
2023 41.7% 29% 10.4% 36.3%
2022 39.4% 31.2% 10.6% 29.8%
2021 40.6% 35.8% 9.09% 26.6%
2020 45.4% 37.2% 8.73% 25.7%
2019 39.9% 32.8% 8.87% 21.4%
2018 40.4% 34.5% 9.1% 20.4%
2017 40% 38.6% 8.51% 18%
2016 41.5% 44.9% 6.93% 17.4%
2015 42.7% 46.4% 7.85% 14.9%
2014 46.2% 47.1% 9.49% 12.9%
2013 44.5% 43.8% 10% 13%
2012 46.9% 43.6% 10.5% 12.5%
2011 46.4% 40.9% 12.3% 12.4%
2010 48.7% 42.2% 11.8% 6.67%
2009 49% 36.4% 11% 6.12%
2008 48.4% 30.3% 10.2% 5.17%
2007 45.2% 18.2% 12.9% 5.76%
2006 44.2% 20.6% 8.75% 6.68%
2005 44.5% 24.9% 12.6% 13.4%
2004 45.6% 25.5% 13% 25.2%
2003 47.3% 27.6% 16.5% 29.9%
2002 47.4% 31.1% 13.8% 30.7%
2001 50.2% 35.1% 21.9% 37.7%
2000 56.2% 34.6% 17.6% 40.9%
1999 57.5% 56% 14.9% 46.1%
1998 54.4% 54.4% 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 (1990–2024, retrieved 2026-02-20).

GeoRank.org/economy/bosnia-and-herzegovina/nigeria | CC BY

In 2024, Bosnia and Herzegovina's government spending was $12.8B, accounting for 43.3% of its GDP, while Nigeria spent $31.1B, or 12.3% of GDP.

Debt-to-GDP ratio is 29.5% in Bosnia and Herzegovina and 39.3% in Nigeria, ranking 159/185 and 135/185, respectively.

Government deficit by year

Deficit/surplus
Bosnia and Herzegovina

Nigeria
1x
Year Deficit/surplus, % of GDP
Bosnia Nigeria
2024 -1.88% -1.57%
2023 -1.67% -3.12%
2022 0.15% -4%
2021 -0.18% -3.97%
2020 -4.5% -4.03%
2019 1.37% -3.31%
2018 1.63% -3.06%
2017 1.79% -3.85%
2016 0.34% -3.3%
2015 -0.19% -2.7%
2014 -2.87% -1.72%
2013 -1.28% -1.89%
2012 -2.68% -0.09%
2011 -2.73% 0.31%
2010 -4.06% -2.96%
2009 -5.34% -3.78%
2008 -3.82% 4.05%
2007 0.17% -0.79%
2006 2.08% 6.22%
2005 0.74% 3.49%
2004 -0.18% 3.9%
2003 -0.44% -1.56%
2002 -2.99% 0.95%
2001 -3.44% -2.29%
2000 -4.63% 2.89%
1999 -2.78% -1.39%
1998 -0.98% -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 (1990–2024, retrieved 2026-02-20).

GeoRank.org/economy/bosnia-and-herzegovina/nigeria | CC BY

In 2024, Bosnia and Herzegovina's government deficit, the difference between spending and revenue, was $557M, equivalent to 1.88% of GDP. This compares to Nigeria's deficit of $3.95B, or 1.57% of GDP.

Over the past 27 years, Bosnia and Herzegovina recorded a fiscal deficit in 19 of those years, while Nigeria ran a deficit in 20 years. On average, Bosnia and Herzegovina posted an annual deficit equal to 1.42% of GDP, compared to deficit of 1.15% of GDP for Nigeria.

Inflation comparison by year

Inflation
Bosnia and Herzegovina

Nigeria
1x
Year Consumer prices inflation
Bosnia Nigeria
2024 1.7% 33.2%
2023 6.1% 24.7%
2022 14% 18.8%
2021 2% 17%
2020 -1.1% 13.2%
2019 0.6% 11.4%
2018 1.4% 12.1%
2017 0.8% 16.5%
2016 -1.6% 15.7%
2015 -1% 9.01%
2014 -0.9% 8.05%
2013 -0.1% 8.5%
2012 2.1% 12.2%
2011 4% 10.8%
2010 2.1% 13.7%
2009 -0.4% 12.5%
2008 7.4% 11.6%
2007 1.5% 5.39%
2006 6.1% 8.23%
2005 3.6% 17.9%
2004 0.3% 15%
2003 0.5% 14%
2002 0.3% 12.9%
2001 3.2% 18.9%
2000 5% 6.93%
1999 2.8% 6.62%
1998 -0.3% 10%
1997 5.7% 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/bosnia-and-herzegovina/nigeria | CC BY

Over the past 28 years, Bosnia and Herzegovina has recorded an average annual inflation rate of 2.35%, compared with 13.3% in Nigeria. In 2024, inflation was 1.7% in Bosnia and Herzegovina and 33.2% in Nigeria.

Top exports between countries

Bosnia
Export category Export value
Machinery & equipment $263K
Processed food, beverages & tobacco $127K
Weapons & explosives $82K
Raw materials & minerals $40K
Metals $27K
Animal & marine products $7K
Textiles & consumer goods $6K
Nigeria
Export category Export value

Balance of trade

Bosnia Nigeria
Current account balance
-$1.03B
2024
$17.2B
2024
Current account balance ranking
123/190
2024
20/190
2024
Current account balance, % of GDP
-3.47%
2024
+6.82%
2024
Goods imports
$14.8B
2024
$39.8B
2024
Goods exports
$8.36B
2024
$53B
2024
Service imports
$1.27B
2024
$17.9B
2024
Service exports
$3.74B
2024
$4.57B
2024
Imports of goods and services, % of GDP
54.3%
2024
16.9%
1960
Exports of goods and services, % of GDP
40.9%
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.

Bosnia Nigeria
Economic freedom 63.1 54.8
Economic freedom ranking 83/197 132/197
Property rights 46.9 29.7
Government integrity 36.8 23.5
Judicial effectiveness 36.1 34.4
Tax burden 93.9 84.6
Government spending 48.4 96.3
Fiscal health 96.2 83.5
Business freedom 65.1 50.3
Labor freedom 62.7 75.4
Monetary freedom 77.5 56.1
Trade freedom 69 64.4
Investment freedom 65 30
Financial freedom 60 30

Economic freedom comparison by year

Bosnia and Herzegovina
Nigeria
1x
Year Economic freedom index
Bosnia Nigeria
2026 63.1 54.8
2025 63.5 53.4
2024 62 53.1
2023 62.9 53.9
2022 63.4 54.4
2021 62.9 58.7
2020 62.6 57.2
2019 61.9 57.3
2018 61.4 58.5
2017 60.2 57.1
2016 58.6 57.5
2015 59 55.6
2014 58.4 54.3
2013 57.3 55.1
2012 57.3 56.3
2011 57.5 56.7
2010 56.2 56.8
2009 53.1 55.1
2008 53.9 55.1
2007 54.4 55.6
2006 55.6 48.7
2005 48.8 48.4
2004 44.7 49.2
2003 40.6 49.5
2002 37.4 50.9
2001 36.6 49.6
2000 45.1 53.1
1999 29.4 55.7
1998 29.4 52.3
1997 - 52.8
1996 - 47.4
1995 - 47.3

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

GeoRank.org/economy/bosnia-and-herzegovina/nigeria | CC BY

The Economic Freedom Index for Bosnia and Herzegovina is 63.1, ranking 83/197, 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

Bosnia Nigeria
Services, % of GDP
56.6%
2024
53.7%
2024
Industry, % of GDP
22.4%
2024
18.2%
2024
Agriculture, forestry, and fishing, % of GDP
4.53%
2024
25.9%
2024
GNI, Atlas method
$27.8B
2024
$396B
2024
GNI per capita, PPP
$24,990
2024
$8,850
2024
Total reserves including gold
$9.42B
2024
$38.6B
2024
Total reserves ranking
79/177
2024
51/177
2024
Net foreign direct investment
-$885M
2024
-$672M
2024
Net inflows of foreign direct investment
$1B
2024
$1.08B
2024
Net outflows of foreign direct investment
$119M
2024
$408M
2024
Servicing debt to the IMF, % of GNI
4.93%
2024
5.48%
2024
Poverty at national poverty lines
16.9%
2015
56.2%
2023
Gross capital formation, % of GDP
27.5%
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/bosnia-and-herzegovina/nigeria | CC BY

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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 (2021–2024, retrieved 2026-02-08)
  6. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  7. LivingCost (2026, retrieved 2025-10-14)

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.