Cape Verde vs Nigeria: Economic Indicators Comparison
Nigeria with a GDP of $397.3B ranked the 32nd largest economy in the world, while Cape Verde ranked 174th with $2B. By GDP 5-years average growth and GDP per capita, Nigeria and Cape Verde ranked 132nd vs 94th and 149th vs 125th, respectively.
Gross Domestic Product & Income
| Stat |  Cape Verde |  Nigeria |
|---|---|---|
| GDP | $2B | $397.3B |
| GDP growth, 1 year | 4.7% | 1.9% |
| GDP growth, 5-years average | 3% | 2% |
| Population | 546k | 190.9M |
| GDP per capita | $3.6k | $2k |
| GDP per capita growth | 3.87% | -0.67% |
| Purchasing Power Parity conversion factor | 45.56 | 110.03 |
| Price level ratio of PPP conversion factor GDP to market exchange rate | 0.49 | 0.34 |
| GDP per capita, PPP adjusted | $7.3k | $6k |
| GNI, Atlas method | $1.9B | $384.8B |
| GNI per capita | $3.4k | $2k |
| GNI, PPP adjusted | $4B | $1.1T |
| GNI per capita, PPP adjusted | $7.3k | $5.7k |
Financial system and Human development
| Stat | Cape Verde | Nigeria |
|---|---|---|
| Income Tax Rate | 50% | 24% |
| Corporate Tax Rate | 30% | 30% |
| Inflation, consumer prices | 2.2% | 12.1% |
| Inflation, GDP deflator | 1.5% | 10.2% |
| Unemployment | 12.3% | 6% |
| Economic Freedom Index | 63.6 | 57.2 |
| Personal Freedom Index | 8.33 | 6.01 |
| Human Freedom Index | 7.4 | 6.1 |
| Property Rights Index | 47.5 | 38.1 |
| Judical Effectiveness Index | 48 | 32.2 |
| Business Freedom Index | 58.5 | 54.7 |
| Fiscal Health Index | 66.2 | 64.1 |
| Labor Freedom Index | 55.6 | 84 |
| Investment Freedom Index | 80 | 45 |
| Financial Freedom Index | 60 | 40 |
| Trade Freedom Index | 68.2 | 62.4 |
| Monetary Freedom Index | 83.1 | 61.7 |
| Government Spending Index | 71.7 | 96.2 |
| Tax Burden Index | 77.7 | 85.1 |
| Government Integrity Index | 46.1 | 22.3 |
| Corruption Perceptions Index | 57 | 27 |
| Life expectancy at birth, years | 72.6 | 54 |
| Suicide mortality rate, per 100,000 people | 11.3 | 9.5 |
| Mortality caused by road traffic injury, per 100,000 people | 25 | 21.4 |
| Intentional homicides, per 100,000 people | 11.5 | 9.9 |
| International tourism, number of arrivals | 710k | 5.3M |
Government debt & reserves
| Stat | Cape Verde | Nigeria |
|---|---|---|
| Central government debt, % of GDP | 127.7% | 28.4% |
| External debt stocks, % of GNI | 89.3% | 12.4% |
| External debt stocks | $1.7B | $47B |
| Short-term debt, % of total reserves | 0.2% | 0% |
| Total debt service, % of exports and primary income | 5.6% | 8.3% |
| Adjusted net savings including particulate emission damage, % of GNI | 11.7% | 1.4% |
| Gross savings, % of GDP | 34.7% | 19.3% |
| Gross capital formation, % of GDP | 40.4% | 19.8% |
| Total reserves including gold | $606.4M | $42.8B |
| Foreign direct investment net inflows | $108M | $2B |
Exports, imports and economic structure
| Stat | Cape Verde | Nigeria |
|---|---|---|
| Exports of goods and services, % of GDP | 48.8% | 15.5% |
| Imports of goods and services, % of GDP | 68.2% | 17.5% |
| Current account balance (balance of payments) | -$94.5M | $5.3B |
| Revenue excluding grants, % of GDP | 28.8% | N/A |
| Grants excluding technical cooperation, BoP | $42.5M | $2B |
| Personal remittances received | $233.5M | $24.3B |
| Industry including construction value added, % of GDP | 19.2% | 25.7% |
| Agriculture, forestry and fishing value added, % of GDP | 5.3% | 21.2% |
| Charges for the use of intellectual property, payments BoP | $11.3M | $252.8M |
| Charges for the use of intellectual property, receipts BoP | $47k | $7.8M |
| Expense, % of GDP | 28.4% | N/A |
| Government Expenditure, % of GDP | 30.7% | 11.2% |
