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

StatCape VerdeNigeria
GDP$2B$397.3B
GDP growth, 1 year4.7%1.9%
GDP growth, 5-years average3%2%
Population546k190.9M
GDP per capita$3.6k$2k
GDP per capita growth3.87%-0.67%
Purchasing Power Parity conversion factor45.56110.03
Price level ratio of PPP conversion factor GDP to market exchange rate0.490.34
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

StatCape VerdeNigeria
Income Tax Rate50%24%
Corporate Tax Rate30%30%
Inflation, consumer prices2.2%12.1%
Inflation, GDP deflator1.5%10.2%
Unemployment12.3%6%
Economic Freedom Index63.657.2
Personal Freedom Index8.336.01
Human Freedom Index7.46.1
Property Rights Index47.538.1
Judical Effectiveness Index4832.2
Business Freedom Index58.554.7
Fiscal Health Index66.264.1
Labor Freedom Index55.684
Investment Freedom Index8045
Financial Freedom Index6040
Trade Freedom Index68.262.4
Monetary Freedom Index83.161.7
Government Spending Index71.796.2
Tax Burden Index77.785.1
Government Integrity Index46.122.3
Corruption Perceptions Index5727
Life expectancy at birth, years72.654
Suicide mortality rate, per 100,000 people11.39.5
Mortality caused by road traffic injury, per 100,000 people2521.4
Intentional homicides, per 100,000 people11.59.9
International tourism, number of arrivals710k5.3M

Government debt & reserves

StatCape VerdeNigeria
Central government debt, % of GDP127.7%28.4%
External debt stocks, % of GNI89.3%12.4%
External debt stocks$1.7B$47B
Short-term debt, % of total reserves0.2%0%
Total debt service, % of exports and primary income5.6%8.3%
Adjusted net savings including particulate emission damage, % of GNI11.7%1.4%
Gross savings, % of GDP34.7%19.3%
Gross capital formation, % of GDP40.4%19.8%
Total reserves including gold$606.4M$42.8B
Foreign direct investment net inflows$108M$2B

Exports, imports and economic structure

StatCape VerdeNigeria
Exports of goods and services, % of GDP48.8%15.5%
Imports of goods and services, % of GDP68.2%17.5%
Current account balance (balance of payments)-$94.5M$5.3B
Revenue excluding grants, % of GDP28.8%N/A
Grants excluding technical cooperation, BoP$42.5M$2B
Personal remittances received$233.5M$24.3B
Industry including construction value added, % of GDP19.2%25.7%
Agriculture, forestry and fishing value added, % of GDP5.3%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 GDP28.4%N/A
Government Expenditure, % of GDP30.7%11.2%

Compare with countries close by GDP per capita

Cape Verde vs

CountryGDP
per capita
Population
Azerbaijan
$4.7k
10M
Georgia
$4.7k
3.72M
Guatemala
$4.5k
17.3M
Tonga
$4.4k
108k
Jordan
$4.2k
10.4M
Armenia
$4.2k
2.93M
Samoa
$4.2k
196k
Eswatini
$4.1k
1.37M
Mongolia
$4.1k
3.08M
Algeria
$4.1k
41.3M
Sri Lanka
$4.1k
21.4M
El Salvador
$4.1k
6.42M
Indonesia
$3.9k
264M
Marshall Islands
$3.8k
53.1k
Tuvalu
$3.7k
11.2k
Bolivia
$3.5k
11.1M
Tunisia
$3.4k
11.6M
Angola
$3.4k
29.8M
Bhutan
$3.2k
808k
Morocco
$3.2k
36M
Moldova
$3.2k
2.55M
Palestine
$3.2k
4.68M
Vanuatu
$3.1k
276k
Philippines
$3.1k
105M
Ukraine
$3.1k
42.6M
Djibouti
$3.1k
957k
Papua New Guinea
$2.7k
8.25M
Vietnam
$2.6k
94.7M
Egypt
$2.5k
94.8M
Laos
$2.5k
6.86M

Nigeria vs

CountryGDP
per capita
Population
Philippines
$3.1k
105M
Ukraine
$3.1k
42.6M
Djibouti
$3.1k
957k
Papua New Guinea
$2.7k
8.25M
Vietnam
$2.6k
94.7M
Egypt
$2.5k
94.8M
Laos
$2.5k
6.86M
Honduras
$2.5k
9.27M
Ghana
$2.2k
26.9M
Congo
$2.1k
5.26M
Zimbabwe
$2.1k
16.5M
Solomon Islands
$2.1k
611k
East Timor
$2k
1.3M
Syria
$2k
18.3M
Nicaragua
$2k
6.22M
India
$2k
1.33B
Sao Tome and Principe
$2k
204k
Ivory Coast
$1.7k
24.3M
Kenya
$1.7k
48.5M
North Korea
$1.7k
25.5M
Bangladesh
$1.7k
165M
Kiribati
$1.6k
116k
Zambia
$1.5k
17.1M
Cameroon
$1.5k
24.1M
Uzbekistan
$1.5k
32.4M
Senegal
$1.5k
15.9M
Cambodia
$1.5k
16M
Pakistan
$1.5k
197M
Comoros
$1.4k
824k
Myanmar
$1.3k
53.4M