Denmark has a GDP of $429B compared to $188B for Nigeria, ranking 38/197 and 58/197 by economy size, respectively.
Denmark has $120B in government debt (26.6% of GDP), compared to $99.3B (52.5% of GDP) in Nigeria.
The chart below compares the two countries' GDP growth in both current (nominal) and constant dollars, accounting for inflation over time.
| Year | GDP | |||
|---|---|---|---|---|
Denmark
|
Nigeria
|
|||
| Current $ | Constant $ | Current $ | Constant $ | |
| 1960 | $6,361,166,545 | $80,238,063,131 | $4,196,174,502 | $65,552,393,151 |
| 1961 | $7,058,361,229 | $85,356,314,760 | $4,467,287,893 | $65,678,119,685 |
| 1962 | $7,953,274,741 | $90,193,305,331 | $4,909,399,176 | $68,372,888,068 |
| 1963 | $8,466,044,980 | $90,767,855,838 | $5,165,590,254 | $74,238,337,576 |
| 1964 | $9,677,401,337 | $99,181,979,992 | $5,552,931,319 | $77,913,498,064 |
| 1965 | $10,870,670,865 | $103,699,971,911 | $5,874,537,650 | $81,719,554,395 |
| 1966 | $11,931,740,293 | $106,542,294,924 | $6,366,917,453 | $78,246,053,144 |
| 1967 | $13,059,064,806 | $112,813,620,773 | $5,203,237,919 | $65,927,285,450 |
| 1968 | $13,505,574,133 | $119,416,599,037 | $5,200,997,920 | $65,104,275,427 |
| 1969 | $15,414,902,667 | $127,535,877,471 | $6,634,317,346 | $80,857,806,917 |
| 1970 | $17,075,457,733 | $129,902,945,560 | $12,546,094,982 | $101,078,114,312 |
| 1971 | $19,086,192,720 | $134,031,029,530 | $9,181,769,912 | $115,469,142,733 |
| 1972 | $23,230,667,549 | $139,120,989,452 | $12,274,416,018 | $119,353,827,264 |
| 1973 | $30,718,181,337 | $145,686,794,688 | $15,162,871,287 | $125,790,293,297 |
| 1974 | $34,125,712,481 | $144,281,984,443 | $24,846,641,318 | $139,829,338,542 |
| 1975 | $40,418,967,666 | $142,247,753,419 | $27,778,934,625 | $132,519,413,715 |
| 1976 | $44,503,607,444 | $150,773,233,048 | $36,308,883,249 | $144,502,285,208 |
| 1977 | $49,711,709,588 | $153,766,730,433 | $36,035,407,725 | $153,207,273,165 |
| 1978 | $60,320,089,218 | $157,483,262,379 | $36,527,862,209 | $144,376,163,268 |
| 1979 | $70,393,030,603 | $163,866,531,124 | $47,259,911,894 | $154,135,170,311 |
| 1980 | $70,811,287,816 | $162,635,188,845 | $64,201,788,123 | $160,616,293,803 |
| 1981 | $61,459,941,461 | $161,430,084,232 | $164,475,209,516 | $139,530,778,713 |
| 1982 | $60,084,214,872 | $167,713,124,649 | $142,769,363,314 | $130,037,957,320 |
| 1983 | $60,331,158,447 | $172,165,579,297 | $97,094,911,792 | $115,832,500,286 |
| 1984 | $58,868,891,335 | $179,636,437,842 | $73,484,359,521 | $114,540,246,020 |
| 1985 | $62,452,421,011 | $187,096,889,700 | $73,745,821,158 | $121,313,042,219 |
| 1986 | $87,748,695,217 | $195,952,945,326 | $54,805,852,581 | $121,386,976,785 |
| 1987 | $109,183,446,340 | $196,860,120,911 | $52,676,041,931 | $125,271,512,343 |
| 1988 | $115,540,189,705 | $197,397,452,814 | $49,648,470,440 | $134,458,956,986 |
| 1989 | $112,312,200,761 | $198,773,654,972 | $44,003,061,108 | $137,039,737,058 |
| 1990 | $138,217,740,684 | $202,073,829,845 | $54,035,795,388 | $153,178,750,575 |
| 1991 | $139,180,507,778 | $205,020,430,124 | $59,526,833,412 | $153,727,670,613 |
| 1992 | $152,966,494,260 | $209,167,606,432 | $52,058,181,854 | $160,847,095,651 |
| 1993 | $143,111,306,004 | $209,002,572,327 | $56,721,051,402 | $157,573,666,210 |
| 1994 | $156,017,919,221 | $220,068,623,481 | $80,399,613,064 | $154,713,823,159 |
| 1995 | $184,848,481,008 | $226,754,355,587 | $140,919,776,986 | $154,601,400,725 |
| 1996 | $187,481,157,846 | $233,320,596,409 | $185,730,236,700 | $161,088,358,074 |
| 1997 | $173,241,365,735 | $240,713,316,197 | $200,850,397,618 | $165,819,683,304 |
| 1998 | $176,877,077,513 | $246,313,036,680 | $218,416,200,673 | $170,099,910,681 |
| 1999 | $177,887,720,536 | $253,621,896,626 | $59,145,077,039 | $171,093,510,004 |
| 2000 | $164,043,817,224 | $263,066,798,869 | $69,171,451,627 | $179,675,448,843 |
| 2001 | $164,881,594,415 | $265,566,018,287 | $73,557,840,064 | $190,308,075,298 |
| 2002 | $178,788,209,558 | $266,778,406,880 | $95,054,059,303 | $219,480,696,548 |
| 2003 | $218,421,193,436 | $267,955,142,441 | $104,738,954,264 | $235,606,371,241 |
| 2004 | $251,986,155,631 | $275,394,519,881 | $135,764,731,646 | $257,401,275,804 |
| 2005 | $265,150,087,712 | $281,892,753,289 | $175,670,569,969 | $273,974,099,483 |
| 2006 | $283,386,151,544 | $292,651,155,543 | $238,454,997,161 | $290,575,362,868 |
| 2007 | $320,213,157,595 | $295,540,131,122 | $278,260,846,800 | $309,727,563,830 |
| 2008 | $354,979,471,960 | $294,307,201,414 | $339,476,276,258 | $330,679,000,571 |
| 2009 | $322,619,152,195 | $279,666,951,317 | $295,008,835,381 | $357,255,424,171 |
| 2010 | $322,345,594,075 | $284,093,791,187 | $366,990,417,129 | $385,856,064,173 |
| 2011 | $344,315,595,263 | $287,817,703,286 | $414,466,676,831 | $406,337,011,591 |
| 2012 | $326,792,574,245 | $287,802,068,160 | $463,971,018,239 | $423,525,315,758 |
| 2013 | $344,631,016,965 | $291,810,211,099 | $520,117,180,314 | $451,780,110,047 |
| 2014 | $352,832,602,064 | $295,539,545,107 | $574,183,763,412 | $480,286,163,931 |
| 2015 | $301,758,922,338 | $301,758,922,338 | $493,026,682,801 | $493,026,682,801 |
| 2016 | $312,181,849,372 | $311,032,111,298 | $404,649,125,252 | $485,055,087,456 |
| 2017 | $331,610,593,962 | $320,538,736,986 | $375,745,731,053 | $488,964,081,501 |
| 2018 | $355,293,374,912 | $326,500,781,503 | $421,739,251,509 | $498,365,674,278 |
| 2019 | $345,401,473,013 | $332,088,518,944 | $474,517,490,844 | $509,371,727,736 |
| 2020 | $355,631,021,932 | $326,176,991,232 | $432,198,898,468 | $500,232,309,808 |
| 2021 | $408,378,204,640 | $350,255,593,093 | $440,833,635,874 | $518,476,715,284 |
| 2022 | $401,945,576,108 | $355,650,135,426 | $477,403,400,101 | $535,335,926,241 |
| 2023 | $407,091,920,305 | $364,524,261,929 | $363,846,332,835 | $550,647,684,656 |
| 2024 | $429,457,372,072 | $377,924,893,185 | $187,759,703,100 | $569,515,294,271 |
Economic indicators
|
Denmark
|
Nigeria
|
|
|---|---|---|
| Gross domestic product |
$429B
2024 |
$188B
2024 |
| GDP rank |
38/197
2024 |
58/197
2024 |
| GDP growth |
5.49%
2023-2024 |
-48.4%
2023-2024 |
| GDP per capita |
$71,852
2024 |
$807
2024 |
| GDP per capita rank |
12/197
2024 |
186/197
2024 |
| GDP per capita, PPP |
$79,514
2024 |
$6,440
2024 |
| Government debt |
$120B
2024 |
$99.3B
2024 |
| Debt-to-GDP ratio |
26.6%
2025 |
52.5%
2025 |
| Government debt per person |
$20,114
2024 |
$427
2024 |
| Government debt per person rank |
31/185
2024 |
170/185
2024 |
| Average annual personal income after taxes |
$50,067
2025 |
$1,020
2025 |
| Market capitalization of domestic companies |
$151B
2004 |
$54.4B
2024 |
| Number of billionaires |
9
2025 |
4
2025 |
| Income share by richest 10% |
25.5%
2023 |
26.3%
2022 |
| Income share by poorest 10% |
3.6%
2023 |
3%
2022 |
| Government expenditure, % of GDP |
48.4%
2025 |
18.5%
2025 |
| Consumer prices inflation |
1.37%
2023-2024 |
33.2%
2023-2024 |
| Central bank interest rate |
1.6%
2025 |
27.5%
2024 |
| Unemployment rate |
6.15%
2024 |
3.45%
2024 |
| Population |
6018959
|
241467099
|
GDP per capita in Denmark vs Nigeria
Denmark's GDP per capita is $71,852, ranking 12/197, compared to $807 in Nigeria, ranking 186/197. Adjusted for purchasing power (GDP per capita PPP), Denmark ranks 14th at $79,514, while Nigeria ranks 149th at $6,440.
| Year | Current $ | |||
|---|---|---|---|---|
|
Denmark
|
Nigeria
|
|||
| GDP per capita | GDP per capita, PPP | GDP per capita | GDP per capita, PPP | |
| 1960 | $1,389 | - | $93.1 | - |
| 1961 | $1,531 | - | $97.1 | - |
| 1962 | $1,711 | - | $104.5 | - |
| 1963 | $1,807 | - | $107.7 | - |
| 1964 | $2,049 | - | $113.3 | - |
| 1965 | $2,284 | - | $117.3 | - |
| 1966 | $2,487 | - | $124.4 | - |
| 1967 | $2,701 | - | $99.5 | - |
| 1968 | $2,776 | - | $97.3 | - |
| 1969 | $3,151 | - | $121.4 | - |
| 1970 | $3,464 | - | $224.5 | - |
| 1971 | $3,846 | - | $160.5 | - |
| 1972 | $4,654 | - | $209.5 | - |
| 1973 | $6,117 | - | $252.4 | - |
| 1974 | $6,764 | - | $403 | - |
| 1975 | $7,988 | - | $438 | - |
| 1976 | $8,773 | - | $556 | - |
| 1977 | $9,770 | - | $536 | - |
| 1978 | $11,818 | - | $527 | - |
| 1979 | $13,757 | - | $661 | - |
| 1980 | $13,822 | - | $870 | - |
| 1981 | $12,000 | - | $2,162 | - |
| 1982 | $11,740 | - | $1,822 | - |
| 1983 | $11,797 | - | $1,207 | - |
| 1984 | $11,517 | - | $890 | - |
| 1985 | $12,213 | - | $869 | - |
| 1986 | $17,137 | - | $628 | - |
| 1987 | $21,296 | - | $588 | - |
| 1988 | $22,525 | - | $540 | - |
| 1989 | $21,882 | - | $465 | - |
| 1990 | $26,886 | $18,227 | $556 | $2,017 |
| 1991 | $27,003 | $19,055 | $597 | $2,038 |
| 1992 | $29,579 | $19,818 | $509 | $2,124 |
| 1993 | $27,582 | $20,204 | $540 | $2,075 |
| 1994 | $29,968 | $21,655 | $745 | $2,026 |
| 1995 | $35,321 | $22,662 | $1,272 | $2,013 |
| 1996 | $35,622 | $23,714 | $1,633 | $2,081 |
| 1997 | $32,780 | $24,881 | $1,720 | $2,123 |
| 1998 | $33,346 | $25,797 | $1,822 | $2,146 |
| 1999 | $33,426 | $26,642 | $481 | $2,132 |
| 2000 | $30,722 | $28,642 | $547 | $2,229 |
| 2001 | $30,768 | $29,462 | $566 | $2,349 |
| 2002 | $33,257 | $30,667 | $712 | $2,677 |
| 2003 | $40,519 | $30,868 | $763 | $2,851 |
| 2004 | $46,625 | $33,020 | $962 | $3,111 |
| 2005 | $48,926 | $34,238 | $1,211 | $3,322 |
| 2006 | $52,119 | $37,400 | $1,600 | $3,533 |
| 2007 | $58,632 | $39,112 | $1,816 | $3,762 |
| 2008 | $64,617 | $41,467 | $2,154 | $3,982 |
| 2009 | $58,413 | $40,503 | $1,820 | $4,209 |
| 2010 | $58,105 | $43,042 | $2,202 | $4,475 |
| 2011 | $61,810 | $44,444 | $2,418 | $4,676 |
| 2012 | $58,444 | $44,755 | $2,633 | $4,737 |
| 2013 | $61,378 | $46,869 | $2,873 | $4,974 |
| 2014 | $62,520 | $47,880 | $3,089 | $5,252 |
| 2015 | $53,094 | $48,910 | $2,586 | $5,189 |
| 2016 | $54,501 | $51,821 | $2,070 | $5,022 |
| 2017 | $57,522 | $55,272 | $1,876 | $4,997 |
| 2018 | $61,325 | $57,234 | $2,058 | $5,083 |
| 2019 | $59,404 | $60,595 | $2,265 | $5,362 |
| 2020 | $60,985 | $62,682 | $2,020 | $5,354 |
| 2021 | $69,728 | $69,715 | $2,017 | $5,492 |
| 2022 | $68,091 | $77,400 | $2,139 | $5,949 |
| 2023 | $68,454 | $73,737 | $1,597 | $6,207 |
| 2024 | $71,852 | $79,514 | $807 | $6,440 |
Spending and national debt comparison
In 2024, Denmark's government spending was $200B, accounting for 48.4% of its GDP, while Nigeria's spent $33.4B, or 18.5% of GDP.
Debt-to-GDP ratio is 26.6% in Denmark and 52.5% in Nigeria, ranking 166/185 and 104/185, respectively.
| Year | % of GDP | |||
|---|---|---|---|---|
|
Denmark
|
Nigeria
|
|||
| Government spending | Government debt | Government spending | Government debt | |
| 1960 | 16.4% | 20.1% | - | - |
| 1961 | 15.6% | 16.4% | - | - |
| 1962 | 17% | 15.3% | - | - |
| 1963 | 18.2% | 13.7% | - | - |
| 1964 | 17.6% | 14.5% | - | - |
| 1965 | 17.1% | 12.9% | - | - |
| 1966 | 21.1% | 11.2% | - | - |
| 1967 | 22.2% | 10.1% | - | - |
| 1968 | 24.3% | 9.36% | - | - |
| 1969 | 25.3% | 8.36% | - | - |
| 1970 | 24.4% | 7.62% | - | - |
| 1971 | 42.2% | 12.9% | - | - |
| 1972 | 42.1% | 11.5% | - | - |
| 1973 | 39.5% | 8.94% | - | - |
| 1974 | 43.6% | 6.2% | - | - |
| 1975 | 45.3% | 7.01% | - | - |
| 1976 | 45% | 11.4% | - | - |
| 1977 | 45.6% | 15.2% | - | - |
| 1978 | 47.2% | 25.5% | - | - |
| 1979 | 49.6% | 31.8% | - | - |
| 1980 | 52.7% | 39.2% | - | - |
| 1981 | 56.3% | 51.7% | - | - |
| 1982 | 57.7% | 64.5% | - | - |
| 1983 | 57.9% | 74.2% | - | - |
| 1984 | 56.6% | 77.7% | - | - |
| 1985 | 55.5% | 74.7% | - | - |
| 1986 | 52.3% | 66.8% | - | - |
| 1987 | 54% | 62.5% | - | - |
| 1988 | 56.1% | 64.7% | - | - |
| 1989 | 56.2% | 62.2% | - | - |
| 1990 | 55.1% | 62.4% | 20% | 71.7% |
| 1991 | 55.5% | 63.2% | 19.2% | 75% |
| 1992 | 56.4% | 66.7% | 22.5% | 70.2% |
| 1993 | 59.5% | 78.7% | 28.2% | 71% |
| 1994 | 59.5% | 75.3% | 17% | 55.9% |
| 1995 | 58.7% | 71.5% | 12.5% | 34% |
| 1996 | 58.2% | 68.3% | 11.1% | 25.2% |
| 1997 | 56.2% | 64.4% | 13.6% | 24.1% |
| 1998 | 55.6% | 60.3% | 15.7% | 22.3% |
| 1999 | 54.7% | 56.8% | 21% | 64.9% |
| 2000 | 52.9% | 53.6% | 24.7% | 57.6% |
| 2001 | 53% | 50.1% | 30.9% | 53.1% |
| 2002 | 53.1% | 50.3% | 19.4% | 43.3% |
| 2003 | 53.5% | 48.2% | 23.2% | 42.1% |
| 2004 | 52.8% | 46.2% | 18.3% | 35.5% |
| 2005 | 51.1% | 39.4% | 17.8% | 18.9% |
| 2006 | 49.7% | 33.2% | 12.3% | 9.4% |
| 2007 | 49.5% | 29.5% | 18.1% | 8.12% |
| 2008 | 50.3% | 35.5% | 14.4% | 7.28% |
| 2009 | 56.3% | 43% | 15.4% | 8.62% |
| 2010 | 56.5% | 46.1% | 16.6% | 9.39% |
| 2011 | 56.3% | 50% | 17.3% | 17.4% |
| 2012 | 57.9% | 48.7% | 14.8% | 17.6% |
| 2013 | 55.6% | 47.8% | 14.1% | 18.3% |
| 2014 | 55.1% | 48.7% | 13.4% | 18.2% |
| 2015 | 54.4% | 44.6% | 11% | 21% |
| 2016 | 52.4% | 41.7% | 9.76% | 24.5% |
| 2017 | 50.6% | 40.2% | 12% | 25.4% |
| 2018 | 50.8% | 38.5% | 12.8% | 28.7% |
| 2019 | 49.8% | 38.3% | 12.5% | 30.2% |
| 2020 | 53.3% | 46.3% | 12.1% | 35.6% |
| 2021 | 49.4% | 40.5% | 12.6% | 36.8% |
| 2022 | 44.9% | 34.1% | 14.4% | 40.4% |
| 2023 | 46.8% | 33.6% | 13.9% | 48.7% |
| 2024 | 46.5% | 28% | 17.8% | 52.9% |
| 2025 | 48.4% | 26.6% | 18.5% | 52.5% |
Government deficit by year
In 2024, Denmark's government surplus, the difference between spending and revenue, was $19.3B, equivalent to 4.5% of GDP. This compares to Nigeria's deficit of -$6.32B, or -3.37% of GDP.
Over the past 35 years, Denmark recorded a fiscal deficit in 15 of those years, while Nigeria ran a deficit in 24 years. On average, Denmark posted an annual surplus equal to +0.44% of GDP, compared to deficit of -1.37% of GDP for Nigeria.
| Year | Deficit/surplus, % of GDP | |
|---|---|---|
|
Denmark
|
Nigeria
|
|
| 1880 | -2.65% | - |
| 1881 | 0.42% | - |
| 1882 | 0.35% | - |
| 1883 | 0.73% | - |
| 1884 | 1.2% | - |
| 1885 | 0.48% | - |
| 1886 | -0.39% | - |
| 1887 | -0.68% | - |
| 1888 | -0.49% | - |
| 1889 | -0.55% | - |
| 1890 | -0.97% | - |
| 1891 | -0.76% | - |
| 1892 | -0.73% | - |
| 1893 | -0.42% | - |
| 1894 | -0.26% | - |
| 1895 | -0.17% | - |
| 1896 | -0.07% | - |
| 1897 | -0.61% | - |
| 1898 | -0.43% | - |
| 1899 | -0.59% | - |
| 1900 | -0.84% | - |
| 1901 | -0.71% | - |
| 1902 | -0.06% | - |
| 1903 | 0.03% | - |
| 1904 | -0.1% | - |
| 1905 | 0.22% | - |
| 1906 | -0.42% | - |
| 1907 | 0.26% | - |
| 1908 | -0.82% | - |
| 1909 | -2.49% | - |
| 1910 | -1.72% | - |
| 1911 | -1.02% | - |
| 1912 | 0.13% | - |
| 1913 | 0.07% | - |
| 1914 | 0.43% | - |
| 1915 | -0.48% | - |
| 1916 | 1.51% | - |
| 1917 | 3.1% | - |
| 1918 | 1.95% | - |
| 1919 | -0.38% | - |
| 1920 | -0.46% | - |
| 1921 | -2.41% | - |
| 1922 | -1.33% | - |
| 1923 | -0.56% | - |
| 1924 | -0.8% | - |
| 1925 | -3.1% | - |
| 1926 | -0.48% | - |
| 1927 | -2.33% | - |
| 1928 | -4.99% | - |
| 1929 | 0.13% | - |
| 1930 | 0.03% | - |
| 1931 | -1.67% | - |
| 1932 | -3.22% | - |
| 1933 | 1.69% | - |
| 1934 | 0.03% | - |
| 1935 | -0.97% | - |
| 1936 | -1.36% | - |
| 1937 | 0.22% | - |
| 1938 | 0.03% | - |
| 1939 | 0% | - |
| 1940 | 0% | - |
| 1941 | 0% | - |
| 1942 | 0% | - |
| 1943 | 0% | - |
| 1944 | 0% | - |
| 1945 | -1.03% | - |
| 1946 | 2.69% | - |
| 1947 | 0.84% | - |
| 1948 | 1.07% | - |
| 1949 | 0.63% | - |
| 1950 | 1.08% | - |
| 1951 | 0.79% | - |
| 1952 | 1.18% | - |
| 1953 | 1.75% | - |
| 1954 | -0.84% | - |
| 1955 | -1.17% | - |
| 1956 | -0.01% | - |
| 1957 | 0.26% | - |
| 1958 | 0.25% | - |
| 1959 | 0.79% | - |
| 1960 | 1.25% | - |
| 1961 | 1.73% | - |
| 1962 | -0.09% | - |
| 1963 | 1.2% | - |
| 1964 | 1.79% | - |
| 1965 | 2.13% | - |
| 1966 | 0.99% | - |
| 1967 | 1.49% | - |
| 1968 | -0.06% | - |
| 1969 | 0.3% | - |
| 1970 | 0.7% | - |
| 1971 | 4.96% | - |
| 1972 | 5.01% | - |
| 1973 | 4.97% | - |
| 1974 | 3.7% | - |
| 1975 | -1.23% | - |
| 1976 | 0.19% | - |
| 1977 | 0.37% | - |
| 1978 | 0.41% | - |
| 1979 | -0.69% | - |
| 1980 | -2.32% | - |
| 1981 | -5.84% | - |
| 1982 | -8.22% | - |
| 1983 | -6.29% | - |
| 1984 | -3.58% | - |
| 1985 | -1.38% | - |
| 1986 | 3.23% | - |
| 1987 | 2.46% | - |
| 1988 | 1.46% | - |
| 1989 | 0.3% | - |
| 1990 | -1.78% | -0.67% |
| 1991 | -3.15% | -1.66% |
| 1992 | -2.6% | 1.33% |
| 1993 | -3.73% | -8.55% |
| 1994 | -3.85% | -4.17% |
| 1995 | -3.5% | 3.55% |
| 1996 | -2.4% | 4.75% |
| 1997 | -1.22% | 1.6% |
| 1998 | -0.28% | -4.89% |
| 1999 | 1.06% | -1.96% |
| 2000 | 1.79% | 4.07% |
| 2001 | 1.13% | -3.22% |
| 2002 | 0.25% | 1.34% |
| 2003 | 0.14% | -2.2% |
| 2004 | 2.23% | 5.49% |
| 2005 | 5.2% | 4.91% |
| 2006 | 5.29% | 8.76% |
| 2007 | 5.31% | -1.12% |
| 2008 | 3.46% | 5.7% |
| 2009 | -2.75% | -5.33% |
| 2010 | -2.52% | -4.17% |
| 2011 | -1.77% | 0.43% |
| 2012 | -3.2% | -0.13% |
| 2013 | -0.94% | -2.66% |
| 2014 | 1.43% | -2.43% |
| 2015 | -0.9% | -3.8% |
| 2016 | 0.3% | -4.64% |
| 2017 | 1.69% | -5.41% |
| 2018 | 0.81% | -4.31% |
| 2019 | 4.28% | -4.66% |
| 2020 | 0.36% | -5.58% |
| 2021 | 4.1% | -5.48% |
| 2022 | 3.44% | -5.42% |
| 2023 | 3.31% | -4.19% |
| 2024 | 4.5% | -3.37% |
| 2025 | 1.2% | -4.48% |
Inflation comparison by year
Over the past 29 years, Denmark has recorded an average annual inflation rate of 1.95%, compared with 13.9% in Nigeria. In 2024, inflation was 1.37% in Denmark and 33.2% in Nigeria.
| Year | Inflation | ||
|---|---|---|---|
|
Denmark
|
Nigeria
|
Denmark
|
Nigeria
|
| 1996 | 2.13% | 29.3% | |
| 1997 | 2.18% | 8.53% | |
| 1998 | 1.85% | 10% | |
| 1999 | 2.5% | 6.62% | |
| 2000 | 2.9% | 6.93% | |
| 2001 | 2.34% | 18.9% | |
| 2002 | 2.42% | 12.9% | |
| 2003 | 2.08% | 14% | |
| 2004 | 1.15% | 15% | |
| 2005 | 1.82% | 17.9% | |
| 2006 | 1.92% | 8.23% | |
| 2007 | 1.69% | 5.39% | |
| 2008 | 3.42% | 11.6% | |
| 2009 | 1.3% | 12.5% | |
| 2010 | 2.31% | 13.7% | |
| 2011 | 2.76% | 10.8% | |
| 2012 | 2.4% | 12.2% | |
| 2013 | 0.79% | 8.5% | |
| 2014 | 0.56% | 8.05% | |
| 2015 | 0.45% | 9.01% | |
| 2016 | 0.25% | 15.7% | |
| 2017 | 1.15% | 16.5% | |
| 2018 | 0.81% | 12.1% | |
| 2019 | 0.76% | 11.4% | |
| 2020 | 0.42% | 13.2% | |
| 2021 | 1.85% | 17% | |
| 2022 | 7.7% | 18.8% | |
| 2023 | 3.31% | 24.7% | |
| 2024 | 1.37% | 33.2% | |
Top exports between countries
|
Denmark
|
|
|---|---|
| Export category | Export value |
| Transport & tourism services | $178M |
| Metals | $59M |
| Machinery & equipment | $20.7M |
| Chemicals & pharma | $16.9M |
| Business & finance services | $9.94M |
| Processed food, beverages & tobacco | $9.04M |
| IT & IP services | $4.84M |
| Animal & marine products | $2.98M |
| Textiles & consumer goods | $2.77M |
| Raw agricultural goods | $2.15M |
|
Nigeria
|
|
|---|---|
| Export category | Export value |
| Raw materials & minerals | $169M |
| Machinery & equipment | $26.1M |
| Raw agricultural goods | $536K |
| Processed food, beverages & tobacco | $12K |
| Textiles & consumer goods | $4K |
| Animal & marine products | $2K |
Balance of trade
|
Denmark
|
Nigeria
|
|
|---|---|---|
Current account balance
|
$52.1B
2024 |
$17.2B
2024 |
| Current account balance ranking |
11/189
2024 |
20/189
2024 |
| Current account balance, % of GDP |
+12.1%
2024 |
+9.17%
2024 |
| Goods imports |
$132B
2024 |
$39.8B
2024 |
| Goods exports |
$172B
2024 |
$53B
2024 |
| Service imports |
$125B
2024 |
$17.9B
2024 |
| Service exports |
$129B
2024 |
$4.57B
2024 |
| Imports of goods and services, % of GDP |
58.9%
2024 |
16.9%
1960 |
| Exports of goods and services, % of GDP |
69.7%
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.
|
Denmark
|
Nigeria
|
|
|---|---|---|
| Economic freedom | 79.1 | 53.4 |
| Economic freedom ranking | 8/197 | 141/197 |
| Property rights | 99.3 | 25.4 |
| Government integrity | 98 | 22.4 |
| Judicial effectiveness | 90.5 | 34.1 |
| Tax burden | 45 | 85.1 |
| Government spending | 33.6 | 94.5 |
| Fiscal health | 98.2 | 55.4 |
| Business freedom | 93 | 38.5 |
| Labor freedom | 64.9 | 72.8 |
| Monetary freedom | 76.6 | 59.9 |
| Trade freedom | 79.6 | 67.6 |
| Investment freedom | 90 | 45 |
| Financial freedom | 80 | 40 |
Economic freedom by year comparison
The Economic Freedom Index for Denmark is 79.1, ranking 8/197, compared to 53.4 for Nigeria, ranking 141/197. The chart below displays a comparison of annual changes in economic freedom indexes.
| Year | Economic freedom index | |
|---|---|---|
|
Denmark
|
Nigeria
|
|
| 1995 | - | 47.3 |
| 1996 | 67.3 | 47.4 |
| 1997 | 67.5 | 52.8 |
| 1998 | 67.5 | 52.3 |
| 1999 | 68.1 | 55.7 |
| 2000 | 68.3 | 53.1 |
| 2001 | 68.3 | 49.6 |
| 2002 | 71.1 | 50.9 |
| 2003 | 73.2 | 49.5 |
| 2004 | 72.4 | 49.2 |
| 2005 | 75.3 | 48.4 |
| 2006 | 75.4 | 48.7 |
| 2007 | 77 | 55.6 |
| 2008 | 79.2 | 55.1 |
| 2009 | 79.6 | 55.1 |
| 2010 | 77.9 | 56.8 |
| 2011 | 78.6 | 56.7 |
| 2012 | 76.2 | 56.3 |
| 2013 | 76.1 | 55.1 |
| 2014 | 76.1 | 54.3 |
| 2015 | 76.3 | 55.6 |
| 2016 | 75.3 | 57.5 |
| 2017 | 75.1 | 57.1 |
| 2018 | 76.6 | 58.5 |
| 2019 | 76.7 | 57.3 |
| 2020 | 78.3 | 57.2 |
| 2021 | 77.8 | 58.7 |
| 2022 | 78 | 54.4 |
| 2023 | 77.6 | 53.9 |
| 2024 | 77.8 | 53.1 |
| 2025 | 79.1 | 53.4 |
More economic indicators
|
Denmark
|
Nigeria
|
|
|---|---|---|
| Services, % of GDP |
64%
2024 |
47%
2024 |
| Industry, % of GDP |
24%
2024 |
29.6%
2024 |
| Agriculture, forestry, and fishing, % of GDP |
0.74%
2024 |
20.4%
2024 |
|
GNI, Atlas method
|
$441B
2024 |
$291B
2024 |
| GNI per capita, PPP |
$82,240
2024 |
$6,210
2024 |
| Total reserves including gold |
$108B
2024 |
$38.6B
2024 |
| Total reserves ranking |
25/177
2024 |
51/177
2024 |
|
Net foreign direct investment
|
$11.9B
2024 |
-$672M
2024 |
|
Net inflows of foreign direct investment
|
$18.5B
2024 |
$1.08B
2024 |
|
Net outflows of foreign direct investment
|
$30.4B
2024 |
$408M
2024 |
|
Servicing debt to the IMF, % of GNI
|
n/a |
2.61%
2023 |
| Poverty at national poverty lines |
12.4%
2021 |
56.2%
2023 |
|
Gross capital formation, % of GDP
|
21.6%
2024 |
n/a |
GDP per capita map
GDP per capita
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Economy comparisons
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.