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Economy of Dominica vs Nigeria compared: GDP & Debt

Updated on by Georank team

Dominica has a GDP of $689M compared to $252B for Nigeria, ranking 190/197 and 54/197 by economy size, respectively.

Dominica has $713M in government debt (103.5% of GDP), compared to $99.2B (39.3% of GDP) in Nigeria.

Dominica vs Nigeria GDP by year

Dominica
Nigeria
1x
Year GDP, current $
Dominica Nigeria
2024 $688,881,481 $252,261,880,141
2023 $659,311,111 $487,387,801,881
2022 $623,062,963 $646,950,257,578
2021 $562,911,111 $609,147,716,973
2020 $528,944,444 $598,586,817,819
2019 $644,259,259 $668,219,992,691
2018 $628,244,444 $421,739,251,509
2017 $563,355,556 $375,745,731,053
2016 $612,711,111 $404,649,125,252
2015 $583,177,778 $493,026,682,801
2014 $572,255,556 $574,183,763,412
2013 $545,325,926 $520,117,180,314
2012 $520,355,556 $463,971,018,239
2011 $532,081,481 $414,466,676,831
2010 $519,859,259 $366,990,417,129
2009 $515,618,519 $295,008,835,381
2008 $480,003,704 $339,476,276,258
2007 $444,685,185 $278,260,846,800
2006 $416,674,074 $238,454,997,161
2005 $391,455,556 $175,670,569,969
2004 $396,711,111 $135,764,731,646
2003 $373,318,519 $104,738,954,264
2002 $375,200,000 $95,054,059,303
2001 $377,462,963 $73,557,840,064
2000 $333,470,370 $69,171,451,627
1999 $331,759,259 $59,145,077,039
1998 $322,411,111 $218,416,200,673
1997 $302,988,889 $200,850,397,618
1996 $292,285,185 $185,730,236,700
1995 $274,522,222 $140,919,776,986
1994 $264,374,074 $80,399,613,064
1993 $245,525,926 $56,721,051,402
1992 $234,059,259 $52,058,181,854
1991 $219,762,963 $59,526,833,412
1990 $201,429,630 $54,035,795,388
1989 $185,137,243 $44,003,061,108
1988 $171,106,184 $49,648,470,440
1987 $151,868,754 $52,676,041,931
1986 $135,161,959 $54,805,852,581
1985 $119,491,933 $73,745,821,158
1984 $109,157,071 $73,484,359,521
1983 $98,665,191 $97,094,911,792
1982 $89,527,577 $142,769,363,314
1981 $82,107,391 $164,475,209,516
1980 $72,804,653 $64,201,788,123
1979 $55,017,759 $47,259,911,894
1978 $57,130,216 $36,527,862,209
1977 $45,872,947 $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/dominica/nigeria | CC BY

GDP per capita in Dominica vs Nigeria by year

Dominica
GDP per capita

GDP per capita, PPP
Nigeria
GDP per capita

GDP per capita, PPP
1x
Year Current $
Dominica Nigeria
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $10,405 $21,301 $1,084 $9,087
2023 $9,913 $20,286 $2,139 $8,705
2022 $9,324 $18,802 $2,899 $8,305
2021 $8,376 $15,809 $2,787 $7,588
2020 $7,828 $14,244 $2,797 $7,415
2019 $9,491 $16,021 $3,190 $7,551
2018 $9,215 $15,070 $2,058 $7,158
2017 $8,225 $12,696 $1,876 $7,037
2016 $8,803 $12,945 $2,070 $7,072
2015 $8,283 $12,093 $2,586 $7,308
2014 $8,132 $12,083 $3,089 $7,396
2013 $7,822 $11,286 $2,873 $7,004
2012 $7,529 $10,921 $2,633 $6,671
2011 $7,705 $11,123 $2,418 $6,585
2010 $7,550 $10,924 $2,202 $6,301
2009 $7,487 $10,804 $1,820 $5,927
2008 $6,971 $10,862 $2,154 $5,607
2007 $6,459 $9,949 $1,816 $5,298
2006 $6,056 $9,200 $1,600 $4,975
2005 $5,695 $8,557 $1,211 $4,678
2004 $5,779 $8,232 $962 $4,381
2003 $5,447 $7,714 $763 $4,015
2002 $5,488 $7,167 $712 $3,770
2001 $5,528 $7,291 $566 $3,309
2000 $4,867 $7,111 $547 $3,139
1999 $4,817 $6,759 $481 $3,002
1998 $4,664 $6,617 $1,822 $3,022
1997 $4,372 $6,290 $1,720 $2,990
1996 $4,211 $6,041 $1,633 $2,931
1995 $3,952 $5,749 $1,272 $2,835
1994 $3,805 $5,465 $745 $2,853
1993 $3,536 $5,352 $540 $2,921
1992 $3,376 $5,125 $509 $2,991
1991 $3,171 $4,914 $597 $2,870
1990 $2,893 $4,667 $556 $2,840
1989 $2,639 - $465 -
1988 $2,423 - $540 -
1987 $2,138 - $588 -
1986 $1,893 - $628 -
1985 $1,666 - $869 -
1984 $1,515 - $890 -
1983 $1,363 - $1,207 -
1982 $1,232 - $1,822 -
1981 $1,125 - $2,162 -
1980 $996 - $870 -
1979 $754 - $661 -
1978 $786 - $527 -
1977 $634 - $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/dominica/nigeria | CC BY

Dominica's GDP per capita is $10,405, ranking 84/197, compared to $1,084 in Nigeria, ranking 174/197. Adjusted for purchasing power (GDP per capita PPP), Dominica ranks 91st at $21,301, while Nigeria ranks 136th at $9,087.

Economic indicators

Dominica Nigeria
Gross domestic product
$689M
2024
$252B
2024
GDP rank
190/197
2024
54/197
2024
GDP growth
2.05%
2023-2024
4.06%
2023-2024
GDP per capita
$10,405
2024
$1,084
2024
GDP per capita rank
84/197
2024
174/197
2024
GDP per capita, PPP
$21,301
2024
$9,087
2024
GDP per capita PPP rank
91/197
2024
136/197
2024
Government debt
$713M
2024
$99.2B
2024
Debt-to-GDP ratio
103.5%
2024
39.3%
2024
Government debt per person
$10,765
2024
$426
2024
Government debt per person rank
55/185
2024
170/185
2024
Average annual personal income after taxes
$6,045
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% n/a
26.3%
2022
Income share by poorest 10% n/a
3%
2022
Government expenditure, % of GDP
60.9%
2024
12.3%
2024
Consumer prices inflation
2.57%
2023-2024
33.2%
2023-2024
Central bank interest rate n/a
27%
2025
Unemployment rate
11%
2001
3.45%
2024
Population
65539
243824469

Spending and national debt comparison by year

Dominica
Spending

Debt
Nigeria
Spending

Debt
1x
Year % of GDP
Dominica Nigeria
Government spending Government debt Government spending Government debt
2024 60.9% 103.5% 12.3% 39.3%
2023 66.8% 103.2% 10.4% 36.3%
2022 72.7% 108.3% 10.6% 29.8%
2021 70.1% 113.6% 9.09% 26.6%
2020 70.1% 118.2% 8.73% 25.7%
2019 44% 89.1% 8.87% 21.4%
2018 66.7% 90% 9.1% 20.4%
2017 55.7% 86.7% 8.51% 18%
2016 45.8% 72.9% 6.93% 17.4%
2015 33.5% 71.1% 7.85% 14.9%
2014 33.3% 73.5% 9.49% 12.9%
2013 34.2% 75.6% 10% 13%
2012 36.6% 74% 10.5% 12.5%
2011 34.7% 68.6% 12.3% 12.4%
2010 39.7% 67.3% 11.8% 6.67%
2009 36.1% 62.8% 11% 6.12%
2008 35.9% 66.5% 10.2% 5.17%
2007 35.6% 74.9% 12.9% 5.76%
2006 30.9% 80.4% 8.75% 6.68%
2005 32.1% 84.9% 12.6% 13.4%
2004 30.1% 85.8% 13% 25.2%
2003 31.2% 98.2% 16.5% 29.9%
2002 29% 99.4% 13.8% 30.7%
2001 29.3% 97.5% 21.9% 37.7%
2000 38.9% 69.6% 17.6% 40.9%
1999 35.3% 62% 14.9% 46.1%
1998 33.5% 57.1% 11.2% 15.8%
1997 29.1% 49.3% 9.68% 17.1%
1996 29% 54.7% 7.87% 17.9%
1995 29.7% 59.3% 8.87% 24.2%
1994 27.7% 57% 12.1% 39.7%
1993 26.1% 55.4% 20% 50.4%
1992 28% 55.3% 15.9% 49.8%
1991 29.9% 58.7% 13.6% 53.2%
1990 32.9% 56.6% 14.2% 50.9%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20).

GeoRank.org/economy/dominica/nigeria | CC BY

In 2024, Dominica's government spending was $420M, accounting for 60.9% of its GDP, while Nigeria spent $31.1B, or 12.3% of GDP.

Debt-to-GDP ratio is 103.5% in Dominica and 39.3% in Nigeria, ranking 20/185 and 135/185, respectively.

Government deficit by year

Deficit/surplus
Dominica

Nigeria
1x
Year Deficit/surplus, % of GDP
Dominica Nigeria
2024 -2.28% -1.57%
2023 -4.66% -3.12%
2022 -7.49% -4%
2021 -8.61% -3.97%
2020 -7.91% -4.03%
2019 -7.95% -3.31%
2018 -18.1% -3.06%
2017 -3.37% -3.85%
2016 11% -3.3%
2015 11.8% -2.7%
2014 -5.65% -1.72%
2013 -2.95% -1.89%
2012 -5.48% -0.09%
2011 -4.34% 0.31%
2010 -3.41% -2.96%
2009 -0.31% -3.78%
2008 0.72% 4.05%
2007 1.88% -0.79%
2006 3.04% 6.22%
2005 0.98% 3.49%
2004 -0.67% 3.9%
2003 0.88% -1.56%
2002 -4.13% 0.95%
2001 -6.48% -2.29%
2000 -8.75% 2.89%
1999 -9.2% -1.39%
1998 -6.08% -3.47%
1997 -2.31% 1.14%
1996 -1.62% 3.37%
1995 -2.97% 2.52%
1994 -3.42% -2.96%
1993 -1.46% -6.07%
1992 -2.28% 0.94%
1991 -3.08% -1.18%
1990 -4.87% -0.48%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20).

GeoRank.org/economy/dominica/nigeria | CC BY

In 2024, Dominica's government deficit, the difference between spending and revenue, was $15.7M, equivalent to 2.28% of GDP. This compares to Nigeria's deficit of $3.95B, or 1.57% of GDP.

Over the past 35 years, Dominica recorded a fiscal deficit in 28 of those years, while Nigeria ran a deficit in 24 years. On average, Dominica posted an annual deficit equal to 3.13% of GDP, compared to deficit of 0.97% of GDP for Nigeria.

Inflation comparison by year

Inflation
Dominica

Nigeria
1x
Year Consumer prices inflation
Dominica Nigeria
2024 2.57% 33.2%
2023 5.09% 24.7%
2022 2.88% 18.8%
2021 2.23% 17%
2020 1.22% 13.2%
2019 1.5% 11.4%
2018 0.99% 12.1%
2017 0.3% 16.5%
2016 0.14% 15.7%
2015 -0.84% 9.01%
2014 0.8% 8.05%
2013 -0.05% 8.5%
2012 1.36% 12.2%
2011 1.13% 10.8%
2010 3% 13.7%
2009 0.006% 12.5%
2008 6.36% 11.6%
2007 3.63% 5.39%
2006 2.2% 8.23%
2005 1.68% 17.9%
2004 2.39% 15%
2003 1.45% 14%
2002 0.17% 12.9%
2001 1.3% 18.9%
2000 0.86% 6.93%
1999 1.18% 6.62%
1998 1% 10%
1997 2.44% 8.53%

Data sources: World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06).

GeoRank.org/economy/dominica/nigeria | CC BY

Over the past 28 years, Dominica has recorded an average annual inflation rate of 1.68%, compared with 13.3% in Nigeria. In 2024, inflation was 2.57% in Dominica and 33.2% in Nigeria.

Top exports between countries

Dominica
Export category Export value
Nigeria
Export category Export value
Chemicals & pharma $194K
Textiles & consumer goods $110K

Balance of trade

Dominica Nigeria
Current account balance
-$160M
2024
$17.2B
2024
Current account balance ranking
94/190
2024
20/190
2024
Current account balance, % of GDP
-23.2%
2024
+6.82%
2024
Goods imports
$231M
2024
$39.8B
2024
Goods exports
$22M
2024
$53B
2024
Service imports
$157M
2024
$17.9B
2024
Service exports
$191M
2024
$4.57B
2024
Imports of goods and services, % of GDP n/a
16.9%
1960
Exports of goods and services, % of GDP
8.5%
2025
9.24%
1960

Economic freedom indices

The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.

Dominica Nigeria
Economic freedom 56.1 54.8
Economic freedom ranking 124/197 132/197
Property rights 65.8 29.7
Government integrity 61.2 23.5
Judicial effectiveness 77.3 34.4
Tax burden 76.1 84.6
Government spending 0 96.3
Fiscal health 45.6 83.5
Business freedom 66.2 50.3
Labor freedom 49.8 75.4
Monetary freedom 77.7 56.1
Trade freedom 53.2 64.4
Investment freedom 60 30
Financial freedom 40 30

Economic freedom comparison by year

Dominica
Nigeria
1x
Year Economic freedom index
Dominica Nigeria
2026 56.1 54.8
2025 55.3 53.4
2024 54 53.1
2023 59.7 53.9
2022 54.4 54.4
2021 53 58.7
2020 60.8 57.2
2019 63.6 57.3
2018 64.5 58.5
2017 63.7 57.1
2016 67 57.5
2015 66.1 55.6
2014 65.2 54.3
2013 63.9 55.1
2012 61.6 56.3
2011 63.3 56.7
2010 63.2 56.8
2009 62.6 55.1
2008 - 55.1
2007 - 55.6
2006 - 48.7
2005 - 48.4
2004 - 49.2
2003 - 49.5
2002 - 50.9
2001 - 49.6
2000 - 53.1
1999 - 55.7
1998 - 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/dominica/nigeria | CC BY

The Economic Freedom Index for Dominica is 56.1, ranking 124/197, 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

Dominica Nigeria
Services, % of GDP
56.9%
2024
53.7%
2024
Industry, % of GDP
13.9%
2024
18.2%
2024
Agriculture, forestry, and fishing, % of GDP
12.2%
2024
25.9%
2024
GNI, Atlas method
$677M
2024
$396B
2024
GNI per capita, PPP
$21,410
2024
$8,850
2024
Total reserves including gold
$156M
2024
$38.6B
2024
Total reserves ranking
172/177
2024
51/177
2024
Net foreign direct investment
-$36.4M
2024
-$672M
2024
Net inflows of foreign direct investment
$60M
2024
$1.08B
2024
Net outflows of foreign direct investment
-$401K
2024
$408M
2024
Servicing debt to the IMF, % of GNI
9.52%
2024
5.48%
2024
Poverty at national poverty lines
29%
2020
56.2%
2023

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/dominica/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 (2021–2022, retrieved 2026-02-08)
  6. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  7. LivingCost (2026, retrieved 2025-10-14)
  8. Central Intelligence Agency (CIA) (2020, retrieved 2026-02-20)

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.