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Economy of Ecuador vs Nigeria compared: GDP & Debt

Updated on by Georank

Ecuador has a GDP of $130B compared to $291B for Nigeria, ranking 64/197 and 50/197 by economy size, respectively.

Ecuador has $70.9B in government debt (54.4% of GDP), compared to $103B (35.5% of GDP) in Nigeria.

Ecuador vs Nigeria GDP by year

Ecuador
Nigeria
1x
Year GDP, current $
Ecuador Nigeria
2025 $130,320,560,400 $290,794,361,542
2024 $123,802,374,000 $252,261,880,140
2023 $120,792,801,000 $487,387,801,878
2022 $116,133,121,000 $646,950,257,575
2021 $107,179,074,000 $609,147,716,965
2020 $95,865,473,000 $598,586,817,817
2019 $107,595,830,000 $668,219,992,687
2018 $107,478,961,000 $421,739,251,509
2017 $104,467,486,000 $375,745,731,053
2016 $97,671,433,000 $404,649,125,252
2015 $97,209,558,000 $493,026,682,801
2014 $102,717,794,000 $574,183,763,412
2013 $96,570,334,000 $520,117,180,314
2012 $87,735,048,000 $463,971,018,239
2011 $78,986,648,000 $414,466,676,831
2010 $68,151,329,000 $366,990,417,129
2009 $60,094,978,000 $295,008,835,381
2008 $61,139,438,000 $339,476,276,258
2007 $49,848,725,000 $278,260,846,800
2006 $45,690,762,000 $238,454,997,161
2005 $40,278,849,000 $175,670,569,969
2004 $35,194,947,000 $135,764,731,646
2003 $30,965,208,000 $104,738,954,264
2002 $27,054,197,000 $95,054,059,303
2001 $23,127,055,000 $73,557,840,064
2000 $17,539,454,727 $69,171,451,627
1999 $19,645,272,636 $59,145,077,039
1998 $27,981,896,948 $218,416,200,673
1997 $28,162,053,027 $200,850,397,618
1996 $25,226,393,197 $185,730,236,700
1995 $24,432,884,442 $140,919,776,986
1994 $22,708,673,337 $80,399,613,064
1993 $18,938,717,359 $56,721,051,402
1992 $18,094,238,119 $52,058,181,854
1991 $16,988,535,268 $59,526,833,412
1990 $15,239,272,612 $54,035,795,388
1989 $13,890,823,705 $44,003,061,108
1988 $13,051,881,851 $49,648,470,440
1987 $13,945,426,859 $52,676,041,931
1986 $15,314,138,472 $54,805,852,581
1985 $17,149,088,413 $73,745,821,158
1984 $16,912,509,092 $73,484,359,521
1983 $17,152,477,037 $97,094,911,792
1982 $19,929,846,396 $142,769,363,314
1981 $21,810,759,354 $164,475,209,516
1980 $17,881,508,242 $64,201,788,123
1979 $14,175,160,902 $47,259,911,894
1978 $11,922,497,876 $36,527,862,209
1977 $11,026,342,618 $36,035,407,725
1976 $9,091,921,030 $36,308,883,249
1975 $7,731,674,472 $27,778,934,625
1974 $6,599,257,044 $24,846,641,318
1973 $3,891,754,150 $15,162,871,287
1972 $3,185,986,087 $12,274,416,018
1971 $2,754,219,271 $9,181,769,912
1970 $2,862,503,139 $12,546,094,982
1969 $3,112,165,727 $6,634,317,346
1968 $2,582,179,864 $5,200,997,920
1967 $2,553,595,172 $5,203,237,919
1966 $2,429,308,639 $6,366,917,453
1965 $2,387,047,396 $5,874,537,650
1964 $2,244,146,103 $5,552,931,319
1963 $1,824,343,871 $5,165,590,254
1962 $1,518,207,703 $4,909,399,176
1961 $1,753,850,955 $4,467,287,893
1960 $2,069,464,937 $4,196,174,502

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

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

GDP per capita in Ecuador vs Nigeria by year

Ecuador
GDP per capita

GDP per capita, PPP
Nigeria
GDP per capita

GDP per capita, PPP
1x
Year Current $
Ecuador Nigeria
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $7,125 - $1,224 -
2024 $6,827 $15,840 $1,084 $9,087
2023 $6,718 $15,919 $2,139 $8,705
2022 $6,516 $15,198 $2,899 $8,305
2021 $6,061 $13,507 $2,787 $7,588
2020 $5,464 $11,527 $2,797 $7,415
2019 $6,205 $12,543 $3,190 $7,551
2018 $6,304 $12,187 $2,058 $7,158
2017 $6,233 $11,793 $1,876 $7,037
2016 $5,918 $10,881 $2,070 $7,072
2015 $5,976 $10,878 $2,586 $7,308
2014 $6,406 $11,836 $3,089 $7,396
2013 $6,109 $11,296 $2,873 $7,004
2012 $5,634 $10,245 $2,633 $6,671
2011 $5,154 $9,769 $2,418 $6,585
2010 $4,520 $8,969 $2,202 $6,301
2009 $4,053 $8,662 $1,820 $5,927
2008 $4,195 $8,663 $2,154 $5,607
2007 $3,479 $8,112 $1,816 $5,298
2006 $3,244 $7,885 $1,600 $4,975
2005 $2,909 $7,457 $1,211 $4,678
2004 $2,586 $6,980 $962 $4,381
2003 $2,316 $6,475 $763 $4,015
2002 $2,059 $6,282 $712 $3,770
2001 $1,791 $5,999 $566 $3,309
2000 $1,382 $5,728 $547 $3,139
1999 $1,575 $5,638 $481 $3,002
1998 $2,284 $5,940 $1,822 $3,022
1997 $2,341 $5,793 $1,720 $2,990
1996 $2,136 $5,560 $1,633 $2,931
1995 $2,108 $5,469 $1,272 $2,835
1994 $1,997 $5,339 $745 $2,853
1993 $1,698 $5,112 $540 $2,921
1992 $1,655 $4,998 $509 $2,991
1991 $1,587 $4,887 $597 $2,870
1990 $1,455 $4,632 $556 $2,840
1989 $1,356 - $465 -
1988 $1,304 - $540 -
1987 $1,426 - $588 -
1986 $1,604 - $628 -
1985 $1,842 - $869 -
1984 $1,864 - $890 -
1983 $1,940 - $1,207 -
1982 $2,314 - $1,822 -
1981 $2,601 - $2,162 -
1980 $2,190 - $870 -
1979 $1,783 - $661 -
1978 $1,541 - $527 -
1977 $1,465 - $536 -
1976 $1,242 - $556 -
1975 $1,086 - $438 -
1974 $954 - $403 -
1973 $579 - $252.4 -
1972 $488 - $209.5 -
1971 $434 - $160.5 -
1970 $465 - $224.5 -
1969 $521 - $121.4 -
1968 $445 - $97.3 -
1967 $454 - $99.5 -
1966 $445 - $124.4 -
1965 $450 - $117.3 -
1964 $436 - $113.3 -
1963 $365 - $107.7 -
1962 $312 - $104.5 -
1961 $371 - $97.1 -
1960 $451 - $93.1 -

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

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

Ecuador's GDP per capita is $7,125, ranking 102/197, compared to $1,224 in Nigeria, ranking 172/197. Adjusted for purchasing power (GDP per capita PPP), Ecuador ranks 110th at $15,840, while Nigeria ranks 136th at $9,087.

Economic indicators

Ecuador Nigeria
Gross domestic product
$130B
2025
$291B
2025
GDP rank
64/197
2025
50/197
2025
GDP growth
3.73%
2024-2025
4.01%
2024-2025
GDP per capita
$7,125
2025
$1,224
2025
GDP per capita rank
102/197
2025
172/197
2025
GDP per capita, PPP
$15,840
2024
$9,087
2024
GDP per capita PPP rank
110/197
2024
136/197
2024
Government debt
$70.9B
2025
$103B
2025
Debt-to-GDP ratio
54.4%
2025
35.5%
2025
Government debt per person
$3,877
2025
$434
2025
Government debt per person rank
94/185
2025
170/185
2025
Average annual personal income after taxes
$6,605
2026
$768
2026
Market capitalization of domestic companies
$747M
2000
$86.9B
2025
Number of billionaires n/a
4
2026
Income share by richest 10%
35.1%
2025
26.3%
2022
Income share by poorest 10%
1.7%
2025
3%
2022
Government expenditure, % of GDP
38.4%
2025
11.7%
2025
Consumer prices inflation
0.71%
2024-2025
23%
2024-2025
Central bank interest rate n/a
26.5%
2026
Unemployment rate
3.23%
2025
3.45%
2024
Population
18524711
245016045

Spending and national debt comparison by year

Ecuador
Spending

Debt
Nigeria
Spending

Debt
1x
Year % of GDP
Ecuador Nigeria
Government spending Government debt Government spending Government debt
2025 38.4% 54.4% 11.7% 35.5%
2024 38.3% 54.1% 12% 39.3%
2023 39.6% 54.5% 10.4% 36.3%
2022 38.9% 57.2% 10.6% 29.8%
2021 37.5% 61.8% 9.09% 26.6%
2020 40.2% 63.6% 8.73% 25.7%
2019 39.8% 52.1% 8.87% 21.4%
2018 40.9% 49.5% 9.1% 20.4%
2017 40.5% 47.4% 8.51% 18%
2016 44.1% 46.1% 6.93% 17.4%
2015 44.1% 36.4% 7.85% 14.9%
2014 45.9% 28.2% 9.49% 15.8%
2013 46.7% 23.4% 10% 13%
2012 43.2% 19.3% 10.5% 12.5%
2011 39.6% 18.6% 12.3% 12.4%
2010 35.4% 18.4% 11.8% 6.67%
2009 34.3% 19.7% 11% 6.12%
2008 35.6% 24.9% 10.2% 5.17%
2007 24.7% 29.6% 12.9% 5.76%
2006 21.7% 33.1% 8.75% 6.68%
2005 22% 35.8% 12.6% 13.4%
2004 21.3% 40.2% 13% 25.2%
2003 21.3% 47.2% 16.5% 29.9%
2002 22.8% 55% 13.8% 30.7%
2001 21.4% 63.8% 21.9% 37.7%
2000 24.3% 92.2% 17.6% 40.9%
1999 24.1% 105.2% 14.9% 46.1%
1998 21.5% 70.3% 11.2% 15.8%
1997 22% 61.5% 9.68% 17.1%
1996 22.7% 69.3% 7.87% 17.9%
1995 22% 70.5% 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 (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1995–2000, retrieved 2026-07-08).

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

In 2025, Ecuador's government spending was $50B, accounting for 38.4% of its GDP, while Nigeria spent $34.1B, or 11.7% of GDP.

Debt-to-GDP ratio is 54.4% in Ecuador and 35.5% in Nigeria, ranking 92/185 and 143/185, respectively.

Government deficit by year

Deficit/surplus
Ecuador

Nigeria
1x
Year Deficit/surplus, % of GDP
Ecuador Nigeria
2025 -2.88% -1.76%
2024 -1.28% -1.27%
2023 -3.49% -3.12%
2022 0.04% -4%
2021 -1.59% -3.97%
2020 -7.38% -4.03%
2019 -3.47% -3.31%
2018 -2.8% -3.06%
2017 -5.77% -3.85%
2016 -10.3% -3.3%
2015 -6.87% -2.7%
2014 -8.11% -1.72%
2013 -8.17% -1.89%
2012 -2.83% -0.09%
2011 -0.13% 0.31%
2010 -1.39% -2.96%
2009 -3.71% -3.78%
2008 0.57% 4.05%
2007 2.66% -0.79%
2006 2.92% 6.22%
2005 0.66% 3.49%
2004 1.94% 3.9%
2003 1.05% -1.56%
2002 0.74% 0.95%
2001 0.03% -2.29%
2000 -0.32% 2.89%
1999 -4.82% -1.39%
1998 -5.1% -3.47%
1997 -2.83% 1.14%
1996 -3.44% 3.37%
1995 -2.02% 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 (1990–2025, retrieved 2026-07-08).

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

In 2025, Ecuador's government deficit, the difference between spending and revenue, was $3.76B, equivalent to 2.88% of GDP. This compares to Nigeria's deficit of $5.12B, or 1.76% of GDP.

Over the past 31 years, Ecuador recorded a fiscal deficit in 22 of those years, while Nigeria ran a deficit in 21 years. On average, Ecuador posted an annual deficit equal to 2.52% of GDP, compared to deficit of 0.82% of GDP for Nigeria.

Inflation comparison by year

Inflation
Ecuador

Nigeria
1x
Year Consumer prices inflation
Ecuador Nigeria
2025 0.71% 23%
2024 1.55% 33.2%
2023 2.22% 24.7%
2022 3.47% 18.8%
2021 0.13% 17%
2020 -0.34% 13.2%
2019 0.27% 11.4%
2018 -0.22% 12.1%
2017 0.42% 16.5%
2016 1.73% 15.7%
2015 3.97% 9.01%
2014 3.59% 8.05%
2013 2.72% 8.5%
2012 5.1% 12.2%
2011 4.47% 10.8%
2010 3.55% 13.7%
2009 5.16% 12.5%
2008 8.4% 11.6%
2007 2.28% 5.39%
2006 3.3% 8.23%
2005 2.17% 17.9%
2004 2.74% 15%
2003 7.93% 14%
2002 12.5% 12.9%
2001 37.7% 18.9%
2000 96.1% 6.93%
1999 52.2% 6.62%
1998 36.1% 10%
1997 30.7% 8.53%

Data sources: World Bank | Economy & Growth (1997–2025, retrieved 2026-07-08).

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

Over the past 29 years, Ecuador has recorded an average annual inflation rate of 11.4%, compared with 13.7% in Nigeria. In 2025, inflation was 0.71% in Ecuador and 23% in Nigeria.

Top exports between countries

Ecuador
Export category Export value
Processed food, beverages & tobacco $219K
Animal & marine products $160K
Raw agricultural goods $68K
Machinery & equipment $49K
Textiles & consumer goods $33K
Chemicals & pharma $13K
Metals $8K
Raw materials & minerals $1K
Nigeria
Export category Export value
Chemicals & pharma $588K
Raw agricultural goods $306K
Textiles & consumer goods $44K

Balance of trade

Ecuador Nigeria
Current account balance
$7.7B
2025
$14B
2025
Current account balance ranking
28/190
2025
21/190
2025
Current account balance, % of GDP
+5.91%
2025
+4.83%
2025
Goods imports
$31.1B
2025
$43B
2025
Goods exports
$37.4B
2025
$57.5B
2025
Service imports
$6.22B
2025
$19.6B
2025
Service exports
$4.14B
2025
$5.06B
2025
Imports of goods and services, % of GDP
27.9%
2025
16.9%
1960
Exports of goods and services, % of GDP
31.4%
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.

Ecuador Nigeria
Economic freedom 55.6 54.8
Economic freedom ranking 127/197 132/197
Property rights 33.2 29.7
Government integrity 33 23.5
Judicial effectiveness 48.1 34.4
Tax burden 74.2 84.6
Government spending 54.9 96.3
Fiscal health 90.3 83.5
Business freedom 64.3 50.3
Labor freedom 56.9 75.4
Monetary freedom 76.3 56.1
Trade freedom 66.4 64.4
Investment freedom 30 30
Financial freedom 40 30

Economic freedom comparison by year

Ecuador
Nigeria
1x
Year Economic freedom index
Ecuador Nigeria
2026 55.6 54.8
2025 55.8 53.4
2024 55 53.1
2023 55 53.9
2022 54.3 54.4
2021 52.4 58.7
2020 51.3 57.2
2019 46.9 57.3
2018 48.5 58.5
2017 49.3 57.1
2016 48.6 57.5
2015 49.2 55.6
2014 48 54.3
2013 46.9 55.1
2012 48.3 56.3
2011 47.1 56.7
2010 49.3 56.8
2009 52.5 55.1
2008 55.2 55.1
2007 55.3 55.6
2006 54.6 48.7
2005 52.9 48.4
2004 54.4 49.2
2003 54.1 49.5
2002 53.1 50.9
2001 55.1 49.6
2000 59.8 53.1
1999 62.9 55.7
1998 62.8 52.3
1997 61 52.8
1996 60.1 47.4
1995 57.7 47.3

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08).

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

The Economic Freedom Index for Ecuador is 55.6, ranking 127/197, 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

Ecuador Nigeria
Services, % of GDP
57%
2025
58.2%
2025
Industry, % of GDP
25.7%
2025
16.4%
2025
Agriculture, forestry, and fishing, % of GDP
9.7%
2025
23%
2025
GNI, Atlas method
$126B
2025
$324B
2025
GNI per capita, PPP
$16,290
2025
$9,230
2025
Total reserves including gold
$9.8B
2025
$46B
2025
Total reserves ranking
79/177
2025
52/177
2025
Net foreign direct investment
-$1.3B
2025
-$2.82B
2025
Net inflows of foreign direct investment
$446M
2024
$1.61B
2024
Net outflows of foreign direct investment
$0
2024
$408M
2024
Servicing debt to the IMF, % of GNI
7.05%
2024
5.46%
2024
Poverty at national poverty lines
21.4%
2025
56.2%
2023
Gross capital formation, % of GDP
20.9%
2025
n/a

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2025, retrieved 2026-07-08); U.S. Census Bureau (1985–2025, retrieved 2026-07-08).

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

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Data sources:

  1. World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08)
  3. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08)
  4. U.S. Census Bureau (1985–2025, retrieved 2026-07-08)
  5. TradeMap (2022–2025, retrieved 2026-07-08)
  6. International Monetary Fund (IMF) | Public Finances in Modern History (1995–2000, retrieved 2026-07-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-07-08)
  8. LivingCost (2026, retrieved 2026-07-08)

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.