Skip to content

Economy of Gambia vs Nigeria compared: GDP & Debt

Updated on by Georank

The Gambia has a GDP of $2.59B compared to $291B for Nigeria, ranking 174/197 and 50/197 by economy size, respectively.

The Gambia has $1.92B in government debt (73.9% of GDP), compared to $103B (35.5% of GDP) in Nigeria.

Gambia vs Nigeria GDP by year

Gambia
Nigeria
1x
Year GDP, current $
Gambia Nigeria
2025 $2,593,673,988 $290,794,361,542
2024 $2,404,888,738 $252,261,880,140
2023 $2,382,262,185 $487,387,801,878
2022 $2,204,734,528 $646,950,257,575
2021 $2,014,158,842 $609,147,716,965
2020 $1,812,170,891 $598,586,817,817
2019 $1,813,609,692 $668,219,992,687
2018 $1,670,671,328 $421,739,251,509
2017 $1,504,909,463 $375,745,731,053
2016 $1,484,578,886 $404,649,125,252
2015 $1,378,176,609 $493,026,682,801
2014 $1,229,461,721 $574,183,763,412
2013 $1,375,609,453 $520,117,180,314
2012 $1,415,004,738 $463,971,018,239
2011 $1,409,693,597 $414,466,676,831
2010 $1,543,294,927 $366,990,417,129
2009 $1,450,142,509 $295,008,835,381
2008 $1,561,766,956 $339,476,276,258
2007 $1,279,703,047 $278,260,846,800
2006 $1,054,112,488 $238,454,997,161
2005 $1,027,701,068 $175,670,569,969
2004 $961,900,651 $135,764,731,646
2003 $487,038,685 $104,738,954,264
2002 $578,235,309 $95,054,059,303
2001 $687,410,645 $73,557,840,064
2000 $782,913,872 $69,171,451,627
1999 $814,724,032 $59,145,077,039
1998 $840,285,265 $218,416,200,673
1997 $803,633,342 $200,850,397,618
1996 $848,239,446 $185,730,236,700
1995 $785,999,865 $140,919,776,986
1994 $746,493,952 $80,399,613,064
1993 $755,040,974 $56,721,051,402
1992 $714,254,256 $52,058,181,854
1991 $690,311,081 $59,526,833,412
1990 $317,083,695 $54,035,795,388
1989 $284,120,329 $44,003,061,108
1988 $266,672,212 $49,648,470,440
1987 $220,626,484 $52,676,041,931
1986 $185,646,987 $54,805,852,581
1985 $225,726,359 $73,745,821,158
1984 $177,340,880 $73,484,359,521
1983 $213,448,585 $97,094,911,792
1982 $216,050,552 $142,769,363,314
1981 $218,767,743 $164,475,209,516
1980 $241,083,090 $64,201,788,123
1979 $207,112,628 $47,259,911,894
1978 $171,833,086 $36,527,862,209
1977 $138,093,099 $36,035,407,725
1976 $112,190,829 $36,308,883,249
1975 $115,179,719 $27,778,934,625
1974 $95,796,022 $24,846,641,318
1973 $75,187,749 $15,162,871,287
1972 $59,160,569 $12,274,416,018
1971 $55,728,663 $9,181,769,912
1970 $52,296,084 $12,546,094,982
1969 $45,168,072 $6,634,317,346
1968 $41,160,066 $5,200,997,920
1967 $46,695,007 $5,203,237,919
1966 $44,212,081 $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 (1960–2025, retrieved 2026-07-08).

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

GDP per capita in Gambia vs Nigeria by year

Gambia
GDP per capita

GDP per capita, PPP
Nigeria
GDP per capita

GDP per capita, PPP
1x
Year Current $
Gambia Nigeria
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $919 - $1,224 -
2024 $871 $3,476 $1,084 $9,087
2023 $883 $3,289 $2,139 $8,705
2022 $836 $3,067 $2,899 $8,305
2021 $782 $2,778 $2,787 $7,588
2020 $720 $2,531 $2,797 $7,415
2019 $738 $2,422 $3,190 $7,551
2018 $696 $2,277 $2,058 $7,158
2017 $643 $2,039 $1,876 $7,037
2016 $650 $2,013 $2,070 $7,072
2015 $620 $1,990 $2,586 $7,308
2014 $568 $1,934 $3,089 $7,396
2013 $654 $2,007 $2,873 $7,004
2012 $693 $2,065 $2,633 $6,671
2011 $711 $2,064 $2,418 $6,585
2010 $801 $2,267 $2,202 $6,301
2009 $775 $2,177 $1,820 $5,927
2008 $859 $2,088 $2,154 $5,607
2007 $725 $1,985 $1,816 $5,298
2006 $615 $1,931 $1,600 $4,975
2005 $616 $1,938 $1,211 $4,678
2004 $593 $1,979 $962 $4,381
2003 $309 $1,850 $763 $4,015
2002 $377 $1,744 $712 $3,770
2001 $460 $1,823 $566 $3,309
2000 $538 $1,731 $547 $3,139
1999 $575 $1,649 $481 $3,002
1998 $610 $1,572 $1,822 $3,022
1997 $600 $1,544 $1,720 $2,990
1996 $652 $1,489 $1,633 $2,931
1995 $622 $1,472 $1,272 $2,835
1994 $608 $1,473 $745 $2,853
1993 $635 $1,487 $540 $2,921
1992 $623 $1,462 $509 $2,991
1991 $628 $1,440 $597 $2,870
1990 $301 $1,409 $556 $2,840
1989 $280.9 - $465 -
1988 $274.9 - $540 -
1987 $237 - $588 -
1986 $207.7 - $628 -
1985 $262.8 - $869 -
1984 $214.8 - $890 -
1983 $268.6 - $1,207 -
1982 $282.1 - $1,822 -
1981 $296 - $2,162 -
1980 $338 - $870 -
1979 $300 - $661 -
1978 $257.6 - $527 -
1977 $213.8 - $536 -
1976 $179.3 - $556 -
1975 $189.8 - $438 -
1974 $162.6 - $403 -
1973 $131.4 - $252.4 -
1972 $106.5 - $209.5 -
1971 $103.3 - $160.5 -
1970 $99.8 - $224.5 -
1969 $88.7 - $121.4 -
1968 $83.1 - $97.3 -
1967 $97 - $99.5 -
1966 $94.4 - $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 (1960–2025, retrieved 2026-07-08).

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

The Gambia's GDP per capita is $919, ranking 183/197, compared to $1,224 in Nigeria, ranking 172/197. Adjusted for purchasing power (GDP per capita PPP), the Gambia ranks 172nd at $3,476, while Nigeria ranks 136th at $9,087.

Economic indicators

Gambia Nigeria
Gross domestic product
$2.59B
2025
$291B
2025
GDP rank
174/197
2025
50/197
2025
GDP growth
5.89%
2024-2025
4.01%
2024-2025
GDP per capita
$919
2025
$1,224
2025
GDP per capita rank
183/197
2025
172/197
2025
GDP per capita, PPP
$3,476
2024
$9,087
2024
GDP per capita PPP rank
172/197
2024
136/197
2024
Government debt
$1.92B
2025
$103B
2025
Debt-to-GDP ratio
73.9%
2025
35.5%
2025
Government debt per person
$679
2025
$434
2025
Government debt per person rank
156/185
2025
170/185
2025
Average annual personal income after taxes
$710
2026
$768
2026
Market capitalization of domestic companies n/a
$86.9B
2025
Number of billionaires n/a
4
2026
Income share by richest 10%
30.5%
2020
26.3%
2022
Income share by poorest 10%
2.6%
2020
3%
2022
Government expenditure, % of GDP
27.1%
2025
11.7%
2025
Consumer prices inflation
11.6%
2023-2024
23%
2024-2025
Central bank interest rate
14%
2026
26.5%
2026
Unemployment rate
7.05%
2025
3.45%
2024
Population
2916990
245016045

Spending and national debt comparison by year

Gambia
Spending

Debt
Nigeria
Spending

Debt
1x
Year % of GDP
Gambia Nigeria
Government spending Government debt Government spending Government debt
2025 27.1% 73.9% 11.7% 35.5%
2024 25.3% 78.5% 12% 39.3%
2023 23.9% 77.4% 10.4% 36.3%
2022 24.6% 83.9% 10.6% 29.8%
2021 21.5% 83.1% 9.09% 26.6%
2020 25.3% 85.9% 8.73% 25.7%
2019 23.9% 83% 8.87% 21.4%
2018 19% 83.6% 9.1% 20.4%
2017 23.6% 87% 8.51% 18%
2016 19.4% 79.5% 6.93% 17.4%
2015 19.6% 69.4% 7.85% 14.9%
2014 19% 71.1% 9.49% 15.8%
2013 17.2% 58.2% 10% 13%
2012 19.1% 49.5% 10.5% 12.5%
2011 16.5% 49.2% 12.3% 12.4%
2010 14.6% 42.9% 11.8% 6.67%
2009 14.4% 38.9% 11% 6.12%
2008 11.6% 39.5% 10.2% 5.17%
2007 11.2% 38% 12.9% 5.76%
2006 14% 87.3% 8.75% 6.68%
2005 12.9% 82.6% 12.6% 13.4%
2004 12.4% 81.3% 13% 25.2%
2003 9.3% 91.7% 16.5% 29.9%
2002 8.59% 93.9% 13.8% 30.7%
2001 9.68% 75.2% 21.9% 37.7%
2000 9.54% 73.3% 17.6% 40.9%
1999 - - 14.9% 46.1%
1998 - - 11.2% 15.8%
1997 - - 9.68% 17.1%
1996 - - 7.87% 17.9%
1995 - - 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).

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

In 2025, the Gambia's government spending was $704M, accounting for 27.1% of its GDP, while Nigeria spent $34.1B, or 11.7% of GDP.

Debt-to-GDP ratio is 73.9% in the Gambia and 35.5% in Nigeria, ranking 51/185 and 143/185, respectively.

Government deficit by year

Deficit/surplus
Gambia

Nigeria
1x
Year Deficit/surplus, % of GDP
Gambia Nigeria
2025 -2.95% -1.76%
2024 -4% -1.27%
2023 -3.56% -3.12%
2022 -5.72% -4%
2021 -4.77% -3.97%
2020 -2.37% -4.03%
2019 -2.75% -3.31%
2018 -3.92% -3.06%
2017 -4.35% -3.85%
2016 -6.22% -3.3%
2015 -5.38% -2.7%
2014 -3.94% -1.72%
2013 -5.11% -1.89%
2012 -2.85% -0.09%
2011 -3.03% 0.31%
2010 -2.93% -2.96%
2009 -1.65% -3.78%
2008 -0.45% 4.05%
2007 0.27% -0.79%
2006 -3.19% 6.22%
2005 -3.33% 3.49%
2004 -1.77% 3.9%
2003 -1.73% -1.56%
2002 0.06% 0.95%
2001 -2.52% -2.29%
2000 -0.09% 2.89%
1999 - -1.39%
1998 - -3.47%
1997 - 1.14%
1996 - 3.37%
1995 - 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/gambia/nigeria | CC BY

In 2025, the Gambia's government deficit, the difference between spending and revenue, was $76.5M, equivalent to 2.95% of GDP. This compares to Nigeria's deficit of $5.12B, or 1.76% of GDP.

Over the past 26 years, the Gambia recorded a fiscal deficit in 24 of those years, while Nigeria ran a deficit in 19 years. On average, the Gambia posted an annual deficit equal to 3.01% of GDP, compared to deficit of 1.06% of GDP for Nigeria.

Inflation comparison by year

Inflation
Gambia

Nigeria
1x
Year Consumer prices inflation
Gambia Nigeria
2025 - 23%
2024 11.6% 33.2%
2023 17% 24.7%
2022 11.5% 18.8%
2021 7.37% 17%
2020 5.93% 13.2%
2019 7.12% 11.4%
2018 6.52% 12.1%
2017 8.03% 16.5%
2016 7.23% 15.7%
2015 6.81% 9.01%
2014 5.95% 8.05%
2013 5.7% 8.5%
2012 4.25% 12.2%
2011 4.8% 10.8%
2010 5.05% 13.7%
2009 4.56% 12.5%
2008 4.44% 11.6%
2007 5.37% 5.39%
2006 2.06% 8.23%
2005 4.84% 17.9%
2004 14.2% 15%
2003 17% 14%
2002 8.61% 12.9%
2001 4.49% 18.9%
2000 0.84% 6.93%
1999 3.81% 6.62%
1998 1.11% 10%
1997 2.78% 8.53%

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

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

Over the past 28 years, the Gambia has recorded an average annual inflation rate of 6.75%, compared with 13.3% in Nigeria. In 2024, inflation was 11.6% in the Gambia and 23% in Nigeria.

Top exports between countries

Gambia
Export category Export value
Processed food, beverages & tobacco $11K
Textiles & consumer goods $10K
Machinery & equipment $3K
Nigeria
Export category Export value
Processed food, beverages & tobacco $2.69M
Chemicals & pharma $72K
Wood & paper products $53K
Miscellaneous $40K
Raw materials & minerals $17K
Metals $15K
Raw agricultural goods $7K
Textiles & consumer goods $7K

Balance of trade

Gambia Nigeria
Current account balance
-$99.8M
2024
$14B
2025
Current account balance ranking
81/190
2024
21/190
2025
Current account balance, % of GDP
-4.15%
2024
+4.83%
2025
Goods imports
$1.39B
2024
$43B
2025
Goods exports
$363M
2024
$57.5B
2025
Service imports
$161M
2024
$19.6B
2025
Service exports
$485M
2024
$5.06B
2025
Imports of goods and services, % of GDP
49.4%
2025
16.9%
1960
Exports of goods and services, % of GDP
12.7%
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.

Gambia Nigeria
Economic freedom 56.3 54.8
Economic freedom ranking 123/197 132/197
Property rights 55.4 29.7
Government integrity 40.5 23.5
Judicial effectiveness 45.8 34.4
Tax burden 79.2 84.6
Government spending 81.1 96.3
Fiscal health 54.8 83.5
Business freedom 50.1 50.3
Labor freedom 46.4 75.4
Monetary freedom 57.3 56.1
Trade freedom 64.8 64.4
Investment freedom 50 30
Financial freedom 50 30

Economic freedom comparison by year

Gambia
Nigeria
1x
Year Economic freedom index
Gambia Nigeria
2026 56.3 54.8
2025 56.8 53.4
2024 58.2 53.1
2023 57.9 53.9
2022 58 54.4
2021 58.8 58.7
2020 56.3 57.2
2019 52.4 57.3
2018 52.3 58.5
2017 53.4 57.1
2016 57.1 57.5
2015 57.5 55.6
2014 59.5 54.3
2013 58.8 55.1
2012 58.8 56.3
2011 57.4 56.7
2010 55.1 56.8
2009 55.8 55.1
2008 56.9 55.1
2007 57.7 55.6
2006 57.3 48.7
2005 56.5 48.4
2004 55.3 49.2
2003 56.3 49.5
2002 57.7 50.9
2001 56.6 49.6
2000 52.7 53.1
1999 52.1 55.7
1998 53.4 52.3
1997 52.9 52.8
1996 - 47.4
1995 - 47.3

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

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

The Economic Freedom Index for the Gambia is 56.3, ranking 123/197, 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

Gambia Nigeria
Services, % of GDP
53.1%
2025
58.2%
2025
Industry, % of GDP
15.8%
2025
16.4%
2025
Agriculture, forestry, and fishing, % of GDP
23.8%
2025
23%
2025
GNI, Atlas method
$2.62B
2025
$324B
2025
GNI per capita, PPP
$3,660
2025
$9,230
2025
Total reserves including gold
$629M
2024
$46B
2025
Total reserves ranking
151/177
2024
52/177
2025
Net foreign direct investment
-$232M
2024
-$2.82B
2025
Net inflows of foreign direct investment
$232M
2024
$1.61B
2024
Net outflows of foreign direct investment
-$665K
2024
$408M
2024
Servicing debt to the IMF, % of GNI
3.25%
2024
5.46%
2024
Poverty at national poverty lines
53.4%
2020
56.2%
2023
Gross capital formation, % of GDP
40.4%
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/gambia/nigeria | CC BY

Compare countries by 7 more topics

Help us show the world through your eyes

Share a photo of your city and help others discover what it looks like to live there. Your contribution makes our data come alive.

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 (2021–2024, retrieved 2026-07-08)
  6. United Nations | World Population Prospects (2026, retrieved 2026-07-08)
  7. 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.