Italy vs Nigeria: Economic Indicators Comparison

Italy with a GDP of $2.1T ranked the 8th largest economy in the world, while Nigeria ranked 32nd with $397.3B. By GDP 5-years average growth and GDP per capita, Italy and Nigeria ranked 154th vs 132nd and 29th vs 149th, respectively.

Gross Domestic Product & Income

StatItalyNigeria
GDP$2.1T$397.3B
GDP growth, 1 year0.9%1.9%
GDP growth, 5-years average0.9%2%
Population60.3M190.9M
GDP per capita$34k$2k
GDP per capita growth0.95%-0.67%
Purchasing Power Parity conversion factor0.7110.03
Price level ratio of PPP conversion factor GDP to market exchange rate0.820.34
GDP per capita, PPP adjusted$40k$6k
GNI, Atlas method$2T$384.8B
GNI per capita$34k$2k
GNI, PPP adjusted$2.6T$1.1T
GNI per capita, PPP adjusted$42k$5.7k

Financial system and Human development

StatItalyNigeria
Income Tax Rate43%24%
Corporate Tax Rate27.5%30%
Inflation, consumer prices1.2%12.1%
Inflation, GDP deflator0.9%10.2%
Unemployment10.2%6%
Economic Freedom Index63.857.2
Personal Freedom Index8.796.01
Human Freedom Index8.016.1
Property Rights Index75.438.1
Judical Effectiveness Index51.332.2
Business Freedom Index70.454.7
Fiscal Health Index71.164.1
Labor Freedom Index50.984
Investment Freedom Index8045
Financial Freedom Index5040
Trade Freedom Index86.462.4
Monetary Freedom Index83.261.7
Government Spending Index28.596.2
Tax Burden Index5685.1
Government Integrity Index62.222.3
Corruption Perceptions Index5227
Life expectancy at birth, years83.254
Suicide mortality rate, per 100,000 people8.29.5
Mortality caused by road traffic injury, per 100,000 people5.621.4
Intentional homicides, per 100,000 people0.79.9
International tourism, number of arrivals61.6M5.3M

Government debt & reserves

StatItalyNigeria
Central government debt, % of GDP132.1%28.4%
External debt stocks, % of GNIN/A12.4%
External debt stocksN/A$47B
Short-term debt, % of total reservesN/A0%
Total debt service, % of exports and primary incomeN/A8.3%
Adjusted net savings including particulate emission damage, % of GNI6%1.4%
Gross savings, % of GDP20.8%19.3%
Gross capital formation, % of GDP18.2%19.8%
Total reserves including gold$152.4B$42.8B
Foreign direct investment net inflows$39.6B$2B

Exports, imports and economic structure

StatItalyNigeria
Exports of goods and services, % of GDP31.5%15.5%
Imports of goods and services, % of GDP29%17.5%
Current account balance (balance of payments)$53.8B$5.3B
Revenue excluding grants, % of GDP37.7%N/A
Grants excluding technical cooperation, BoPN/A$2B
Personal remittances received$9.9B$24.3B
Industry including construction value added, % of GDP21.4%25.7%
Agriculture, forestry and fishing value added, % of GDP1.9%21.2%
Charges for the use of intellectual property, payments BoP$5.1B$252.8M
Charges for the use of intellectual property, receipts BoP$4.9B$7.8M
Expense, % of GDP41.3%N/A
Government Expenditure, % of GDP48.8%11.2%

Compare with countries close by GDP per capita

Italy vs

CountryGDP
per capita
Population
Sweden
$55k
10.3M
Netherlands
$53k
17.3M
Austria
$51k
8.81M
Finland
$50k
5.5M
San Marino
$48k
33.4k
Germany
$48k
83.1M
Belgium
$48k
11.4M
Canada
$46k
37.9M
United Arab Emirates
$43k
9.4M
United Kingdom
$43k
66M
Andorra
$42k
76.2k
New Zealand
$42k
4.94M
Israel
$42k
9.09M
France
$41k
66.6M
Japan
$39k
127M
Kuwait
$34k
4.6M
Bahamas
$32k
395k
Brunei
$32k
429k
South Korea
$31k
51.5M
Spain
$30k
46.7M
Malta
$30k
465k
Cyprus
$28k
1.14M
Slovenia
$26k
2.07M
Taiwan
$25k
23.6M
Bahrain
$24k
1.49M
Portugal
$23k
10.6M
Saudi Arabia
$23k
33M
Estonia
$23k
1.32M
Czech Republic
$23k
10.7M
Vatican City
$21k
1k

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