Kuwait vs Nigeria: Economic Indicators Comparison

Nigeria with a GDP of $397.3B ranked the 32nd largest economy in the world, while Kuwait ranked 58th with $140.6B. By GDP 5-years average growth and GDP per capita, Nigeria and Kuwait ranked 132nd vs 163rd and 149th vs 30th, respectively.

Gross Domestic Product & Income

StatKuwaitNigeria
GDP$140.6B$397.3B
GDP growth, 1 year1.7%1.9%
GDP growth, 5-years average0.5%2%
Population4.6M190.9M
GDP per capita$34k$2k
GDP per capita growth-0.74%-0.67%
Purchasing Power Parity conversion factor0.14110.03
Price level ratio of PPP conversion factor GDP to market exchange rate0.470.34
GDP per capita, PPP adjusted$67k$6k
GNI, Atlas method$141.9B$384.8B
GNI per capita$34k$2k
GNI, PPP adjusted$348.6B$1.1T
GNI per capita, PPP adjusted$84k$5.7k

Financial system and Human development

StatKuwaitNigeria
Income Tax Rate0%24%
Corporate Tax Rate15%30%
Inflation, consumer prices0.7%12.1%
Inflation, GDP deflator14.6%10.2%
Unemployment2.1%6%
Economic Freedom Index63.257.2
Personal Freedom Index6.246.01
Human Freedom Index6.66.1
Property Rights Index57.138.1
Judical Effectiveness Index4732.2
Business Freedom Index61.354.7
Fiscal Health Index99.664.1
Labor Freedom Index62.284
Investment Freedom Index5545
Financial Freedom Index6040
Trade Freedom Index76.462.4
Monetary Freedom Index73.261.7
Government Spending Index22.496.2
Tax Burden Index97.785.1
Government Integrity Index4622.3
Corruption Perceptions Index4127
Life expectancy at birth, years75.354
Suicide mortality rate, per 100,000 people2.39.5
Mortality caused by road traffic injury, per 100,000 people17.621.4
Intentional homicides, per 100,000 people1.89.9
International tourism, number of arrivals8.5M5.3M

Government debt & reserves

StatKuwaitNigeria
Central government debt, % of GDP14.8%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 GNI14.6%1.4%
Gross savings, % of GDP43.2%19.3%
Gross capital formation, % of GDP25.2%19.8%
Total reserves including gold$40.3B$42.8B
Foreign direct investment net inflows-$21.4M$2B

Exports, imports and economic structure

StatKuwaitNigeria
Exports of goods and services, % of GDP56.7%15.5%
Imports of goods and services, % of GDP43.8%17.5%
Current account balance (balance of payments)$24B$5.3B
Revenue excluding grants, % of GDP38.6%N/A
Grants excluding technical cooperation, BoP$1.6M$2B
Personal remittances received$27.7M$24.3B
Industry including construction value added, % of GDP59.6%25.7%
Agriculture, forestry and fishing value added, % of GDP0.4%21.2%
Charges for the use of intellectual property, payments BoPN/A$252.8M
Charges for the use of intellectual property, receipts BoPN/A$7.8M
Expense, % of GDP52%N/A
Government Expenditure, % of GDP50.9%11.2%

Compare with countries close by GDP per capita

Kuwait vs

CountryGDP
per capita
Population
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
Italy
$34k
60.3M
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
Greece
$20k
10.8M

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