Libya vs Nigeria: Economic Indicators Comparison
Gross Domestic Product & Income
| Stat |  Libya |  Nigeria |
|---|---|---|
| GDP | $48.4B | $397.3B |
| GDP growth, 1 year | 17.9% | 1.9% |
| GDP growth, 5-years average | 1.7% | 2% |
| Population | 6.7M | 190.9M |
| GDP per capita | $7.2k | $2k |
| GDP per capita growth | 6.37% | -0.67% |
| Purchasing Power Parity conversion factor | 0.48 | 110.03 |
| Price level ratio of PPP conversion factor GDP to market exchange rate | 0.35 | 0.34 |
| GDP per capita, PPP adjusted | $11k | $6k |
| GNI, Atlas method | $42.8B | $384.8B |
| GNI per capita | $6.4k | $2k |
| GNI, PPP adjusted | $142.5B | $1.1T |
| GNI per capita, PPP adjusted | $21k | $5.7k |
Financial system and Human development
| Stat | Libya | Nigeria |
|---|---|---|
| Income Tax Rate | 10% | 24% |
| Corporate Tax Rate | N/A | 30% |
| Inflation, consumer prices | 23.1% | 12.1% |
| Inflation, GDP deflator | 15.8% | 10.2% |
| Unemployment | 17.3% | 6% |
| Economic Freedom Index | 47 | 57.2 |
| Personal Freedom Index | 5.17 | 6.01 |
| Human Freedom Index | 4.98 | 6.1 |
| Property Rights Index | 30.1 | 38.1 |
| Judical Effectiveness Index | 20.8 | 32.2 |
| Business Freedom Index | 40.7 | 54.7 |
| Fiscal Health Index | N/A | 64.1 |
| Labor Freedom Index | 53.9 | 84 |
| Investment Freedom Index | 5 | 45 |
| Financial Freedom Index | N/A | 40 |
| Trade Freedom Index | N/A | 62.4 |
| Monetary Freedom Index | 53.6 | 61.7 |
| Government Spending Index | 0 | 96.2 |
| Tax Burden Index | N/A | 85.1 |
| Government Integrity Index | 18.9 | 22.3 |
| Corruption Perceptions Index | 17 | 27 |
| Life expectancy at birth, years | 72.5 | 54 |
| Suicide mortality rate, per 100,000 people | 5.2 | 9.5 |
| Mortality caused by road traffic injury, per 100,000 people | 26.1 | 21.4 |
| Intentional homicides, per 100,000 people | 2.5 | 9.9 |
| International tourism, number of arrivals | 142k | 5.3M |
Government debt & reserves
| Stat | Libya | Nigeria |
|---|---|---|
| Central government debt, % of GDP | 4.9% | 28.4% |
| External debt stocks, % of GNI | N/A | 12.4% |
| External debt stocks | N/A | $47B |
| Short-term debt, % of total reserves | N/A | 0% |
| Total debt service, % of exports and primary income | N/A | 8.3% |
| Adjusted net savings including particulate emission damage, % of GNI | 35% | 1.4% |
| Gross savings, % of GDP | 67.3% | 19.3% |
| Gross capital formation, % of GDP | 29.8% | 19.8% |
| Total reserves including gold | $85.3B | $42.8B |
| Foreign direct investment net inflows | $0 | $2B |
Exports, imports and economic structure
| Stat | Libya | Nigeria |
|---|---|---|
| Exports of goods and services, % of GDP | 62.2% | 15.5% |
| Imports of goods and services, % of GDP | 40.1% | 17.5% |
| Current account balance (balance of payments) | -$4.7B | $5.3B |
| Revenue excluding grants, % of GDP | N/A | N/A |
| Grants excluding technical cooperation, BoP | $268.9M | $2B |
| Personal remittances received | $16M | $24.3B |
| Industry including construction value added, % of GDP | 77.5% | 25.7% |
| Agriculture, forestry and fishing value added, % of GDP | 1.8% | 21.2% |
| Charges for the use of intellectual property, payments BoP | N/A | $252.8M |
| Charges for the use of intellectual property, receipts BoP | $10M | $7.8M |
| Expense, % of GDP | N/A | N/A |
| Government Expenditure, % of GDP | 105.8% | 11.2% |
