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Economy of Luxembourg vs Nigeria compared: GDP & Debt

Updated on by Georank

Luxembourg has a GDP of $101B compared to $291B for Nigeria, ranking 75/197 and 50/197 by economy size, respectively.

Luxembourg has $27.3B in government debt (27% of GDP), compared to $103B (35.5% of GDP) in Nigeria.

Luxembourg vs Nigeria GDP by year

Luxembourg
Nigeria
1x
Year GDP, current $
Luxembourg Nigeria
2025 $101,157,829,491 $290,794,361,542
2024 $93,279,851,863 $252,261,880,140
2023 $88,788,881,539 $487,387,801,878
2022 $80,801,680,397 $646,950,257,575
2021 $86,386,759,695 $609,147,716,965
2020 $73,670,782,100 $598,586,817,817
2019 $69,872,035,114 $668,219,992,687
2018 $71,085,623,495 $421,739,251,509
2017 $65,712,180,343 $375,745,731,053
2016 $62,216,885,436 $404,649,125,252
2015 $60,071,584,216 $493,026,682,801
2014 $68,804,814,555 $574,183,763,412
2013 $65,203,276,467 $520,117,180,314
2012 $59,776,383,527 $463,971,018,239
2011 $61,696,281,326 $414,466,676,831
2010 $56,213,985,987 $366,990,417,129
2009 $54,467,289,898 $295,008,835,381
2008 $58,844,277,702 $339,476,276,258
2007 $51,587,401,416 $278,260,846,800
2006 $42,910,153,830 $238,454,997,161
2005 $37,672,311,223 $175,670,569,969
2004 $35,064,843,793 $135,764,731,646
2003 $29,667,268,248 $104,738,954,264
2002 $23,649,832,387 $95,054,059,303
2001 $21,387,550,720 $73,557,840,064
2000 $21,230,200,538 $69,171,451,627
1999 $21,899,317,599 $59,145,077,039
1998 $20,150,055,568 $218,416,200,673
1997 $19,563,836,265 $200,850,397,618
1996 $20,895,314,658 $185,730,236,700
1995 $20,853,093,870 $140,919,776,986
1994 $17,701,798,891 $80,399,613,064
1993 $15,925,521,222 $56,721,051,402
1992 $15,518,702,635 $52,058,181,854
1991 $13,834,219,728 $59,526,833,412
1990 $12,778,792,854 $54,035,795,388
1989 $10,037,674,038 $44,003,061,108
1988 $9,418,167,855 $49,648,470,440
1987 $8,320,902,215 $52,676,041,931
1986 $6,685,595,088 $54,805,852,581
1985 $4,577,211,767 $73,745,821,158
1984 $4,438,435,493 $73,484,359,521
1983 $4,524,217,751 $97,094,911,792
1982 $4,602,316,793 $142,769,363,314
1981 $5,053,665,797 $164,475,209,516
1980 $6,019,805,490 $64,201,788,123
1979 $5,516,982,664 $47,259,911,894
1978 $4,718,539,772 $36,527,862,209
1977 $3,789,321,328 $36,035,407,725
1976 $3,423,586,207 $36,308,883,249
1975 $3,123,333,333 $27,778,934,625
1974 $3,183,637,117 $24,846,641,318
1973 $2,609,875,802 $15,162,871,287
1972 $1,901,697,370 $12,274,416,018
1971 $1,518,773,421 $9,181,769,912
1970 $1,457,768,455 $12,546,094,982
1969 $1,245,432,991 $6,634,317,346
1968 $1,075,561,623 $5,200,997,920
1967 $983,052,315 $5,203,237,919
1966 $976,717,015 $6,366,917,453
1965 $929,477,285 $5,874,537,650
1964 $910,877,686 $5,552,931,319
1963 $797,902,154 $5,165,590,254
1962 $747,846,862 $4,909,399,176
1961 $710,163,719 $4,467,287,893
1960 $709,941,874 $4,196,174,502

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

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

GDP per capita in Luxembourg vs Nigeria by year

Luxembourg
GDP per capita

GDP per capita, PPP
Nigeria
GDP per capita

GDP per capita, PPP
1x
Year Current $
Luxembourg Nigeria
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $147,252 - $1,224 -
2024 $137,782 $155,941 $1,084 $9,087
2023 $133,231 $150,508 $2,139 $8,705
2022 $123,720 $146,919 $2,899 $8,305
2021 $134,966 $136,772 $2,787 $7,588
2020 $116,860 $122,067 $2,797 $7,415
2019 $112,697 $121,372 $3,190 $7,551
2018 $116,927 $116,638 $2,058 $7,158
2017 $110,193 $114,986 $1,876 $7,037
2016 $106,899 $113,365 $2,070 $7,072
2015 $105,462 $107,860 $2,586 $7,308
2014 $123,679 $105,296 $3,089 $7,396
2013 $120,000 $100,925 $2,873 $7,004
2012 $112,585 $96,636 $2,633 $6,671
2011 $119,025 $94,475 $2,418 $6,585
2010 $110,886 $90,336 $2,202 $6,301
2009 $109,420 $86,919 $1,820 $5,927
2008 $120,422 $90,971 $2,154 $5,607
2007 $107,475 $85,126 $1,816 $5,298
2006 $90,789 $78,861 $1,600 $4,975
2005 $80,988 $68,788 $1,211 $4,678
2004 $76,545 $64,686 $962 $4,381
2003 $65,689 $60,192 $763 $4,015
2002 $53,006 $58,576 $712 $3,770
2001 $48,440 $56,136 $566 $3,309
2000 $48,660 $55,136 $547 $3,139
1999 $50,872 $49,845 $481 $3,002
1998 $47,445 $44,270 $1,822 $3,022
1997 $46,642 $42,488 $1,720 $2,990
1996 $50,444 $39,722 $1,633 $2,931
1995 $51,032 $38,345 $1,272 $2,835
1994 $43,933 $37,551 $745 $2,853
1993 $40,067 $35,899 $540 $2,921
1992 $39,571 $34,108 $509 $2,991
1991 $35,747 $33,191 $597 $2,870
1990 $33,465 $29,949 $556 $2,840
1989 $26,618 - $465 -
1988 $25,219 - $540 -
1987 $22,443 - $588 -
1986 $18,150 - $628 -
1985 $12,482 - $869 -
1984 $12,127 - $890 -
1983 $12,374 - $1,207 -
1982 $12,591 - $1,822 -
1981 $13,837 - $2,162 -
1980 $16,531 - $870 -
1979 $15,204 - $661 -
1978 $13,034 - $527 -
1977 $10,486 - $536 -
1976 $9,491 - $556 -
1975 $8,701 - $438 -
1974 $8,967 - $403 -
1973 $7,447 - $252.4 -
1972 $5,487 - $209.5 -
1971 $4,435 - $160.5 -
1970 $4,298 - $224.5 -
1969 $3,690 - $121.4 -
1968 $3,203 - $97.3 -
1967 $2,935 - $99.5 -
1966 $2,925 - $124.4 -
1965 $2,804 - $117.3 -
1964 $2,779 - $113.3 -
1963 $2,462 - $107.7 -
1962 $2,332 - $104.5 -
1961 $2,241 - $97.1 -
1960 $2,261 - $93.1 -

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

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

Luxembourg's GDP per capita is $147,252, ranking 3/197, compared to $1,224 in Nigeria, ranking 172/197. Adjusted for purchasing power (GDP per capita PPP), Luxembourg ranks 1st at $155,941, while Nigeria ranks 136th at $9,087.

Economic indicators

Luxembourg Nigeria
Gross domestic product
$101B
2025
$291B
2025
GDP rank
75/197
2025
50/197
2025
GDP growth
0.64%
2024-2025
4.01%
2024-2025
GDP per capita
$147,252
2025
$1,224
2025
GDP per capita rank
3/197
2025
172/197
2025
GDP per capita, PPP
$155,941
2024
$9,087
2024
GDP per capita PPP rank
1/197
2024
136/197
2024
Government debt
$27.3B
2025
$103B
2025
Debt-to-GDP ratio
27%
2025
35.5%
2025
Government debt per person
$39,717
2025
$434
2025
Government debt per person rank
18/185
2025
170/185
2025
Average annual personal income after taxes
$71,808
2026
$768
2026
Market capitalization of domestic companies
$69.4B
2025
$86.9B
2025
Number of millionaires
85,000
2026
n/a
Number of billionaires
1
2026
4
2026
Income share by richest 10%
25%
2023
26.3%
2022
Income share by poorest 10%
2.8%
2023
3%
2022
Government expenditure, % of GDP
48.3%
2025
11.7%
2025
Consumer prices inflation
2.26%
2024-2025
23%
2024-2025
Central bank interest rate n/a
26.5%
2026
Unemployment rate
6.5%
2025
3.45%
2024
Population
697802
245016045

Spending and national debt comparison by year

Luxembourg
Spending

Debt
Nigeria
Spending

Debt
1x
Year % of GDP
Luxembourg Nigeria
Government spending Government debt Government spending Government debt
2025 48.3% 27% 11.7% 35.5%
2024 46.8% 26.3% 12% 39.3%
2023 46.4% 24.7% 10.4% 36.3%
2022 44.3% 24.9% 10.6% 29.8%
2021 42.4% 24.2% 9.09% 26.6%
2020 47% 24.5% 8.73% 25.7%
2019 43.1% 22.3% 8.87% 21.4%
2018 42.3% 20.9% 9.1% 20.4%
2017 41.3% 21.8% 8.51% 18%
2016 40% 19.6% 6.93% 17.4%
2015 40.4% 21.1% 7.85% 14.9%
2014 40.6% 21.9% 9.49% 15.8%
2013 41.2% 22.4% 10% 13%
2012 41.8% 20.8% 10.5% 12.5%
2011 41.5% 18.5% 12.3% 12.4%
2010 42% 19.1% 11.8% 6.67%
2009 42.7% 15.3% 11% 6.12%
2008 37.9% 14.6% 10.2% 5.17%
2007 37.4% 8.09% 12.9% 5.76%
2006 39.4% 8.21% 8.75% 6.68%
2005 43.4% 7.95% 12.6% 13.4%
2004 43.7% 7.83% 13% 25.2%
2003 43.3% 7.43% 16.5% 29.9%
2002 41.8% 7.45% 13.8% 30.7%
2001 38.1% 7.62% 21.9% 37.7%
2000 38% 7.49% 17.6% 40.9%
1999 41.7% 8.39% 14.9% 46.1%
1998 43.9% 9.51% 11.2% 15.8%
1997 44.2% 10.1% 9.68% 17.1%
1996 42.5% 10.2% 7.87% 17.9%
1995 42% 10.3% 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/luxembourg/nigeria | CC BY

In 2025, Luxembourg's government spending was $48.8B, accounting for 48.3% of its GDP, while Nigeria spent $34.1B, or 11.7% of GDP.

Debt-to-GDP ratio is 27% in Luxembourg and 35.5% in Nigeria, ranking 165/185 and 143/185, respectively.

Government deficit by year

Deficit/surplus
Luxembourg

Nigeria
1x
Year Deficit/surplus, % of GDP
Luxembourg Nigeria
2025 -0.96% -1.76%
2024 0.89% -1.27%
2023 -0.65% -3.12%
2022 0.21% -4%
2021 1.11% -3.97%
2020 -3.09% -4.03%
2019 2.68% -3.31%
2018 3.17% -3.06%
2017 1.37% -3.85%
2016 1.89% -3.3%
2015 1.3% -2.7%
2014 1.33% -1.72%
2013 0.84% -1.89%
2012 0.5% -0.09%
2011 0.65% 0.31%
2010 -0.26% -2.96%
2009 -0.21% -3.78%
2008 3.37% 4.05%
2007 4.35% -0.79%
2006 1.9% 6.22%
2005 -0.21% 3.49%
2004 -1.39% 3.9%
2003 0.28% -1.56%
2002 2.03% 0.95%
2001 5.62% -2.29%
2000 5.55% 2.89%
1999 3.24% -1.39%
1998 2.98% -3.47%
1997 2.65% 1.14%
1996 2.37% 3.37%
1995 2.71% 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/luxembourg/nigeria | CC BY

In 2025, Luxembourg's government deficit, the difference between spending and revenue, was $976M, equivalent to 0.96% of GDP. This compares to Nigeria's deficit of $5.12B, or 1.76% of GDP.

Over the past 31 years, Luxembourg recorded a fiscal deficit in 7 of those years, while Nigeria ran a deficit in 21 years. On average, Luxembourg posted an annual surplus equal to 1.49% of GDP, compared to deficit of 0.82% of GDP for Nigeria.

Inflation comparison by year

Inflation
Luxembourg

Nigeria
1x
Year Consumer prices inflation
Luxembourg Nigeria
2025 2.26% 23%
2024 2.05% 33.2%
2023 3.74% 24.7%
2022 6.34% 18.8%
2021 2.53% 17%
2020 0.82% 13.2%
2019 1.74% 11.4%
2018 1.53% 12.1%
2017 1.73% 16.5%
2016 0.29% 15.7%
2015 0.47% 9.01%
2014 0.63% 8.05%
2013 1.73% 8.5%
2012 2.66% 12.2%
2011 3.41% 10.8%
2010 2.27% 13.7%
2009 0.37% 12.5%
2008 3.4% 11.6%
2007 2.31% 5.39%
2006 2.67% 8.23%
2005 2.49% 17.9%
2004 2.23% 15%
2003 2.05% 14%
2002 2.07% 12.9%
2001 2.66% 18.9%
2000 3.15% 6.93%
1999 1.03% 6.62%
1998 0.96% 10%
1997 1.37% 8.53%

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

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

Over the past 29 years, Luxembourg has recorded an average annual inflation rate of 2.1%, compared with 13.7% in Nigeria. In 2025, inflation was 2.26% in Luxembourg and 23% in Nigeria.

Top exports between countries

Luxembourg
Export category Export value
Business & finance services $38.2M
Machinery & equipment $16.9M
Transport & tourism services $3.43M
Chemicals & pharma $526K
Metals $423K
Raw materials & minerals $283K
Textiles & consumer goods $242K
Wood & paper products $54K
Processed food, beverages & tobacco $48K
Miscellaneous $42K
Nigeria
Export category Export value

Balance of trade

Luxembourg Nigeria
Current account balance
$5.29B
2025
$14B
2025
Current account balance ranking
31/190
2025
21/190
2025
Current account balance, % of GDP
+5.23%
2025
+4.83%
2025
Goods imports
$30.9B
2025
$43B
2025
Goods exports
$33B
2025
$57.5B
2025
Service imports
$133B
2025
$19.6B
2025
Service exports
$167B
2025
$5.06B
2025
Imports of goods and services, % of GDP
159.4%
2025
16.9%
1960
Exports of goods and services, % of GDP
190.5%
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.

Luxembourg Nigeria
Economic freedom 79.7 54.8
Economic freedom ranking 7/197 132/197
Property rights 96.6 29.7
Government integrity 88.7 23.5
Judicial effectiveness 99.1 34.4
Tax burden 62.3 84.6
Government spending 36.9 96.3
Fiscal health 98.6 83.5
Business freedom 89.5 50.3
Labor freedom 56.7 75.4
Monetary freedom 74.1 56.1
Trade freedom 79.4 64.4
Investment freedom 95 30
Financial freedom 80 30

Economic freedom comparison by year

Luxembourg
Nigeria
1x
Year Economic freedom index
Luxembourg Nigeria
2026 79.7 54.8
2025 79.5 53.4
2024 79.2 53.1
2023 78.4 53.9
2022 80.6 54.4
2021 76 58.7
2020 75.8 57.2
2019 75.9 57.3
2018 76.4 58.5
2017 75.9 57.1
2016 73.9 57.5
2015 73.2 55.6
2014 74.2 54.3
2013 74.2 55.1
2012 74.5 56.3
2011 76.2 56.7
2010 75.4 56.8
2009 75.2 55.1
2008 74.7 55.1
2007 74.6 55.6
2006 75.3 48.7
2005 76.3 48.4
2004 78.9 49.2
2003 79.9 49.5
2002 79.4 50.9
2001 80.1 49.6
2000 76.4 53.1
1999 72.4 55.7
1998 72.7 52.3
1997 72.8 52.8
1996 72.5 47.4
1995 - 47.3

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

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

The Economic Freedom Index for Luxembourg is 79.7, ranking 7/197, 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

Luxembourg Nigeria
Services, % of GDP
81.4%
2025
58.2%
2025
Industry, % of GDP
8.88%
2025
16.4%
2025
Agriculture, forestry, and fishing, % of GDP
0.23%
2025
23%
2025
GNI, Atlas method
$65.8B
2025
$324B
2025
GNI per capita, PPP
$106,640
2025
$9,230
2025
Total reserves including gold
$3.06B
2025
$46B
2025
Total reserves ranking
120/177
2025
52/177
2025
Net foreign direct investment
$196B
2025
-$2.82B
2025
Net inflows of foreign direct investment
$106B
2024
$1.61B
2024
Net outflows of foreign direct investment
$109B
2024
$408M
2024
Servicing debt to the IMF, % of GNI n/a
5.46%
2024
Poverty at national poverty lines
17.3%
2021
56.2%
2023
Gross capital formation, % of GDP
15.5%
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/luxembourg/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 (2020–2025, retrieved 2026-07-08)
  6. United Nations | World Population Prospects (2026, retrieved 2026-07-08)
  7. LivingCost (2026, retrieved 2026-07-08)

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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.