Luxembourg vs Nigeria: Economic Indicators Comparison

Nigeria with a GDP of $397.3B ranked the 32nd largest economy in the world, while Luxembourg ranked 72nd with $70.9B. By GDP 5-years average growth and GDP per capita, Nigeria and Luxembourg ranked 132nd vs 88th and 149th vs 3rd, respectively.

Gross Domestic Product & Income

StatLuxembourgNigeria
GDP$70.9B$397.3B
GDP growth, 1 year3%1.9%
GDP growth, 5-years average3%2%
Population626k190.9M
GDP per capita$117k$2k
GDP per capita growth1.18%-0.67%
Purchasing Power Parity conversion factor0.87110.03
Price level ratio of PPP conversion factor GDP to market exchange rate1.030.34
GDP per capita, PPP adjusted$107k$6k
GNI, Atlas method$43.1B$384.8B
GNI per capita$71k$2k
GNI, PPP adjusted$43.9B$1.1T
GNI per capita, PPP adjusted$72k$5.7k

Financial system and Human development

StatLuxembourgNigeria
Income Tax Rate42%24%
Corporate Tax Rate18%30%
Inflation, consumer prices2%12.1%
Inflation, GDP deflator2.5%10.2%
Unemployment5.5%6%
Economic Freedom Index75.857.2
Personal Freedom Index9.16.01
Human Freedom Index8.466.1
Property Rights Index86.438.1
Judical Effectiveness Index74.432.2
Business Freedom Index66.854.7
Fiscal Health Index9964.1
Labor Freedom Index45.384
Investment Freedom Index9545
Financial Freedom Index8040
Trade Freedom Index86.462.4
Monetary Freedom Index76.461.7
Government Spending Index45.496.2
Tax Burden Index64.185.1
Government Integrity Index90.322.3
Corruption Perceptions Index8127
Life expectancy at birth, years82.754
Suicide mortality rate, per 100,000 people13.59.5
Mortality caused by road traffic injury, per 100,000 people6.321.4
Intentional homicides, per 100,000 people0.39.9
International tourism, number of arrivals1M5.3M

Government debt & reserves

StatLuxembourgNigeria
Central government debt, % of GDP21.8%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 GNI20.9%1.4%
Gross savings, % of GDP17.4%19.3%
Gross capital formation, % of GDP17.6%19.8%
Total reserves including gold$938.9M$42.8B
Foreign direct investment net inflows-$5.6B$2B

Exports, imports and economic structure

StatLuxembourgNigeria
Exports of goods and services, % of GDP211.6%15.5%
Imports of goods and services, % of GDP175.5%17.5%
Current account balance (balance of payments)$3.4B$5.3B
Revenue excluding grants, % of GDP40.9%N/A
Grants excluding technical cooperation, BoPN/A$2B
Personal remittances received$2.1B$24.3B
Industry including construction value added, % of GDP11.8%25.7%
Agriculture, forestry and fishing value added, % of GDP0.2%21.2%
Charges for the use of intellectual property, payments BoP$5B$252.8M
Charges for the use of intellectual property, receipts BoP$2.4B$7.8M
Expense, % of GDP38.7%N/A
Government Expenditure, % of GDP42.7%11.2%

Compare with countries close by GDP per capita

Luxembourg vs

CountryGDP
per capita
Population
Monaco
$186k
38.7k
Liechtenstein
$165k
37.9k
Switzerland
$83k
8.47M
Norway
$82k
5.37M
Cayman Islands
$81k
58.4k
Ireland
$79k
4.76M
Iceland
$73k
357k
Qatar
$69k
2.64M
Singapore
$65k
5.89M
United States
$63k
325M
Denmark
$61k
5.83M
Australia
$57k
24.5M
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
Italy
$34k
60.3M
Kuwait
$34k
4.6M
Bahamas
$32k
395k

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