Montenegro vs Nigeria: Economic Indicators Comparison
Nigeria with a GDP of $397.3B ranked the 32nd largest economy in the world, while Montenegro ranked 153rd with $5.5B. By GDP 5-years average growth and GDP per capita, Nigeria and Montenegro ranked 132nd vs 67th and 149th vs 81st, respectively.
Gross Domestic Product & Income
| Stat |  Montenegro |  Nigeria |
|---|---|---|
| GDP | $5.5B | $397.3B |
| GDP growth, 1 year | 4.5% | 1.9% |
| GDP growth, 5-years average | 3.5% | 2% |
| Population | 622k | 190.9M |
| GDP per capita | $8.8k | $2k |
| GDP per capita growth | 5.08% | -0.67% |
| Purchasing Power Parity conversion factor | 0.36 | 110.03 |
| Price level ratio of PPP conversion factor GDP to market exchange rate | 0.43 | 0.34 |
| GDP per capita, PPP adjusted | $19k | $6k |
| GNI, Atlas method | $5.2B | $384.8B |
| GNI per capita | $8.4k | $2k |
| GNI, PPP adjusted | $13B | $1.1T |
| GNI per capita, PPP adjusted | $21k | $5.7k |
Financial system and Human development
| Stat | Montenegro | Nigeria |
|---|---|---|
| Income Tax Rate | 9% | 24% |
| Corporate Tax Rate | 9% | 30% |
| Inflation, consumer prices | 2.6% | 12.1% |
| Inflation, GDP deflator | 3.2% | 10.2% |
| Unemployment | 15.5% | 6% |
| Economic Freedom Index | 61.5 | 57.2 |
| Personal Freedom Index | 8.12 | 6.01 |
| Human Freedom Index | 7.67 | 6.1 |
| Property Rights Index | 59.1 | 38.1 |
| Judical Effectiveness Index | 55.3 | 32.2 |
| Business Freedom Index | 70.8 | 54.7 |
| Fiscal Health Index | 23.4 | 64.1 |
| Labor Freedom Index | 74.8 | 84 |
| Investment Freedom Index | 75 | 45 |
| Financial Freedom Index | 50 | 40 |
| Trade Freedom Index | 83.8 | 62.4 |
| Monetary Freedom Index | 80.3 | 61.7 |
| Government Spending Index | 32.1 | 96.2 |
| Tax Burden Index | 85.4 | 85.1 |
| Government Integrity Index | 47.5 | 22.3 |
| Corruption Perceptions Index | 45 | 27 |
| Life expectancy at birth, years | 76.7 | 54 |
| Suicide mortality rate, per 100,000 people | 10.3 | 9.5 |
| Mortality caused by road traffic injury, per 100,000 people | 10.7 | 21.4 |
| Intentional homicides, per 100,000 people | 2.4 | 9.9 |
| International tourism, number of arrivals | 2.1M | 5.3M |
Government debt & reserves
| Stat | Montenegro | Nigeria |
|---|---|---|
| Central government debt, % of GDP | 72.1% | 28.4% |
| External debt stocks, % of GNI | 144.1% | 12.4% |
| External debt stocks | $8B | $47B |
| Short-term debt, % of total reserves | 17.2% | 0% |
| Total debt service, % of exports and primary income | 63.7% | 8.3% |
| Adjusted net savings including particulate emission damage, % of GNI | N/A | 1.4% |
| Gross savings, % of GDP | 14.9% | 19.3% |
| Gross capital formation, % of GDP | 31.9% | 19.8% |
| Total reserves including gold | $1.2B | $42.8B |
| Foreign direct investment net inflows | $485.7M | $2B |
Exports, imports and economic structure
| Stat | Montenegro | Nigeria |
|---|---|---|
| Exports of goods and services, % of GDP | 42.9% | 15.5% |
| Imports of goods and services, % of GDP | 66.7% | 17.5% |
| Current account balance (balance of payments) | -$943M | $5.3B |
| Revenue excluding grants, % of GDP | N/A | N/A |
| Grants excluding technical cooperation, BoP | $57.7M | $2B |
| Personal remittances received | $588.9M | $24.3B |
| Industry including construction value added, % of GDP | 15.9% | 25.7% |
| Agriculture, forestry and fishing value added, % of GDP | 6.7% | 21.2% |
| Charges for the use of intellectual property, payments BoP | $6M | $252.8M |
| Charges for the use of intellectual property, receipts BoP | $432k | $7.8M |
| Expense, % of GDP | N/A | N/A |
| Government Expenditure, % of GDP | 47.6% | 11.2% |
